Have you ever said; We can t afford to put any money away right now.

As soon as we_______, then we will start saving. The problem is that we always seem to have somewhere else to put our money. Plus, we all know we ve plenty of time to start saving. College is 20 years away for our kids and we have 40 years or more before we retire. We ve all heard the excuses - If you re in your 20s, you figure you ve got 40 years to deal with it, so you ll put it off until you are in your 30s... But by then, you re married with a mortgage to pay and kids to feed.

So you can t afford to save right now. So, you ll wait until your 40 s, you ll be making more money and the kids will be grown.... Now you re in your 40 s and you find that your children are entering college. Your oldest daughter is getting married soon. Not a problem, because by the time you hit your 50s, all your major expenses will be behind you... Only to discover that your youngest kids are getting married and they need help buying a house. So planning for your retirement will just have to wait a bit longer...

When you hit 65, you wish you had started 40 years ago. It happens all the time. There Is Never An Ideal Time To Start Saving You can always find a reason to put it off! Procrastination is the primary cause of financial failure and it will do more harm than your receiving the worst investment advice or picking the worst investment vehicle. If you want to be financially independent, you need to start right now to Pay Yourself First.

The Actual Costs Of Procrastination Let us take an example Consider, if at age 20 you decide that you want to have Rs250,000 by age 65, you need only save Rs28.36 per week in the savings bank @ 5%, but at age 50 you would need to save Rs215 per week. Which would be easier? The cost of procrastination is Rs187 less of weekly income to spend at your age 50. (Rs215- Rs28.36) If you are saying to yourself, I can do better by investing in mutual funds. Even with a 10% return, at age 50 you would need to save \Rs144 per week to have Rs250,000 at age 65. How does Rs1,474 = Rs13,609? I think most of you will agree that starting saving when you are young has its advantages.

But, some of you may be thinking I m plenty young, I ll wait until next year. I ll be making more money, and it ll be easier for me to start. After all, what difference can one year make? It makes a big difference. Using the example above, a 20 year old saving Rs28.36 per week (Rs1,476 per year) in the bank will have Rs250,005 at age 65. However, by waiting until age 21 to begin saving, there now will only be Rs236,396 there at age 65. The cost of procrastination for one year is Rs13,609 less in savings at age 65. Time is your greatest asset and procrastination is your greatest enemy. The fact is it s not how much you earn that is important but how much you keep of what you earn.

What s Keeping You From Saving Your Money? Maybe you think you don t make enough money, or you don t know where to start. Perhaps you re waiting for your partner to handle it. Or, maybe you re confused by what you don t understand. Maybe you don t want to be told what to do. No matter what s standing in your way, it s still just an excuse. So, break the habit of waiting to take action until you understand more or there s a better time. You need to save for your future, cut the excuses and JUST DO IT! Don t procrastinate. Start Paying Yourself First right now! Does this sound familiar? Every month we all have to sit down and pay our bills.

We deposit our paychecks into our checking accounts, and then we set about paying the monthly bills. Generally we pay the mortgage first, then car payments and other loans, followed by the phone bill and utilities. We save the credit cards for last, and depending how much we have left in the checking account determines how much we will pay to each credit card company. By the time we are done, our checkbook balance is at or near zero.

We promised ourselves that we d save some money this month, but as usual there is nothing left. In fact, we barely had enough to pay the bills themselves. There is a remedy to this all too common problem, you must Pay Yourself First. Before you pay any other bills, write a check to yourself for Rs50 or Rs100 or more before your checkbook runs out of money. If you re concerned that you will run out of money, consider don t you always run out of money anyway. This way, you ll run out of money after you ve paid Yourself. And, isn t that the point. The best way to Pay Yourself First , is to make it automatic... You may delay, but time will not. Benjamin Franklin