To develop any habit, whether financial or otherwise, you must have to put in an effort. That often means making little consistent tweaks or adjustments over a long period of time. Perhaps, days, weeks, months or even years. If you truly want to change your habits, you must have to commit yourself to something different for a little long time.
By the way, time is one of the major keys to building wealth and investing. As a matter of fact, time wisely invested might become your most important asset in life.
Oh yes, that is as a result of compounded interest, when you realize some returns on your investments, and those returns realize more returns, and so it continues on.
You should apply this principle of compounding to the rest of your life. Compounding can be applied to different areas from: reading a book, to working out, to eating healthy, also to spending quality time with those people you love, getting up early, and many other areas of your life, according to Thomas Oppong, Medium publisher.
Incremental changes doubtlessly beget exponential growth.
Oppong writes, “Compounding is like making ‘daily deposits’ into goals, ideas, projects, people that are important to you, and watching them build over time. ”
The writer encouraged everyone to aim at going the extra mile by added 5% in every piece of work, action, or interaction you take. If there is any area of your life that you want to improve or a skill to sharpen, start small, start now, invest a little of your time and attention, do that consistently for a long period of time and watch out for the power of compounding paying off real time in your life.