Starting small: Making that money (and keeping it)

Image Source: gigbucks.com

What many people fail to realize in their attempt at wealth generation is that, by and large, it all depends on how much money they make after all expenses are subtracted from their income. Many are often under the impression that to make money, one must make a lot of money through income, usually through a higher-paying job.

Image Source: duxfinancial.co.nz

And while it is true that those with high amounts of cash tend to be catered to by mainstream financial institutions, the greatest aspect of successful personal financial planning for retirement and beyond can be done for rather miniscule amounts.

Image Source: weonlydothisonce.com

The key act in making personal finance work is not the amount of savings made but the act of saving itself. Having a mindset that emphasizes on saving money and having as much as one can spare saved up is the penultimate foundation of sustainable financial, investment, and retirement plans. Having any amount of income saved is just as important as making a lot of income.

There is no magic number one must reach to begin planning for one’s financial future. Financial planning rests not on how much money one starts with but how often and how much of that money is saved up. The important thing is to get started.

Matt Sapaula is a financial planning expert and media personality. Visit this website for more on him and his work.