When it comes to accumulating your own wealth, there are numerous methods to achieve this goal. One of the easiest approaches is to save money. This sound like quite easy but not exactly easy to achieve. Thus, it’s really important to have some rules to strictly follow before actually saving money in the long run.

First, you need to have the ability to distinguish your needs into necessary needs or desirable needs. Necessary needs may correspond to the needs that heavily impact or affect your living functions. If these necessary needs can’t be satisfied, then there will be something lost in your daily living, whether it’s a physical loss or a spiritual loss. On the other side, desirable needs are needs that affect or influence your living quality. If these desirable needs can’t be satisfied, then there will be less satisfying living quality but without any functional difference.

You can set up your own goal or ratio about the actual expense on both needs, but the ratio of desirable needs have to be lower than the ratio of necessary needs in order to actually saving money. The less you spent on desirable needs, the more money you can really save.

Second, when you are not using your money, where do you put them? Do you leave them in your bank account and doing nothing? Making this portion of money active but not spending them is another key for saving money. Starting timed deposit may be a good start. It’s zero risks and this portion of money will generate a small portion of income based on the interest rate eventually. There is no bad about it and nearly no efforts spent on it.

There are still many ways to utilize this portion of money, but investment or buying stock shares may be categorized in earning money instead of saving money. Thus, if the above rules can be strictly followed in your own way of planning, saving money is not just a slogan but an actually achievable goal.

If you are unable to save money, you could use a business loans calculator as a way to finance your business.