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A common sense approach.
Savings is actually easy. What can be so hard with keeping a portion of anything you earn from working and then use the rest to cover your needs? Indeed, stated that way, saving is easy. But it’s also easier said than done.
Without the right conditions, the right attitude, and the right outlook, saving can be most frustrating exercise in your economic lifetime. If for some reason you cannot keep money no matter how many times you attempted to set aside a few bucks for the future, it is because something is missing with the tree common sense of saving I mentioned
earlier.
Right conditions. How can you save when you have nothing to save? For example you are earning 10 dollars and the scientifically obtained average cost of living per day is 12. Do you honestly believe you can save the 2 just because statistics say you are earning more than it costs to live per day. What if you’re a father to even just one child? What happens to the equation?
Without the right conditions, saving is impossible. Right conditions means you have to be paid for your work in such a way that is reflective of your actual needs as a worker and not always in deference to the employer’s capacity to pay. That means enough income and not necessarily huge income, though that would be better.
Right condition should also mean an economic reality wherein what you earn would not always be chasing what you dream of becoming. The condition wherein what you like to do, that is your job and its resultant lifestyle, cannot be sustained by what you earn because the free market system that is in place seems to forget the consumer when they coined the word free in free market. That’s wrong condition. Those in authority should do something about it.
Right attitude. We can’t all be blaming external factors if we can’t save. None of them can save for us, not even the banks. It us who shall decide we must save. Your behavior after you make that decision shall determine your success at saving. Right attitude then means economic self-discipline. You take responsibility of your economics. Not having the right conditions should not stop you from having the right attitude. Nor is it a valid excuse. You live saving what there is you can, or die trying.
Right outlook. This is the part that should sustain you. Without a sense of purpose or a goal to achieve or a legacy to reach, you won’t go the distance. Right outlook means faith. You have to have faith in what you can achieve and that possibilities are always there. Why? Because the alternative to that is poverty, or worse, being broke. Take your pick.
The common sense of saving is that you kick the butt of what is common as start making economic sense. Learn more about savings in Savings Accounts.
