Saving Money How has saving money helped you?

[Ayuba Ernest]

During my high school days, I opted in for saving some small amount of money for futuristic purpose and that has really helped me allot and improved my saving capabilities. I continued this and found it very helpful most especially when I needed to do something urget.share your experience on how saving has helped and improve your life and like to relate this with others on this forum and most likely your means of saving can also be helpful

 

[Rachael]

Saving money has been a great anchor for me in times of distress. Whenever I need money urgently to solve a pressing need and I take it from my savings account, I realize the essence of saving money. Saving money is very important in any individual's life and should be encouraged and inculcated. Saving money is more like a life-saver to me. The essence and reality of saving money reduces the rate in which we borrow money from our acquaintances or from any financial institution.

 

[Alexandoy]

I learned the habit of saving when I was in grade school. When I entered high school that was the time that I opened my first bank account. It's just sad that Banco Filipino was a very friendly bank that closed many years ago. Anyway, that bank account gave me the inspiration that I can save more money and earn interest as well. However, whenever I would have a bigger sum in my bank account an expense would come that I would have to withdraw. But saving money is already in my veins. Until now I have been saving money in any place that I see fit. In my computer table I have several small boxes and bins that I can save coins and even peso bills. This is not to brag but almost any area in our house has a piggy bank of varied shape and size. That's how concerned we are with the habit of saving.

 

[Kendy]

Saving money has helped me in so many ways in which I cannot even recount. I started the habit of saving before I even gained admission in the University. I realized the importance of knowing the difference between my needs and my wants as I had many academic needs and my savings helped me to clear a lot of debts. There are different ways in which I adopted while in school to save and the first was to join a group where we continue the same sum on either a weekly or monthly basis and at the end of each month, one person will take the total sum, this was achieved through a ballot paper method to ensure transparency.

The act of saving is achievable especially if you have a plan or goal you want to achieve. During those days, I also save with my bank account but this was not easy because I still had enough access to the money in my account through the mobile app and my card. Presently, I still devise a means of saving with my financial institution but this time I refused to register on the mobile app and I do not have a card with the bank account. My savings would help me to learn a trade.

 

[eldavis]

Though I agree with you that saving becomes a lot more easier when you have a set plan or a goal but there are still cases where this might not be enough to motivate you. When it comes to saving, what makes saving successful is self discipline. If you are not able to discipline yourself, you would end up spending more than you are earning.

 

[Abigael]

Saving has been really great for me. I started saving immediately I finished campus and it has been such a great thing for my financial life. It has helped me pay off all the debts that I had. This is because I cut some of my expenses and chose to save. Eventually, I was able to finish off all the loans.

Saving has now kept me out of taking loans because I spend my money more wisely now. I only spend a little then save the rest. The money that I save can help me when I have any emergencies in future. That way, I don't borrow but use my savings.

Saving can also help you when you want to start a business. Instead of taking a loan from banks or loan lending institutions that offer high interests, you just startup with your savings. You can concentrate on sketching a business plan while you save until you have enough to start.

 

[Kingsley]

Having a good saving culture goes a very long way in helping us to keep safe on the rainy day. As we all know we keep money basically for 3 major reasons and these reasons include for transactionary purpose, speculative purposes and precautionary purposes aswel. Some thinks that money is only meant for transactionary purpose hence when ever they have any cash they think all they need to do is spend it all. So when they are making their budget they always prepare a budget that will cover all the cash they have with themselves. Some even go as far as making a budget that goes beyond the cash they have and this is where the problem lies, because at this point they will never be able to have anything to save for the rainy day rather they will always fall back to debts to survive. I remember when I completed my secondary school education, I quickly enrolled for a computer training programme and was trained on two basic areas, which was computer science and computer engineering. And I made alot of money from this two fields and I was able to have enough savings before gaining admission into the higher institution and I didn't have any financial stress while I was in school.