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I know you are probably wondering what exactly is she talking about right? Well good news #FierceTribe we have a Saving formula that is quiet simple to follow. So get your pen and paper ready because you are going to take down some notes.

So technically what we are aiming to do is to save 20% of our Net Income!

Then take 50% of whats left and put it down onto our needs!

After that we would be left with 30% and what you do with that is use it for your wants!

So what are our needs? Why do we have to put in a whole 50% on that?

Traditionally the immediate needs are our basic needs which would include Food ( water) shelter and clothing. But with how we are evolving and modernising as we go on it is more than that, hence why we have to cater a whole 50% to go into it. This would be Food, Water, Clothing, Shelter, Sanitation, Education, Healthcare, Internet and Transportation.

What about our wants? Someone might just point out that these two are basically the same! Unfortunately they are not. As much as wants are unlimited and keep recurring we can also term them as luxuries, things that make our lives easier , maybe better but i'd say not really necessary. Hence why we put 30% under there and sometimes when we asses you would see we could easily reduce the percentage and save more. Things like a Car, Tv Subscription, Eating out, Going out every weekend and anything else you can think of that you can live without.

So really saving 20% of your Net Income ( whether you are employed or an entrepreneur ) isn't very hard of course it needs practice, monitoring and accountability. But if determined you can do it, and you see what i have given you is just a basic method, there is a lot more that entails when it comes to saving, there are a lot of things one can invest in and not only save but get returns. But of course you have to start somewhere, a basic point where it first puts you into practice then one can move forward.

So next time you make that money, get yourself a Note Book and a Pen. write down all your expenses then try to categorize them accordingly you shall see your pattern and once you see it you shall easily pick it up from there.

I hope this helps.


Nadia Naddy!


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