What can we learn from Squirrels?
What do they do with their nuts?
* Think money Wise *
Written by Gary Edwards a.k.a Mr Squirrel, 25th April 2018
In a nation where people can spend all their money and more, how do they get out of this pattern, a pattern which can affect so many families?
Why? Because if squirrels know to prepare for the future, know that winter is coming and that there may be a shortage of food, then as human beings should we learn from this principle and also prepare for the future by keeping some of our money?
Firstly, you do not need to get too caught up on amounts especially if you are loaded with debt and rarely keep any. Step 1 is to start keeping and to start keeping with consistency.
If you are ready for keeping specific amounts we have 2 pinciples for you:
The 3% Principle
This is ideal if you are loaded with debt and or do not keep any money. Start with keeping 3% (3p in every £1, £3 in every £100 and £30 in every £1000 you receive). In a later blog we will break down what you keep the 3% for.
Keep half, Spend half
This is the ideal we want to aim for. For children this is a great principle to learn and apply. They Keep 50p and spend 50p in every £1. Children do not have the financial responsibilities and debts that adults can have. Adults however can apply this principle especially if their outgoings are kept low and decisions are based around the Keep half, Spend half Principle. For those who currently keep nothing start with the 3% Principle. As your outgoings come down increase the amount you keep. In a later blog we will break down what you keep your money for.do i keep