STEP 1: Saving Comes First
As saving always comes first, the first step has to be to open a new account and put money into it. This could be a savings account at your bank, a robo-advisor app on your phone or an investment account at a broker, online or offline. If you don’t have any of those, start with the first. Once you have one of those – or if you already have all of them – put some money in that account.
Please try to do it now.
While you’re at it, quickly calculate a small sum that you can afford to have regularly transferred into that account, and arrange for that.
When we meditate, it is common to set an intention at the beginning. With finance, intention setting can be important, but the practice is vital. Because you’re already reading this, we think you already have the intention to save. So instead, create somewhere to put that saving, and put something in it right now.
This could take as little as five, ten or fifteen minutes. If this is the account that kick-starts your saving habit and results in your financial security or even freedom, it could be the most valuable 15 minutes of your life. Please do it now.
This is an excerpt from The Little Book of Zen Money. Find out more here.