Some of us finds it very hard to save for a rainy day. Much so for those in dealing in small businesses. Most of the time it is because money earned is rolled back into the business and what is left is used up for daily expenses and household maintenance. So at the end of the day, most won’t see very much cash in their bank accounts. What they see will probably with a shop that is well stocked. Some view this as a good thing, which I don’t fully agree.
Stocks are Fixed Assets
It not to say that having a well stocked store is a bad thing. When they are sold it is equal to cash and when you close your books, stock in hand plays a big part in showing a good set of figures. However, stocks are not ready cash. It is only cash if they are sold. So it is not a very good practise to dump all our profits totally into stocking up our store. We need cash as well.
There are also some whose business is not doing too well and they hardly can make enough to cover expenses, so there is no spare cash to save. However, when there is a will, there is always a way. We can force save.
What is Force Saving
Like the term suggest, force saving is forcing ourselves to save. It is like dropping money into a bottomless pit where it is impossible to reach so you have no chance of digging into it even if you face with an emergency. Of course that is exaggerated, but that is the basis of Forced Saving.
The amount that you forcibly put away don’t have to be very large. Make it easy for yourself so you don’t abandon the effort half way. It can even be the loose change in your pockets when you come home from work every evening. Just drop it in a jar and forget about it.
A more effective way is to get someone whom you trust and is firm with money to save it for you. The best choice of course is your wife or if not, it can be even your best friend. Give him or her 20 bucks everyday and get them to save it up for you. Remind them that they are not to give you back the money even when you ask for it. Of course then you have to be sure your wife or your best friend won’t abscond with your money.
There are other ways so you can use your imagination. Make it as difficult as possible for yourself to lay hands on the money that you have put away. It takes plenty of discipline, but when the day comes to open up that cash hoard, you will be really surprised at how much you have managed to save up and even with that money not utilised all this while, you still managed to survive like usual.