Tuesday, 20 January 2015

Savings And Its Underestimated Importance

#Inspiration


Savings really has been underestimated so much. 
Many atimes, we find ourselves buying things without necessarily needing most of them. 
Many atimes, we try to prove to people that we can afford or own certain things when they really do not care if you have those things or if we could afford it/them. 
Many atimes, we try to over indulge in the luxuries of life without having to sit back and think of its aftermath or the consequences that comes with it.
Many atimes, before our pay cheques arrives, we have already budgeted for the things we will do with it. And most times, what we do not need always tops the list. 

The truth is, life is beautiful, which we very much discussed here >>>  However, no matter how gorgeous or beautiful what we want to buy or have is, there will always be something more gorgeous and beautiful than it. The funny thing is, innovation is constantly on the rise. So, the thing we thought was beautiful today, we will definitely see something way more beautiful than it tomorrow.

This is just to say that, what we want, will always be there tomorrow but what we need won't. That is why, before we get want we want, something must always come first... and that is savings. 
Yes, you need to enjoy life. Yes, you need to have fun. Yes, you need to spoil yourself after working hard. But the important thing in it all is that, you need to save for the unexpected. You need to save for the rainy day. 

If you spend all that you have today on something you do not need, what will happen tomorrow when you really need something but do not have the means to take care of it or get it?
For example, you decide to throw a party. You borrow from the bank. You also went ahead to empty your bank account and maybe empty your bag of rice (or food) at home. Now everyone became merry and afterwards graciously thanked you for been a great host. After a great party, they all retired to their various homes. 
Now you are left with an empty bank account, a debt to pay and no food to eat. Now what will you do? How will you fend for your needs? The next available option is to borrow from people right? 
The irony of it all is that, those you are borrowing from, if they haven't saved or if they weren't mindful of their spending, would you have seen what to borrow?

So we can all see the great importance of savings?
Savings comes in different forms but the basics are:
- Saving and,
- Investing/investment. 

1) Saving basically means economising for what is really important. 


It is budgeting sort of. Cos, you get to prioritise. You budget for what you want, what  you need like saving up for college, for bills, to pay up your mortgage or to buy a house, to go on holiday etc. And you discipline yourself towards it. Like, when finish up your saving funds for your wants, you get to save up for another rather than start taking from your needs fund. 

2) Investing/ Investment


This in a lame man's language basically means suffer today and enjoy tomorrow. Invest rather than spend and yield great results tomorrow. 

I end with this, please do not be among the people, Will Smith talked about in the picture below

Save today and smile tomorrow. 

Above all, you really don't have to buy everything or own everything, you just have to learn to be contended with what you have. 

Be Inspired.

I hope you were inspired by this post? Please kindly share with others by clicking on any of the social media share buttons by the left side of this post to inspire them too.

P.S- You might also be interested in:

Yours Truly,
Chidinma

Photo Credit-
hudsonvalleynewsnetwork.com



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