EARLIER DAYS, ELDERLY PEOPLE USED TO SAY 'save for the rainy days"

@ssh123 (31100)
India
October 23, 2006 1:53am CST
Do not live beyond your means and try to save for difficult and unforeseen expenditures. These sayings have been given a go by? Do you agree? Narrate one instance when you were in financial trouble due to not following the above principle
1 person likes this
10 responses
@pumpkinjam (5782)
• United Kingdom
3 Nov 06
I agree with those sayings and I have always done my best to stick by them. However, it's not always possible to do that. It was a lot easier in those earlier days for many people, I think. Now though, a lot of people are lucky to earn enough money to just pay bills. I'd love to be able to save for a rainy day but that fact is that despite trying to live within our means, there is nothing lesft at the end of it to save! Saying that, there are people who get into serious debt simply because they want more than they can afford and they won't go without.
@ssh123 (31100)
• India
4 Nov 06
You have said it right. Thank you very much for your interesting and thought provoking response.
1 person likes this
@ssh123 (31100)
• India
10 Dec 06
Your response has been adjudged as the best response.
1 person likes this
• United Kingdom
14 Dec 06
Thank you for choosing my answer!
• India
19 Jan 07
I belive in 100% we have to save money for unforeseen expenditure . i will tell u where this phrase help me . My husband has a LIC policy which his father has taken 1993 , it is very small amount 1296/- every six month . last year we came here means hyderabad . we have decided to take admission of my baby in good school which is icsc board and their admission fees 17350/- like that. my husband is working in a private company so we don't have that much in a bank . i just send Loan application to LIC and they send the cheque amount 17500/-. we don't belive this that this small saving help us when we need this .
@ssh123 (31100)
• India
19 Jan 07
You example has answered the discussion topic. Very interesting response and it is an eye opener for others who do not care or bother to save money.
@vikceo (1301)
• India
15 Dec 06
i never understood the meaning of this
@ssh123 (31100)
• India
16 Dec 06
In life difficulties will not announce in advance and come. They come all of a sudden. If you do not save money for such unforseen expenses, life becomes miserable. Therefore, one should save money as and when possible, instead of spending all the money month after month. The word Rainy day is used, because in places where it rains heavily for weeks and fortnight, people cannot go for work. During this period they cannot earn money. Then they cannot buy food. Hence save for rainy day, means keep money for purchasing food items and other requirements when it rains.
@Sunset50 (1397)
• United States
15 Dec 06
We throw all our change in a jar. It has helped us so many times when a bill is due and we are a little short. This year, it was enough to do our Christmas shopping. My grandson noticed what we do and he has now started to do the same. Hopefully he will have good spending habits when he is an adult in a few years.
@ssh123 (31100)
• India
16 Dec 06
That is why people used to say that there should be grandma in everyhouse. Children learn useful things more from grandma. What you have said about saving for rainyday, is quite amazing. Good response. Thanks.
@sherinek (3323)
• United States
13 Dec 06
I agree with the saying. But saving has become very difficult. So what I do is I have instructed the bank to transfer some money to another hidden account as soon as I receive my salary. That money I keep for a rainy day.
@ssh123 (31100)
• India
15 Dec 06
That sounds some sensible arrangement. That is how one can save money, when one cannot control the expenses.
• United States
12 Dec 06
We can learn alot by the older generation. My dad told me this saying. The older he got the smarter his dad became..I am now 36 years old and am finding the same thing...somedays it just irritates me because he is usually right. I am working on saving for a rainy day as you never know the future...
@ssh123 (31100)
• India
15 Dec 06
You are right. One need to save small amounts and never touch unless it is very essential where you do not get any other source of funds.
@momto2b2g (217)
• United States
11 Dec 06
Gosh that is so true. You need to save and not live beyond your means. It's alot easier said than done. You need to save a little every time you get paid even if it's just a dollar or two. It will add up. It may not seem like much but every little bit helps.
@ssh123 (31100)
• India
11 Dec 06
every drop of water makes mighty ocean if collected is the saying. You said it correct. If the money is in the hand or seen around, tendency is to spend it. Money is slippery. Hence either put in a bank, or keep in a place where it is not seen (of course to be seen when you really need it). Thrifiness is a habit, and our children should be taught immediately, so that extreavaganza expenses can be cut down. Thanks for your interesting and thought provoking response. I am going to your profile to responod to one of yours.
@Sunset50 (1397)
• United States
9 Nov 06
I believe in saving for a rainy day. I think it is wise to have at least two months saved up in the event of an emergency. Several years ago, husband and I had a business, he became ill and had to sell it due to health. The lifestyle we enjoyed then was too expensive for the much lower income we had. Through savings and hard work, we finally came out of the financial mess. Now we are even more careful to not fall into the 'I got to have it because it's new' trend that seems rampant here in America.
@ssh123 (31100)
• India
10 Nov 06
I agree with you fully. Due to mass influence, people tend to spend more than what they can. This is a psychological problem. Thank you very much for your interesting response.
• India
3 Nov 06
I beleive with the above saying. I am the kind of person who would save for the rainy day. I have saved a small amount of money which my parents are not aware of. My father is a businessman and he do need some urgent cash sometimes. In this kind of situations, I help him with my saving and if it is a big amount like Rs 10,000 I, just say that I have borrowed it from my friends so that he returns that to me and I can again give him back when he needs it.
@ssh123 (31100)
• India
4 Nov 06
Thank you very much for your interesting response. Hope your savings earn interest in the bank when it is not required by your father.
@rladiga00 (1166)
• India
23 Oct 06
I have experienced myself several times. If savings are exhausted, at times when money is badly required, it is difficult to get the funds. I fully endorse the view that people should save the money instead of spending all the money.
@ssh123 (31100)
• India
23 Oct 06
thanks for the response.