Saving Rate: How To Calculate It And 3 Ways To Increase It

Saving Rate is the percentage of income a person sets aside every year. The money does not need to be held in cash and can be used to buy income producing assets.

The important part is that it is not spent. It is saved or invested for spending in the future.

The advantage of high Personal Saving Rate is that your expenses are low relative to income.

Greater Savings To Invest A high Personal Saving Rate indicates that you are saving a greater percentage of what you earn. We know that accumulating assets is the secret to getting insanely rich.

While we may not agree with everything he says, there are nine decades of wisdom buried in Warren Buffett’s quotes.

The more you save, the more you can invest in assets such as as stocks, crowd funded real estate deals, real estate, etc.

Reduce Taxes

Look at every possible means to reduce taxes. Planning for taxes should be an ongoing activity.

Reduce Expenses

If you already have a car loan, student loan or credit card debt; you should strongly consider refinancing to lower your interest payments.

The Federal Reserve has lowered interest rates across the board. Take advantage of it and check out personal loan rates in 2 minutes from up to 10 vetted lenders on Credible.

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