At What Age Did You Embrace The Importance Of Saving?

[Rachael]

The act of saving money to me is one of the objectives I strive to attain in my own little capacity at the moment. Being able to save money even on a monthly basis is not easy considering the fact that the economy is unstable and inflation has really hit the rocks while incentives are still static, the prices of nearly all commodities has either doubled the initial price or has tripled abruptly. People have different methods of saving money, some engage in: daily, weekly or monthly savings, while some deposit it in their various banks, others take the alternative of forming a group to contribute while others devise to saving it in their piggy box or banks. I realized the importance of saving money during the covid-19 pandemic because it really affected me adversely and it was a reality which taught me the essence of intentional savings, no matter how little. Share your experiences, at what age or point did you realize the essence of saving?

 

[Sotherefore]

Base on my understanding I don't think there is any specific age a person should consider saving , generally we are advised to start saving as soon as we start working or we should start planning to save when we have one employment all the other that is generating us some income.

People who are still in their high school may not have the opportunity to save money because they are not working and they do not really have anything they are to depend on that could generate them some income and as a result there is no need for the students to consider saving during that period of time until they are able to graduate from the University, finds employment and then star saving.

It is not really something we have to learn and understand it because normally saving comes automatically when a person is capable of generating some income in one way or the other either with a business or an employment.

There are many reasons why we are to save and those people who really understand these will always try to save as much as they can because saving is the most important priority in a life of a successful people

 

[Kendy]

Cultivating the habit of savings is very important and even little children these days are fast or quick in understanding the essence of savings. Through the social media, I have watched a lot of videos on how teenagers saved even the little gotten from their parents as pocket money and this invariably mean that if children could recognize the need to save money, then we adults should strive to save as well ko matter the loads of responsibilities no matter how small. Albeit, there is no stipulated age when it comes to savings, the most important thing is to be committed when you decide it is time to start the journey of saving money. There are still some high school students that can save money notwithstanding that they have no jobs but with their allowances they devise means of savings.


Personally, I started the act of savings when I was 19 and although I used the money at different occasions, it was very helpful to me, this is because if I did not have the money, I would not be able to solve the pressing needs. There are different methods of savings that can be adopted based on your preference or discipline level such as; banks, piggy banks and through contributory savings.

 

[TOZZIBLINKZ]

Money is a very important asset to mankind and must be spent properly , sensibly , and wisefully etc . That is why we have been taught the importance of saving money right from when we were little . Personally , when I was a little child I always wonder where my parents get money from whenever there is need of it , but while growing up I came to understand how money is important and because of its importance the act of saving money is used to secure the future importance of money .

I can't exactly point out when I embrace the art of saving but I'm very sure that during my secondary school days from js1 to ss3 I have been saving a little money given to me by my parents to buy snacks and food during break time in school . but what are they using this morning to buy food and snacks I save them to buy more important things and school-related stuff . In fact my first smart phone was bought by me , this was made possible as a result of my savings . Finally I would say that it is important that everyone learn the act of saving at a very young age .

 

[Caramelle]

I've learned the importance of saving from my parents at an early age. Back then, almost all of our cash gifts were deposited into our joint accounts with our parents. It felt good to see the deposits accumulate on our passbook. Our accounts were with a savings and loan association that provides higher interest rates than regular savings accounts. During school vacations, we were given housework with corresponding wages as a way to train us for the work world. It also introduced us to personal finance management. Our paydays as house workers were on a semi-monthly basis. The basis for our salary is a list of chores with fees. My siblings and I would race for the chores that pay the highest such as washing the family car. I realized that it also taught us to work hard for things that we want in life and to be proud of work no matter how lowly it may seem. We saved a portion of our wages in a piggy bank and spent the rest on toys and food. Those childhood experiences shaped my attitudes towards work and savings. It also taught me the value of balancing the need to save money with the desire to enjoy life.

