Hello and welcome to the twelfth day of the June 30 days writing challenge. If you want to know all the details about this specific challenge, have a look at the introductory post. In short, I will be posting every day a short tip, or technique, or opinion, something that you can call a "life hack". Feel free to join the challenge and post your own life hacks. I will do my best to upvote each day at full strength (about $3 at the current STEEM price) 3 posts tagged #challenge30days (leaving a link to your posts in the comments will also help).
Save 10% Of Your Income
Since the financial life hacks seems to be appreciated by many of my readers, I decided to share another one today. It's one that was quite difficult to implement for me, but probably the best of all, at least until now.
So, it goes like this: save 10% of your income, no matter what. That means that each and every income that you get, should be instantly "shaved" by 10%. This money is to be put in a separate place (a fund, a vault, call it what you want) that you will never, ever touch, unless there is a very, very serious emergency - a life and death situation, a fundamental change in your life, like moving abroad, and so on and so forth.
It may feel very difficult in the beginning, especially if you're struggling to make ends meet. Seeing that money piling up in a fund so accessible, while you are struggling, is very tempting. But try to resist the temptation, it will really pay off in the long run.
This life hack - or, to better call it, this financial habit - will pay off especially if you are in debt. Again, it may seem very counterintuitive, but that's exactly when it should be applied, when your financial situation is dire. This cushion will protect you better than anything else. Believe me, I've been there. I've been really deep in debt and, apart from discipline and hard work, the most important element that helped me get back to flat was keeping 10% of my income outside the normal spending circuit.
I'm really curious to read about your life hack today. Leave a comment with a link to your post, if possible.
Previous Posts In The Challenge
- June 30 Days Writing Challenge - Life Hack - Day Eleven: Set - And Keep - A Monthly Personal Expense Budget
- June 30 Days Writing Challenge - Life Hack - Day Ten: Set A "Main Task" For Each Day
- June 30 Days Writing Challenge - Life Hack - Day Nine: Keep A Journal
- June 30 Days Writing Challenge - Life Hacks - Day Eight: Keep An Activity Log
- June 30 Days Writing Challenge - Life Hacks - Day Seven: Implement A New Habit With A 30 Days Challenge
- June 30 Days Writing Challenge - Life Hacks - Day Six: Put It In Front Of The Door
- June 30 Days Writing Challenge - Life Hacks - Day Five: The Pomodoro Technique
- June 30 Days Writing Challenge - Life Hacks - Day Four: Keep A Clear Mind By Unloading Ideas Immediately
- June 30 Days Writing Challenge - Life Hacks - Day Three: Intermittent Fasting
- June 30 Days Writing Challenge - Life Hacks - Day Two: The "2 Minutes" Time Management Rule
- June 30 Days Writing Challenge - Life Hacks - Day One: Avoid Fighting With A Simple Visualization Technique
- Announcing The June 30 Days Writing Challenge - Life Hacks
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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