Save 10%

On my desktop for positive people called, Cool Beans it says, “Save 10 % of all your income streams...”

This blog post idea came to me last night, when Catriona sent me a text asking me to electronically transfer another £50.00. Mmm ….perhaps a gap year in Australia and living apart from her mother means that our darling daughter may need ‘input’ and to be reminded that when she left she had the reputation of being excellent money manager!

And the Save 10% maxim seems a truism in today’s world, where the financial press is talking of major debt in the US – in its sub-prime sector. Now I am a simple lass with a good Scottish heritage of thrift woven into her basic character. Until this week I had never heard of the sub-prime sector and would not propose for a moment to advise on worldwide economies. However, I do understand straightforward profit and loss accounts and run my own company.

To quote Charles Dickens in Mr Micawber, “"Annual income twenty pounds, annual expenditure nineteen, nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

And as my quotation Cool Beans quote goes on to say, “Money is a tool… learn to be a craftsman…”

Save 10% is the yardstick that our children have been brought up on. Even when Kyle was working on a friend's farm milking cows as a young lad of twelve he was encouraged to save 10%. Even Catriona’s tips from Crewe Hall Hotel had a levy of 10% and we asked no less of ourselves. We overpaid on our mortgage by 10% for many years and yes you guessed…we no longer have mortgage…just imagine how good that feels! And anyone can be debt free …it only takes a plan and determination and 10%!

It may not always be easy however the result far outweighs any short term discomfort. And if the save 10% maxim becomes your life standard then you can prepare yourself for an amazing abundance.

I know that I cannot change the international money markets…however if we all aim to have “more month than money” then who knows maybe together we could influence a financial revolution!

As a non-expert, I knew that I needed more knowledge too – and so that is why this year Jay and I decided to take independent financial advice.

My Save 10% Tip today is – seek the advice of an independent financial advisor, perhaps one like Douglas Morrison, who came with a good recommendation. My brother-in-law, Jackie Muir, is a successful and wealthy man and he referred me to Douglas. Perhaps your bank or building society has recently offered you a financial review and that is a place to start, however that report will only reflect the products and services of that financial institution. So be independent and look for sound advice and compare the facts...

What good money tips do you have? Can you offer golden nuggets that could help us all?

Let me start another ball rolling (see Kath’s comment on Bouncy Black Ball)

Look forward to reading your tried and tested, simple money/energy/time 10% Tips…