Savers! Are You a Saver? Did You Teach yourself to Save?

Unlike the Western world, we in India are brought up on the concept of saving and not the concept of consumerism.There are many instruments of saving like company fixed deposits, bank fixed deposits, insurance, mutual funds, government saving schemes etc.Almost everybody except the poor have some sort of saving. In our country we have to work very hard to save some amount since the cost of living is very high due to inflation besides salaries do not go up very much.There is also no social security so the poor remain poor and have really to slave to have two meals a day.Ever since i started working i have been saving, first putting money in my bank savings account and then going for other saving instruments.Thats why when the 2008 worldwide slump came we in India though affected, did not feel the impact so much as in the Western countries.Our economy withstood the slump quite remarkably and made a swift comeback.Since we do not have the concept of mortgage and own everything,including our houses,again we did not suffer very much monetarily.My house is rented and the rent is ridiculously low, $ 7.0/month so i was not affected much.Yes my finances did receive a hit but i have managed because of the saving habit.In our country and in the family, the father works hard to provide for hi family and save for his childrens future so they don`t find it troublesome when money is needed for their education.Later on the children earn on their own and repay their parents by taking care of them in their old age.

I have always been taught to save. From young, I have a piggy bank though there wasn't much in it. Now I have tried to become more discipline by opening a savings account in a bank and buying some endowment plan from insurance companies. I'm concerned about my retirement funds.

The concept of saving was introduced while I was in primary school. I would have to remember to ask for the money to bank each week and it was not always possible to ask when the parents were seemingly constantly complaining about not having enough money. When I grew up and was out on my own I had responsibilities and there was not much left over for spending so I became used to paying bills first then putting food on the table....there was never much left for having fun or buying treats. As the years passed, I found I was always more comfortable with a little money in the bank so I would put my pay in the bank and only take out what I needed, the rest stayed in the bank. This way, I saved but there was always a bill that needed to be paid....but I always had the money put aside. Years later, I'm still the same. I have money in the bank and I live frugally for the most part. I do spend a bit more freely than I did years ago but there is never enough to be well and truly ahead. I could do better with my savings but I'm way ahead of a lot of people.

Well I haven't been saving as much as I should be saving but I am getting better at it. There have been times when my mother would need money and thanks to me having some stashed away I was able to help her. Now I am saving much after noticing that things are not as easy as before. Like I said before I'm not as good as saving but I am getting better by saving a little bit every paycheck that I get. It's more important now than ever.

I've been trying to save this past few months. I opened an account where part of my salary is automatically transferred there. That way I save something for the month. Its not really hard. All we need is discipline. =D

I taught myself to save. I come from a family where money was never an issue, so my parents didn't really see the needs to teach us that. I discovered the joys of saving later on in life (in my early 20s) and now I really think it's fun!

hi,i lik to save Howver when i try to do that i make more expenses rather to saving.Saving is a very good habit and investment is also a very good thing to be taught to ourselves as well as kids.

Well, I do not know which country you belong to, but in our country we are encouraged or can say taught to save right from childhood. All grandparents or parents first gift a piggy bank to kids and say save your money gifts in this. So the children get used to drop at least a rupee in the bank. When ever we visit our elders it is customary to gift few rupees. Few gift articles and many prefer gifting money. when ever far off relatives visit or we visit them they bless us with money. these gift rupees are generally dropped in the piggy banks and all kids are encouraged to do so. This practice leads every Indian to save right from the start. The youth of today have taken savings to the next level, they are investing their hard earned money in real estate and buy a house soon to earn rent. This way they are making their future safe. Education is getting expensive today. Parents are striving hard to get their wards into good schools. So Indians get prepared financially before entering into wedlock and children. Many plan wisely to which school to put their children even before birth!