asked in Business+Finance by VISIONARY (9,008 points) 7 17 70

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answered by ELITE (3,084 points) 3 6 14
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If I'm not mistaken I started saving when I was in primary school. In those days; my parent usually give each of us pocket money in addition to food and water. This were the usual habit of parents in those days irder for children not to cultivate the habit of begging from ccolleagues in schools. Do my dad use to give me #3 while mom oftenly add #2 to sum it all to #5 daily in exception of Saturdays and Sunday. At first, we started doing daily contributions of #2 in each school day and give it to one member at the end of the week. It all continued until when one of the member ate the whole money in primary 3 and changed school.
Then, I developed another means to save my money, I went to the market and got my self local bank at the rate if #50. When I got home, I hide it inside my cloth box and started making my contributions iinside it every time money enters into my hand. This process was what I continued with till I got out of college when I had to open my first bank account ever.
replied by VISIONARY (9,008 points) 7 17 70
That's was a nice idea instead of giving the money to someone I rather store in my piggy box. Saving some money has always been helpful
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answered by Patron (1,551 points) 2 9 24
As a kid,I never lacked anything. I never saw the need to save but as time goes on,I saw the need to save.

One needs a back up plan so that you can have something to fall back on when you are broke.

If you recently started working and you have a lot of bills to pay like rent,light ,internet and so on,its easy to push saving to the bottom of the list.

If you don't want to rely on your parents for everything, then you need to start buildings a saving nest egg.This can help you pay off your debt and get on the property ladder.

At some point in your life,you will face a hefty bill whether to repair a car or to repair a laptop.Your savings can help you cover this costs.

Unemployment is something we don't plan for.You may suddenly find yourself unemployed. Your savings buffer can help you pull through during this trying times.

Getting married or having kids may be last on your list but at a point in time,some big life events sneak up on us and having some savings will help us during this times.
replied by VISIONARY (9,008 points) 7 17 70
Yea,this is the whole essence of saving,it will come in handy when an issue like job loss come along. Job loss can be devastating if one never had some cash stored away. 
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answered by LEGEND (6,011 points) 6 13 26
The way I see saving is, saving for a purpose. So other than getting the necessary things I need to survive everyday, I make a list and a plan for the things that I need which I can't yet afford. Then I make an effort to save up for those things. One after the other, I get them.

The sequence repeats itself until I get the last thing and my list begins again. It never ends because I'm only human and everyday I grow in health, knowledge and wealth.
If in the process of saving up for one thing or the other and I get an emergency, I use the money at hand and my problem is solved. I can always start saving again and again. I don't really believe in keeping money with cause. It makes more sense to me if it is for a purpose.
replied by VISIONARY (9,008 points) 7 17 70
Alright each to his or her whatever works for anyone is good by me but it's still good to save for the rainy day
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answered by ELITE (3,008 points) 4 13 28
Up till this moment, savings is one of the things that I have found pretty difficult to be doing and that is the honest truth. I have been at that point where I will make moves to save and when it was not working, I will definitely look at ways that I can get to keep pushing for the better life that I enjoy with my money. However, the experiences that I had for the past few months is one that is making me to have a deep thought on this issue of saving.

I believe that no matter the age that we are, there is need to keep saving and this is something that we should be seriously thinking about. Having some funds that we can fall back on during the rainy is something that we shouldn't joke it. While we may make some sacrifices on this, I see savings as one that will bring better fortunes to us in the future.
replied by VISIONARY (9,008 points) 7 17 70
Definitely, nobody needs to joke with savings. It like a live saver to us and it can only make have confidence that we can weathered the financial storm when it comes calling. 

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