4.8 • 1.6K Ratings
🗓️ 8 December 2021
⏱️ 32 minutes
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Your savings rate isn't the interest rate you're getting on savings in your bank, despite how it sounds. Rather, it is the amount of your income that you're saving each month or each week, and it's one of the most powerful levers in your control, when it comes to building wealth.
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0:00.0 | Hi folks, and welcome back to the Meaningful Money Podcast. |
0:02.7 | This is season 21, episode six. |
0:13.9 | Here we are, once again, great to have you back with us today. |
0:16.4 | Once again, joined by my good bud Roger Weeks. Welcome back, Roger. |
0:19.2 | Yeah, morning. Yeah. There we go. |
0:20.7 | This week we're going to be talking about Savings Rate. |
0:23.3 | What do we mean by Savings, right, mate? |
0:25.4 | Well, this isn't actually the interest rate you're going to get on your savings in the bank, |
0:28.9 | despite how that sounds. |
0:30.6 | Rather, it's the amount of income that you're saving each month or each week, |
0:34.6 | and it's one of the most powerful levers in your control when it comes to building wealth. |
0:37.6 | That's absolutely right. I've said that for years. |
0:40.9 | Actually, you'll be pleased to know we're getting some reviews through as often people who have heard you. |
0:45.3 | You know, some of the reviews have read out so far. |
0:47.7 | Well, the verdict is in. You haven't completely destroyed all the work that I've done here over the last 11 years. |
0:52.9 | So, yeah, thank you for that. |
0:54.7 | Glad to hear that. |
0:56.7 | But actually, we'll be reading one of those reviews that later on the show, |
0:59.9 | as well as answering a question from a listener and announcing the next session topic usual drill. |
1:04.5 | Okay, Savings Rate. How is it such a big deal when we're building wealth? |
1:09.6 | The reason for that is because it's your income. |
1:11.6 | That is the driver of building wealth into the future. |
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