Archer

The archer is a valuable weapon in war. Its long distance attack can save the lives of foot soldiers that are on the battlefield waging hand to hand combat. One of the ways archers can be of use in personal finance is by debt relief.

Many people have issues with large amounts of debt and has it has become overwhelming to the point that they do not want to know how much they owe. This onslaught of debt and high interest can become a cycle of becoming lost into a financial moat.

The first thing an archer does is to lower the expenses and to cut spending. There are many ways this can be done such as driving less to lower paying for gas or using things more than once like grocery bags or hosting potluck dinner nights with friends and neighbors.

Next, increasing income will produce a larger distance between the archer and their debt. One way to increase income is simply to get a second job. Another path is to start a small business, for example, making crafts and selling them on the Internet can be a creative enterprise. A third method of increasing funds is through investing like in foreign exchange or other investment vehicle.

At this point, the archer has lowered their spending and increased income and has a surplus of funds which can be saved. Putting this in a savings account is a good way to keep track how much is being saved. Another route is to place it into a retirement account like an IRA or stock portfolio that can appreciate over time.

By decreasing spending and increasing income, the space between the two grows further and further apart making room to save what funding is left over.

Here is a diagram:

Expenses <—| Saving |—> Income

Lower spending and increase income and the saving grow.

A small note about giving. Giving is an important part of personal finance and can be considered when debt is relieved and saving has become regular. 

3 thoughts on “Archer

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