Today is World Savings Day. The day is dedicated to raising awareness and encouraging people to save money as a means of improving their financial well being. Saving money is so cliche and many people ignore it, however, it is a critical step on the journey to financial independence.
When you save money you acknowledge that a future exists. This is not obvious for many living creatures. Recognizing that a future exits means that you realize that there is a future you in this future. This is psychologically significant. You are not just the person you see in the mirror. In fact, you are a multitude of personalities existing through space and time. This means you need to act in a way today which doesn’t just please your current self; but also a future you, 5, 10, 20 years down the road. You owe it to yourself to act in a way which is agreeable to a community of you made up of your multiple personalities across time.
Saving and investing money is an act of creation. When you save money you are actively participating in the creation of your future. You are no longer a victim of circumstance. You believe that you can mold your environment. This belief in your own agency to create your future is a precursor to success in many areas in life. This principle is not obvious to many people and many people go through life believing they are mere victims of circumstance.
Saving is an act of faith. Yes pray to your God and then proceed to plant your seed of prosperity by saving. There is no lasting wealth without frugality. Great riches quickly dwindle away in the hands of careless people.
Save a portion of everything you earn and place it in a safe place where it can multiply and work hard of you. Money is a good servant when it bids your wishes. However, without it, it is a terrible master.
Without saving money we shall working harder and harder. Saving cash is a way to ease our burdens when the spring of youth eventually evades us.
Spending less than we earn is a demonstration that money doesn’t control our lives. If I can live on less than I earn it gives me freedom to pursue other interests and passions or their own sake.
Automate the saving decision to reduce the friction to save. Use a budget to plan for your income and expenses. Save with an end in mind. It is easier to save when you are working towards a specific goal.
Saving money is a way of delaying gratification because endless pursuit of pleasure can quickly drain our meager resources. Training ourselves to manage our craving to spend and please ourselves is a powerful trait which can lead to long term financial freedom.
Saving money creates a lot of peace of mind. It is very comforting to know that you have some resources set aside in case of an emergency or financial need.
I hope you are able to start saving some cash as soon as you can!
Happy World Savings Day.