What Is Savings: Why We Need a Definition

https://www.youtube.com/watch?v=Fs6S8Kfwy8Q

In all the financial pressure you feel to plan for the future, have you ever stopped to consider, fundamentally, what is savings?  Often the answer is in asking the right questions.  Concerning great questions, this is one that will behoove you to ask, understand, and answer that question for yourself.Savings.  We love having it.  We know we need it.  Everybody wants more of it.Savings is a precept of wealth-building.  It’s a foundational cornerstone and precursor to success in almost every other area of your financial life.

And yet, frankly, the savings levels of American adults are embarrassing.  Most people’s bank account languishes far beneath the level of what they want to have.

According to a 2016 GOBankingRates survey, 34% of all adults in the U.S. have $0 in savings, 35% have less than $1000, and ONLY 15% have $10,000 or more.

There’s a disparity between our desire to save and the amount we have in savings.  For that reason, our mindset about savings becomes laden with guilt.

To add insult to injury, there’s confusion about what savings, in fact, is.

It’s pretty hard to achieve something you don’t feel good about or have a clear definition of.  It will continually be “un-prioritized.”

Where Savings Fits into Your Cashflow Creation System

Building a stockpile of savings is to help you weather months of tight income or unforeseen expenses will move you light years ahead towards peace of mind and financial stability.  But it’s just one small step of a greater journey of building time and money freedom.  

That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System.  

The first step is keeping more of the money you make.  This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund.  This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest.

Then, you’ll protect your money with savings, insurance and legal protection.  Here, you’ll create the right canopy of protection in your financial life.  This second stage encompasses all aspects of Privatized Banking, a key savings and capital deployment strategy that secures your access to capital, maximizing your control, by allowing you to be your own banker.

Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy.

The Nuts and Bolts

To clear the air and help you save more, let’s get down to brass tacks.

We’re tackling what savings is and what it isn’t.  We’ll answer:

* What is savings and what is it not?* How do I know if it’s savings?* Where can I save my money?* What are the best places to save money?

And we’ll share the four top reasons why people aren’t saving, to help you overcome them and set you on a course to finan...