​

 

[Skysaint]

That was when I was still a kid during my primary school days. I was the type that squander anything that comes my way and most times I do finish my lunch food even before the break time and I will use the little money given to me by my parents to take care of myself further during the break period but as time when on, I started listening to my classmates bragging of how they have some money and they plan on building a house with it. It is funny when I remembered the level of our thinking but that made me see the importance of saving. I went to different people houses and I met my friends owning a saving box and little change stuffed into it.
That motivated me to start saving up my own money and soon it was like a competition in our class, who has the highest balance. I really thank heavens for that stage in my life because that is what thought me not to spend everything I see that minute. And I guess, I knew of its importance later on when I had graduated and this attribute has led me even till date.
Anyone who finds it difficult to save in life will encounter a lot of problems in the long run.

 

[moonchild]

I began saving money in a piggy bank when I was a kid, this was done whenever I have something I want to buy, like clothes, football boots or just about anything.

I save from the little I collect from my school stipends, but when I became a teenager, my needs and wants became impulsive and I couldn't wait for my piggybank and that was the end of it, I discarded the piggybank idea.

Saving I think it's a controversial topic to talk about in the financial ecosystem, a lot of personal finance experts, suggests that, saving is basically a bad idea for those looking at building wealth, they said what is important is maintaining a positive cashflow and saving whatever is left to a business.

I kind of agree with that because if you look at the biggest companies around the world you will notice that they have a large amount of debt and they are accumulating everyday and their valuation keeps on getting higher every single year example of such companies are Tesla and Apple.

While saving might be the best thing to do to achieve a short term goal as I was doing with my piggybank back then, looking at the big picture it isn't very promising.

 

[eldavis]

I actually started saving at a very young age, back then I brought my first phone by saving for months. I bought my second and third phone by saving as well. Whenever I needed something I start saving for it. I also plan to teach my children how to save at a young age as well. Though there are some persons who might say investing is way better than savings but the truth of the matter is that savings is still needed even when you invest.

 

[Kinjons]

Well at the young age I was I didn't really know that it was an important in singing of money

 

[Bookwormlux]

I started saving money when I was about 16 years old , and at that time I was always thinking about how to get myself a brand new phone that serve as a major motivation for me to be able to work towards my goal.

The experience also taught me that it is very important to have a goal in mind whenever you are thinking about saving money .

It is easier to achieve you saving school whenever you have a project in mind to execute because this is the only thing that would enable you to continuously post even went difficulties presented in feel like giving up .

A lot of people usually do not know how to help motivate themselves to continue their saving journey , and this is usually due to the fact that they do not have anything that is serving as a motivation which will enable them to stay focused .

If I am to teach anybody about the principles of savings , I will best tell him to have something in mind that they are thinking about executing with the money that they are saving .

When you have such mentality it will very easy for you to finish up your project in time .

 

[Heartstrings]

I started saving when I was very young,by then I didn't know there are much benefits on it because I was too little to understand what I was doing,but then I just wanted to save,like keep money aside for my need later on. I guess Is just part of me right from childhood,and the funniest part is,I always have one or two things in mind to do with the money,even though at the end of the day I will end up using it for something else or given it out to one of my siblings.

I remembered whenever any of my uncles or aunties visited and they gave me Money,I always do put it aside,like hiding it inside my clothes box, saving it. Most of the times I don't tell my parents about it why because I was saving to get myself something,even when I knew my parents would definitely question me where I got the money to buy such thing.

 

[Carpon]

All my life I have been conscious of the importance of saving and it is not like I grew up around parents and family who save. Infact, my dad is a bad spender and he almost runs out of funds at the middle of the month when he gets paid at the end of the preceding month. He rarely saves infact, he doesn't save.

But Personally, I have always been a good saver. Even when I was a small boy, we use to have a lemon tree in our house and we do sell it and get some money. So I will always keep the money even though I wish to spend it on the same things my peers do.

Since that tender age, I have been conscious of saving and saving is now very simple for me. I learnt saving since I was a kid. The impact of that is still felt now that am already an adult.

 

[Rubz]

I can't remember the age i started saving money per say, but i know i started making money at a very young age. My parents made my siblings and i to see the importance of saving from when we were still very tender. I remember my mum buying piggy banks for us and also saving boxes so we could save up for a particular thing. We were always so happy when our piggy banks or saving boxes were opened and we realized that we saved more than enough for what we wanted to purchase. I feel it's a very good thing for the habit of saving to be incorporated into children at a very tebder age because it will stick to them wgen they grow up. The habit of saving can also be learnt as an adult. It must not always be learnt when one is young.