Step 8: How to save and spent with your income? Story of Gold Duck Egg (Part 1)

Frankly speaking, this is the secret avatar that I think most interesting and practical for me.

First of all, let me ask you a question: if you got $10,000 as a bonus, what you gonna do with this money?
Most people answer will be: "save it in my dream saving box" or "pay off my debt" etc...

My suggestion here is use 50% of them save it as your "golden duck", 40% of them put it in your dream saving box / account and only 10% of them help to reduce personal debt.

"What?! golden duck?" let me tell you a story.

Once upon a time, there was one farmer. He uses to collect a duck egg from his only duck everyday morning. One morning, the duck egg was gold in color, he did not believe his eyes. He took the egg and brought it to the city and asked professional to verify. They all said that is a pure gold egg. Most ridiculous was he got another gold duck egg the next day morning. He was so happy and sold it off with lots of money. He started to celebrate his luck with parties. Day by day, he started to be greedy and wondering why his duck only gave him 1 a day but not 2 or 3 or more! He started to blame his duck at the end, he killed his duck and wanted to see whether anymore gold egg in it. Of course, no more egg for him in future.

If you were the farmer, will you kill the duck? I believe not.

But what is this story related to our saving habit? well, if we can save an amount to be our gold duck and our gold duck able to generate interest (gold egg) for us to spent daily but we still have our duck (principle) there, do you think is a good idea?

Of course you might not able to get your bonus that frequent to feed our gold duck. So, a good plan to generate more income is important.