So, a few days ago, I shared a post asking people how much they’d need to save monthly to reach just 1 million in 5 years (see image below). The feedback I got can be summarized into two: While a few people said, “Chai! I need to increase my income and then my savings rate”, Most people said, “Money wey no dey, how we go come save?” LOL! :) :D
Yes, there’s sure a need to keep increasing income streams by exchanging value for cash; that will never stop. But more money DOES NOT also equal more savings but more expenses (Parkinson’s law, Eccl. 5:11). What really equal more savings is doing it consistently (with autosave or otherwise) regardless of how small UNTIL THE HABIT IS FORMED!
…more money DOES NOT equal more savings but more expenses.
And the best way to do it consistently to develop the habit is with autosave. That’s why autosave is the new save!
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