This book changed the way I see saving when I was a varsity student

Good morning 🌞 

Today I would like to talk about one of the books that helped me get started in building my knowledge in wealth creation.

Just like many people I used to spend and then save the leftovers but this book showed me I save first then spend the rest, that’s when my whole perspective on saving when I was in UB started.

It occurred to me that if I save first somehow I was still able to pay for my expenses and I didn’t understand how I was able to do that but let me share five lessons I learned from the book and my experience with them currently (what I’m executing and what I haven’t or need to start doing again)

And then I will rate myself based on the amount I’m executing on these lessons out of 5.

1. Pay Yourself First:

• Allocate at least 10% of your earnings to savings before addressing other expenses. This practice ensures consistent wealth accumulation over time.

(I like this lesson I actually executed it a lot in varsity and last year but not intensely like I was at UB so I need to start doing it more this year)

I give it a 2/5

2. Live Within Your Means:

• Distinguish between needs and wants to prevent unnecessary expenditures. By controlling spending, you can save more and avoid financial strain.

( I lived within my means since 2023 but 2024 was harder for me financially not that I was living above my means but I was earning way less than in 2023 because I’m a freelancer and money wasn’t consistent to even consider wasting it anyway but I still had a budget and tracked it)

I give it a 3.6/5

3. Make Your Money Work for You:

• Invest your savings wisely to generate returns. Allowing your money to grow through prudent investments leads to financial independence.

(I did this better in 2024 than in my varsity days through investing in dividend generating stocks although individual stocks are not my 2025 focus I’m still locked in to do it as a collective with my friend)

I give it a 3/5

4. Protect Your Wealth:

• Avoid high-risk investments and seek advice from knowledgeable individuals. Safeguarding your assets ensures long-term financial security.

(I haven’t made so much wealth yet to say I am protecting it from high risk investments but I have lost money in risky things like trading I could have gone for something safer)

I give it a 1.5/5

5. Increase Your Earning Potential:

• Continuously enhance your skills and knowledge to boost your income. Investing in self-improvement opens doors to greater financial opportunities.

( This is where I’m currently at, I am investing more in my skills than anywhere else, I am reinvesting in editing videos again and also in marketing courses, just the beginning of this month I bought a Udemy course on building sales funnels and it’s incredible. I’ll be buying courses related to editing on Premiere Pro and After Effects later this year as a way to improve my motion graphics skills)

I give it a 5/5 for me

That’s all I have, which of these are you executing and which are you strengthens and weaknesses