Everyone has their own way of thinking about money, as well as their own way of managing personal finances. Many people choose to prioritize saving first, others choose to invest their money, making money no longer idle but self-proliferation. No matter which way you choose, the ultimate financial destination is for yourself to have a more abundant life in terms of money.
Accumulate money from small things, save and invest together
Ngoc Nguyen (24 years old, Nam Dinh), once received a salary of 5 million VND/month, but can still save 1.5 million after deducting all expenses: “Everybody wants a high income to live life. But at the time when I didn’t have any experience and didn’t have any good job opportunities, I had to accept a salary of 5 million in order to get a job and study. still persist in saving every penny.
After 2 years of training, I was promoted to possess a higher salary. But saving is still the same, at least 40% of income. I’m always afraid of illness, accident or unemployment,… Things come suddenly that no one anticipates. So, I work harder to accumulate so that if those unfortunate things happen, I still have money to take care of. My opinion: It is not enough to eat well and dress well to be worth living. I don’t shop often, rarely eat out, never have coffee with friends, or even go to the cinema. Saying these things to new friends, everyone is always surprised, and exclaims: ‘What have you been doing in Hanoi all these years. Just go to school, work and then go home?’. But I never feel sad, and I never need to be amused by those things.
Work hard to save so that unexpected risks occur, and you can also take care of them. (Pinner illustration)
My further goal is to save a small amount of capital and then return to my hometown to start a business. That project has been cherished by me since my school days. Saving from a very early age is also so that in the near future, I can realize my dream.”
As for Minh Chu (26 years old, financial officer), he drew a thought: “Those who know how to save are those who know how to calculate and plan for the future. Those who choose to invest are enriching for the future. “.
Accordingly, Minh Chu said that he always goes along with saving and investing, rather than choosing to lean to one side at all: “For each amount of money, there will be a separate purpose. Learn personal financial management. benevolent early, help me realize the importance of saving, and the miracle of investing.My mother once fell into a critical situation and needed to use a large amount of money for medical treatment. I withdrew all my previous savings to take care of medical treatment and medicine for a whole month. At that time, I also had to take care of my mother, and could not eat when I went to work, but fortunately, I always prepared an initial amount of money. When I need to, I can also withdraw a little profit to take care of things. Ro, I’m not too pressured anymore”.
If you can’t increase your income in a short time, make an effort to save
Ngoc Nguyen once fell into a long-term low-income situation. But she said: In any situation, I have a specific spending plan!
“Everyone wants to increase their income in the shortest time, but not everyone can do it. But the most important thing is that in any situation, I never stop trying and striving. In that process, I have not once thought: If your income is too low, you don’t need to save anymore, just spend it comfortably and earn later. This is completely wrong, it will make you fall into the habit of not knowing how to control spending.
When I first graduated from college, I lived in Hanoi, but when I told everyone that I received a salary of 5 million and still saved 1.5 million/month – no one believed it. But I can do it. I rented an apartment, chose an affordable apartment and shared with other people, the monthly room fee was only nearly 1 million VND. Eating and drinking is also more economical, not wasting money and often eating at home, only spending less than 2 million. It is still more than 500k for trifles arising. At that time, I did not feel any pain, still loved life and devoted myself to work.
After that, thanks to my hard work and continuous improvement, I gradually rose to the position of team leader, then department head, and now a personal manager of a team. The higher the income level, the better life is, but I have never thought of wasting money, or spending on unworthy pleasures.
In the case that finding ways to increase income is still difficult, I think saving is the best way, for people with low income. But besides that, you must have your own dreams and goals, to constantly strive.”
Savings and investments are extremely important in personal finance. (Pinner illustration)
With Minh Chu, he also went through some unhappy days, only to realize how important saving and investing is in personal finance. Minh Chu said: “My friends are many people who have good lives, they go to SH, use iPhone, I have never been envious. But once, I really wanted to watch a good movie, but I didn’t have enough money to watch a good movie. I can’t buy tickets to go to the cinema. I feel so sorry. That’s also the motivation, helping me to keep working hard to make money until today.
Later, through the days of my own struggle, I had enough money to cover the entire cinema, but I was no longer interested in watching it. Because I know how to spend money on more important things. Former boss once said: As you broaden your horizons, you will no longer see the little things that can interfere with your earning and career advancement. I feel right, and am trying to save money to invest in the future.
I ignore the contemptuous words of others, when I see myself rejecting drinking parties and parties. Don’t care about judgment when not wearing branded clothes despite high income. I just think about every penny I spend, whether it’s worth it or not. If you do not know how to spend and save properly, you will easily miss many good investment opportunities.
You should not have the thought of working hard, you must have a worthy enjoyment, spend money to enjoy yourself. But always think about the future, about the risks you may face, to save money to solve. Ask yourself a question: If you meet a small wave, like your parents are sick without money for treatment, is it worth spending money today on an iphone, ipad?