• fabianlau

The Key To Having Riches

People often ask how much should they save every month.

Well I can’t give an absolute amount but a good rule of thumb is to save at least 20% of your take home income. This rule may not sound new to many of you, however it may not be easily practiced by many as well.

I believed during the months where we experienced nation lock-down, most of us spent most of our time working from home. And because we have no social gatherings, weddings or birthday parties to attend, less traveling to work, many people shared with me that they get to save more, as much as up to 60% of their income. Less shopping and grooming are needed since they are just working from home.

By now, you would have realized that the key to having riches is not about how much you earn but rather, your riches depends on how much you can set aside and save. When you cut down on your lifestyle spending (the wants) and focus only on daily necessity (the needs), you know you can actually be a good saver.

So stop giving yourself excuses that because you don’t earn “that high income”, you can’t save that much.


Rule of thumb is to save at least 20% of your take home income.


You can definitely live by without the extra bubble tea after lunch, that plain tee that’s on 50% off, you don't need another set of workout attire, not as if you workout 3 times a day and your kids can still play with their old toys.

Let this be your new habit: put aside 20% of your income on your pay day, then calculate your fixed expenses. The remaining are for your variable and entertainment expenses.

Try not to spend all your remaining because the key to be rich tomorrow depends on how much you force yourself to save today.

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