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Saving Up

firefaery 21 September 2008 Economics 13 views No Comment  Print This Post

Money makes the world go round. This may not sound 100% true to you, but I know that you’ll agree that money is a really important thing. Most of the things you own right now were bought with money—the items for sale at the mall that you wish to purchase and our everyday necessities that need money to be acquired. That’s why money is really important. But it’s also not right to worship money. People who worship money have the tendency to do bad things just to obtain it.

Whether you are still a student or already have a stable job, it is a good habit to save at least 10% of what you earn monthly. If you want to buy something for yourself and are also saving up for it, then keep another separate percentage of your money. Your savings are not for you to spend on things that you just want to buy. Those things can wait. Your savings will be your backup money if there ever is an emergency – and an emergency does not mean an on-sale brand name shirt!

If you’re a student and your monthly allowance is not that much, you may think that 10% of it is such a small amount that it will not go anywhere if you save it. However, it will slowly grow into a large amount in a few years’ time. You may think, when that year comes, that the money you have saved won’t be able to buy what you desire anymore because prices have gone up as well. But what would you rather choose when that time comes? Have the $100 that you saved last year or have NOTHING at all?

It is very important to save up money because you don’t really know when you’ll need it. Be it a need or a want, it is still best that you have money in your pocket when you need it. So, start saving now and be a smart spender.

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