Good evening friends. It's a good feeling coming back to thus hang out again. And this weekend topic is quite an interesting one.
My experience in this matter of saving started when I turned sixteen. I can remember vividly how my late father took me to a mortgaged house (kind of commercial bank) where I could start saving. I opened an account and was given a passbook. The sight of the passbook along with my meager savings was so encouraging. That has been my lifestyle all along. There is something about savings I want to show you.......just come along.
Go To The Ants
The little animals, or rather should I say insects are known for resilience and hard work. They labor throughout the dry season, gathering seeds deep down under the earth. They do this so that when the rainy season comes, a season that can not withstand. They prepare so much for rainy days.
Simply put, there is wisdom in saving. No one expects or looks forward to a period of need to spend money to save life or bail out oneself from a dangerous situation, but one has to prepare. And the only way to do that is to save.
I once had a younger neighbor who wanted to drive his car after secondary school he started saving half of his pocket money in the hands of his mother at that tender age.
How Much Can You Save?
From my little knowledge of personal economics, an individual could escape poverty when they have up to 25% of their net income.
This has to be by individual discipline. Without which one may not be able to account for what his or her money was spent.
The need to only get what would satisfy your need and not want. Remember that human wants are insatiable and no matter how you satisfy your present desire, you will always want more like Oliver Twist.
Some Friends
There are funny friends who I can call a negative influence. They will tell you It doesn't matter. This phrase is common such that until have finished the money you have, they won't allow you rest. This is why thr issue of financial discipline comes to play.
Wow,, you talk true sir. If one needs to have the knowledge of saving, go to the ants and learn from them. Also, one would escape poverty if one is disciplined to save up to 25% consistently. Of course, this has to come with dealing with budgeting and spending. In the future, one will come to appreciate the fact of saving at the right time. Thanks for sharing your idea on this topic.
Thank you so very much.
The power to save is a propensity to break the chords of poverty.
They day I read very well about the ant I learned more about saving and industriousness, I also learned the importance of making wise use of any moment which includes the time we should start saving, is not good to keep procrastinating on what we want to do.
Thank you so much. The message is understood.
Ants could be small but their reasoning is worth emulating. Time is a precious gift that we ought to use wisely.
A minute is very important in our lives
Yeah. It is.
When such information is spread, everyone should take their portion from the lot.
Of course procrastination is really a harmful habit which should not be cultivated.
Wow...the Economist have spoken to me
25% looks cool
I love the ant illustration u used
Saving from 15 years of age? I respect Ur dad
Economist kwa..... I just spoke out of my experience....but its nice to see that you grabbed it.
I think we should teach people to save. A piggy bank for the kids could be a starter.
Then that your experience is the deal because you have actually spoken well.
I salute you wisdom and sense of illustration.
Piggy bank is actually a good idea and a children account isn't a bad idea as well
Yeah
Children account is a great idea.
He is the real Odogwu.
Parents as of that time will rather get you a piggy box.
Why not consider a financial mentorship. All this wisdom no suppose dey for just one person na, you gat spread the gospel around. Sense overflow hehehe.
You are absolutely right, saving is very important and one needs to stay out of negative influence because those kind of friends are taking their savings and investments serious in the closet.
Hmmm.
Another secret, revealed.
They could be having a great deal of savings in their closet.
Sure, it's just the truth.
People can be so unpredictable. Have seen lots of cases like that