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SavHelp

Business growth guide for every beginner

How to use your savings to build wealth

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Aug 12, 2020 ,

DO YOU KNOW YOU CAN USE YOUR SAVING TO BUILD WEALTH?

Do you know you can use your saving to build wealth? Oh yes, you can.  We all know school doesn’t teach us money management ( especially how to make money) we learn theses things mostly after we have made some financial mistake. 

Savings is the money keep aside from your income for future purposes. The truth is that if you keep saving your money in the bank. It will never grow as much as you want it to. Money kept in a savings account will likely be like that in the next 10years with a little interest in it. 

If you have ever wished to be your own boss or you are the one that doesn’t like to work for anyone. If after you graduate from school and you don’t have the money to accomplish your dream at that moment. I will advise you to get a job.

Get a job that pays well and start to save for your dream business or whatever it is you want to accomplish. You will have to work for that money to be able to raise the amount to get you started with your business. 

You can give yourself a target of 8 years to work for a company depending on the salary you are being paid. After that 8 years and you have saved enough to enable you to get started, do your research on the business you are about to establish.make sure you have a good knowledge of the business so your business doesn’t close due to lack of bad management.

Quick read ; Never borrow to start a business

Once you are 100% sure you have equipped your self for the business. Look for someone in the same business line. See how they run the business. You can even ask to work with them for a while so you can have practical knowledge of the business. After you have gotten all you need. You can set up your own business and successfully manage it.

Now you have used your savings to build your own business (wealth). Instead of just leaving it in the bank. In the future, your business can expand which means more money, and soon you won’t have to chase money. The money will start to work for you.

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