Importance of saving money
February 29, 2016 7:34am CST
Everyone knows that saving money is a good habit. Most people wish that they can save money. When you ask them about the importance of saving money, they can give all the right answers. They know how important it is to have a sum of money for emergency and retirement. The problem is that their knowledge does not translate into action. They still spend every single cent they earn. It is as if they cannot bear to see a thousand dollars in the bank. They must spend until they have just a few dollars left. They do not realize that the years after retirement mean a lot of money. They do not see the aged and the sick forking out so much money for medication and health checkups. They do not think that they will lack of money, even though they do not have saving when they are young and healthy. Most people realize the painful truth of not able to live comfortably after retirement when they are near that age. It is the time when reality sinks in. Never forget the importance of saving money. Always takes a look at those old people who cannot afford to stop working.
9 people like this
• United States
29 Feb 16
We are retired now and are pretty well set. My pension from being a teacher and my husband's pension from the federal government works out well for us. I am a big saver of all. I like to have money on hand to handle any emergencies that arise so that I can pay cash. I am awfully frugal and we live below our means.
• Pittsburgh, Pennsylvania
2 Mar 16
@dazzledlady I believe we should save for important occasions too more money because a person might get into a lot of trouble if they need more than they saved. But I also believe like you we should enjoy some of our earnings! Just not so many earnings like on Corvettes when a person can just afford to feed their family and then certainly can't feed a family with the corvette payments
3 Mar 16
For a person to live confidently, he must have money in the bank. With money, there is no fear, and he can live a peaceful and confident life. It is better to know that you can afford, but you do not want it, than to find that you need something, and you cannot afford.
• Guangzhou, China
29 Feb 16
Saving money is a habit for most Chinese. We will feel insecurity when we don't have some money in the bank. But today it seems that we tend to invest to it more than save it. The money will not worth as well as in the past because of the inflation. So we have to think out more ways to grow more money.
2 Mar 16
I think the lack of social security and a distrust of government are two main reasons for Chinese to save so much money. The ancient Chinese used to buy land, because land lasted forever, but now, the apartments are all sold in lease hold of a certain number of years. Not much point in buying so many apartments unless you can rent them out.