the first of the big 5 secrets of money management

old mutual Zimbabwe has embarked on a nationwide tour of educating student on the secrets of money management. today i will be looking at the first of the 5 secrets which is the secret of the lion.

 secret of the Lion

Most people understand that they need to save, and they do save - but it's only “a bit” at the end of the month, or whenever they can. This doesn't always work, as there are always expenses that eat into this amount. The first secret of the Big Five is the Secret of the Lion.

Eat first, ahead of the pack

The secret of the Lion is to to eat first, ahead of the pack. What does this mean for you? Well, you too should "eat first" and you do this by arranging an automatic deduction from your salary or wages.
If you commit to an automatic, fixed savings plan, you will be forced to change your spending patterns. Even if you have started saving small amounts, you will be developing a savings habit. This habit will make it easier to increase saving over time. If you practice the Secret of the Lion, you will be well on your way to long-term financial security

more secrets of money management to come.......