Contradictions when it comes to savings
By Sanitary
@Sanitary (3968)
Singapore
November 8, 2010 5:43am CST
Majority of us don't have the habit of saving money no matter how much we earn. Whatever reflected in our bank account at the start of mid month, tens to be used up by the 3rd week or so and savings never seem possible. However when we are in debt, wanting to clear them, we seem to have a way to save up money for debts. Isn't that weird? Some of us might have gone through that period of time and they should understand the illogical side of it. So, is being in debt the way to force people to save? I do really think so.
3 people like this
7 responses
@musicman6 (2406)
• United States
16 Nov 10
One of the best sayings I've heard about saving is;;
"You will get nowhere in life financially spending all your money all the time" !
2 people like this
@musicman6 (2406)
• United States
19 Nov 10
The point of saving is to accumulate enough to when you need money, you have enough to 'borrow' from yourself, and avoid finance fees, and charges when you get into debt borrowing from someone else! That way you will always get to spend 'your' money, and not give some of it to a debtor!
It takes a lot of discipline to accomplish this, but it can be done!
1 person likes this
@ckyera (17332)
• Philippines
11 Nov 10
yeah i agree. debt will force us to save money and motivates us to work more. hehe
saving is not easy and i know that for myself. how many times do i try to save but always fail. hehe because i am always thinking of the money that i save and that's why i end up spending them! and sometimes whenever i save some, that's also the time someone from my family will be needing it so i just give it to them.
haiz! how i wish i can be good in saving but just like hat you have said, i can just save effectively when i have some debt to settle!
2 people like this
@Sanitary (3968)
• Singapore
11 Nov 10
Correct. Money is meant to be spent after all right? What's the point in earning that much only to have it all in the bank, refusing to spend. Won't we be like beggars then? But if we don't save up, we won't have any money when it comes to emergencies or in the case like yours, family members needing it. At least your savings come in handy, that's good.
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@ckyera (17332)
• Philippines
14 Nov 10
yeah, after all we are working to earn so that we can buy the things that we need and if there's some more buy things that we like. its not bad to reward ourselves sometimes from the hard work that we do.
i think it will be good if you have a goal in saving like, you will tell to yourself that i will use this saving to buy this or that...hehe maybe that will do.
yeah, but sometimes as i look back, most of the money that i earn, i don't really get some for myself, most of it goes to my loved ones. i don't know but when it comes to myself i am kinda frugal but to my husband, brother and parents, i am willing to give even the last centavo that i have in my pocket!
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@GloomCookieLex (6073)
• United States
8 Nov 10
My husband and I began saving the minute we got married. We started off with what little money we were given as a wedding gift and from there my husband put about half of our spending money into the savings account every paycheck. My mother recently had some serious money problems and we had to loan her about a third of our savings so we don't have as much as usual, but she's paying us back and he still puts money in every pay period so the savings is alive and well. I have never been in debt for anything and my husband only has student loans left over from a few years ago.
2 people like this
@Jennlk84 (4206)
• United States
8 Nov 10
Hmm I think I may be different. I am a girl who lives for savings, bargains, etc. So I'm always trying to find the best way to cut corners and save money while also keeping my debt in check. My hubby and I pay off our debts and put back money to save incase of an emergency and for our future, each month.
2 people like this
@asendud (318)
• Indonesia
8 Nov 10
yeah, i agree with you, not just to save money, but debt will force people to work hardly to earn much money. but i wonder someone not just work to get much money, maybe they will do more, like steal or rob. i hope people doesn't do so far, but who know in this crisis world.
@pankajgarg (797)
• India
10 Nov 10
well saving can be done in normal circumstances, but some people are extravagant and use up all their money, but when they have to pay a debt they do save for the same.
so in my opinion like i do, i try to save and generally save 20% of what i earn but sometimes you cannot help yourself. so in debt you will be able to save but you have to pay that.
in my opinion we should mend our ways to save in normal conditions for an emergency financial need.
2 people like this
@pankajgarg (797)
• India
11 Nov 10
yes it seems weird but when we have to give money to someone we save that much for it. this is great because you can take a loan from a bank and return it if you are not into saving.
2 people like this
@kun2349 (23381)
• Singapore
15 Nov 10
haha =D YEah! That's so true! When i'm not in debt, i wont have any savings at all, because i spend whatever i earn.. haha =D BUt once i know i have to pay off things or to people, i will be sure to put aside some money, even though i'm earning much lesser than before.. haha =D I just dun understand why am i able to do it, with lesser earnings, and not with more earnings.. haha 
