𝗛𝗼𝘄 𝗧𝗼 𝗕𝗲: 𝗔 𝗯𝗲𝘁𝘁𝗲𝗿 𝗽𝗲𝗿𝘀𝗼𝗻

24|The Money Tree

I'm sure we've all heard our parents or older ones say save for the rainy day, you don't have to spend your money all at once. At some point in our lives, we must have found this little piece of advice come in very handy.

I'm not sure how you saved as a kid but when I was much younger, I had a piggy bank (actually a bear) where I would put in money given to me from birthdays or relatives. My mom would say, keep saving and who knows, one day you can buy yourself something nice. Unfortunately, that never happened during that period because someone took most of my money one day. Lol.

That's kinda sad, but it did teach me 2 lessons:
#1 Saving money
#2 Saving in the right place

Saving Money
I learnt the importance of managing my money because there will be a day when your savings would help you out and save you from stress. When you start spending money and paying bills, your savings would help prevent you from getting loans from the bank or borrowing money from people.

Create a budget. Have a list of the things you NEED to buy first before focusing on the things you WANT. For instance, it's not reasonable to buy a new phone first when you've gotta pay your rent or electricity bills. It's also not important to spend the rest of your money at once after paying for the necessary things. If you want a new pair of shoes, start saving towards it. Every month, save something out of the money left till you can. It's much more reasonable because you're not only saving for your shoes, you're also saving for the future.

Then once in a while you can spoil yourself if you have adequate resources coz who doesn't like a treat.

Saving in the right place
You can't save your money under your pillow or in a shoebox because it doesn't add value to your money and it's a risk coz it could get stolen leaving you with nothing in the end like in my case.

You can save a part of your money with you in a safe or where only you knows about coz money is precious.

Save most of your money in a bank or in investments banks because it keeps your money secure and adds value to it with interest rates depending on the amount. Saving 500 units gives more interests than saving 300 units. It's also a good idea to save your money in a place further from you because it reduces the chances of you being wasteful especially if you're not so good at managing your resources.

Saving is like planting a tree. It starts off very little (in most cases) and becomes something much more with consistent savings. So every time you get your allowance or get paid, think about the rainy day.