People’s lifestyle has changed drastically, people are living from hand to mouth, others are spending money they don’t have, others are just spending.
It has become so serious that in financial programs every group is talking about saving. The other day people on Social media engaged in conversations on how they can save. Some came up with 100bob a week plan, another came up with 20bob a day and many other strategies.
From the songs of saving now, we have people who are ‘over saving’. You find that people have millions in the bank yet they live in a thatched house or has only one pair of deformed shoe. When we reach that point we are now being selfish to ourselves in the name of savings.
Savings are meant to save you on a rainy day. It is a good habit to nurture and at the end of the day, your savings come in handy, especially when you unexpectedly lose a job or you have a major project you are undertaking. Not to confine you to a life of bondage.
You must save with a plan in mind; not just saving because everyone else is saving. It is criminal to deny yourself even a decent pair of shoes because you are ‘saving’. When will you enjoy your sweat?
There has been this trending formula on social media about human beings, donkeys and working like slaves. It goes something like; work + eat + sleep = donkey. Work + eat + sleep + enjoy = human being. Therefore, if savings removes ‘enjoy’ from this formula, there is no difference between you and a donkey.
Today, you must sit back and ask yourself many questions; why do you save money? What is the point of denying yourself a few life’s luxuries just because you want your savings account to grow into millions?
Life is not forever, you are here for a season and you should learn to appreciate it. Do not make your children feel like paupers yet their mother has a lot of money stashed in the bank.
Why we save
1. To rescue us when we are stranded…for example, if you fall ill or a family member needs treatment. Even if insurance takes care of the hospital bill, you will need money to run up and down when you have a patient. It should also sustain you in case you lose your regular income until you are back on your feet again.
2. For investments. As you save, you obviously have something in mind about what you want to do with your money. As you nurture your savings towards your ultimate plan, you can make the money earn more by putting it in other projects such as securities, land or business. Land, for instance, will give you more money even if you sell it a few days after buying.
3. For that dream holiday. That exotic place you visualized yourself visiting when you were young is realizable through savings.
4. For retirement. Indeed you need some income when you are no longer able to work.