Ari Rastegar is an attorney and professional investor who says that saving money is a good thing. You aren’t likely to get much disagreement with him there. We all need to save money for a lot of different things, many of them having to do with security and safety. We need to save for reasons both short and long-term.
“I think the most important thing is, people don’t know where they’re going, and certainly, they don’t know where they were,” he says. He is the founder and CEO of Rastegar Capital in Dallas, Texas. “And what I mean by that is, people don’t watch their spending habits. They don’t know where their money is going on a monthly basis. They just end up being short. Whereas I think the most important thing to do is, review your historical financials. And I don’t care if you’re a college student, or have a six -figure income, you know, and two kids; it’s very important as a family, or as an individual, that you look back on your previous year, certainly your previous three months, and have a systemized budget. Have something in place where you know what your fixed costs are.”
Ari Rastegar says you have to treat yourself like a business; you must be the CEO of your own life. “Look at where your rents are, where your static recurring costs are, and try to find those savings. But until you define reality, savings will be some idea that just never ends up happening.”