Sunshine or rain, you need a covering or shade to protect you from the burning sun or the heavy rain. The saying was you “save for a rainy day”, set aside money for unforeseen future challenges.
However, savings has evolved; people now save for foreseen and unforeseen future financial obligations.
A savings culture requires financial discipline (the ability to manage your expenses).
Where to start:
a. Little Drops of Water …: If you don’t have a savings culture, you can develop one. Start by setting aside a little money
(monthly) for a specific future project or for a “rainy day”. As
you see the benefit of savings, you will be encouraged and begin saving more.
b. Have a Goal: The money must have a defined purpose, like
rent, that new car , wedding, education fund or just plain
emergency fund. When you have a defined purpose, it is easier to be consistent and also overcome the temptation to dip into your savings.
c. Shop Around: To attract savings, most commercial banks now have different products with varied interest rates
(Higher than regular savings accounts). Take your time to shop around, understand what rates and terms different banks are offering. Only then can you make an informed decision.
d. Once You Start: Plan your spending each month and try not to exceed your budget. Resist unnecessary or unplanned purchases. Ask yourself, “do I really need this”; ladies, stick to the shopping list.
e. Pass it on! When you teach your children how to save, you pass on a very valuable tool. The best way to learn is by practising.
There are non-essential items which children ask for, try encouraging them to save up their allowance to buy such items.
- Saving aids planning for the future;
- Minimises how often you turn to others for financial assistance;
- If done well, it’s a form of wealth creation; and
- Knowing that you have savings can also create a sense of security .
- “Tomorrow never comes”; don’t wait for later , start saving today for sunshine and rain!!
Jesus Loves You
Thank You Jesus.
Father! In The Mighty Name Of Jesus Christ Your Son! We Cover Your Son Pastor E A Adeboye With The Precious Blood Of Jesus! He Shall Finish Strong, To Your Glory Through Christ Jesus Our Lord And Saviour! Amen!
May God Bless Israel, Nigeria, And America And Take Care Of Us; May God Make His Face Shine Upon Us, And Be Gracious To Us; May The Lord Lift Up His Countenance Upon Us, And Give Us Peace, In Jesus Christ Name, We Pray! Amen!
May The Grace The Lord Jesus Christ, And The Love Of God, And The Fellowship Of The Holy Spirit Be With You All. Amen!
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