The thing with saving, is that nothing is a secret. It’s the having the information in one easy, accessible, place that makes the difference. What I’ve outlined here isn’t ground breaking news, but it’s a collection of tips on how to save money, stay focused, and be brave with your ambitions, from different experts in the field (and who better to listen to than the experts) pulled into one space to just make your life that bit easier.
And who doesn’t love an easy life?
Ingvar Kamprad, 90-year-old founder of super company IKEA, knows something about making money, and saving money. He is currently worth US$3.4 billion. In this article what he really attributes his fortune to, is understanding the true value of a krone. Understanding exactly what it takes to earn one, and exactly what it can buy you. The philosophy being, that if you know how hard it is to earn something, you will work harder to save it and make it go as far as you can.
Similarly, Wang Zhidong champions the idea of working hard and doing without in order to reach your goal, whatever that may be. As noted by TIME magazine, in order to save enough money to start his own company he “shut himself away in his tiny apartment” and dedicated himself to his goal. Eventually he would go on to found Sina Corp.; the Chinese telecom company that owns the super app, Weibo. Work hard, save hard, and you empower yourself by creating your own opportunities.
Focusing on a specific goal in the future, looking towards something tangible and choosing to do without in the short term in order to achieve what you truly want in the long term, is a similar theme in the advice given by all these hugely successful individuals. Weili Dai, director and co-founder of Marvell Technology Group, talks about working hard, going without, buying second hand furniture and old computers, in order to make their first company a success. It’s this focus on the long term that breeds good saving and working habits.
Finally, it may be old hat now to quote the ever visible and vocal Richard Branson, but the self made multi-millionaire is vocal for good reason; he has a lot of good advice to pass on. Not everybody is a fan, but his success is undeniable. In this interview, from Business Insider, he says; “Be or become an agent of positive change in your own enterprise […]”. He was actually speaking about philanthropy in business, and advocating responsible business choices, but I took it in a much wider sense. Embody that sentiment; not everyone has their own business, but all of us have our own individual ambitions in life. If you want to make good saving habits and turn around your current spending trends, then become an agent of positive change in your own behaviour. Take responsibility, and take control.
I believe this quote from Weili Dai encapsulates the essence of all the advice offered by these successful entrepreneurs and is something I try to keep in mind when I’m trying to be a bit more moneywise.
You should ask yourself if what you are about to do is going to help long-term success, or is this a short cut for today?
It’s not about instant gratification, or the immediate here and now. True success, in anything you do, comes from understanding first what it is that you want to achieve and then having the strength to stick to your convictions. To make choices in the here and now that will pay dividends in the future. This is as much true for achieving small personal goals, as it is for running a global company.