Cup of Inspiration

Today, October 31^st, is World Savings Day. Today we remember the importance of savings, even if those savings are in small amounts. Eventually, those small savings will add up.

It is very easy to spend money as it is available to us. As soon as you get that paycheck, or that bonus, or that gift money for a holiday, you may start thinking about that outfit you have had your eyes on lately. You may remember that it’s been a while since you ate at that expensive restaurant across town. Isn’t there a sale at the electronics store down the street? That extra money seems to have come in just the nick of time to enjoy a nice weekend with some treats for yourself.

There is nothing wrong with enjoying time with friends at a restaurant or buying that special outfit for an event. However, it is also important to remember that things happen in life. Jobs can be lost. Income streams can dry up. Illnesses can drain a bank account quickly. We cannot assume that funding will always be there for that next life event. Sometimes, we need to fall back on savings.

Saving a small amount from each paycheck can go a long way. By saving a certain percentage of a paycheck, that money may very well be all you have to pay the bills should a company decide to lay off your department. By setting aside a portion of that annual bonus check, that money may come in handy down the road if a sudden storm hits your home, and insurance doesn’t cover as much as you expected. By putting away a little bit of that raise to your income, that money may be just what you need to pay for any medical treatment not covered by health insurance, or to help a relative in desperate need of financial help.

The message of saving doesn’t mean it is wrong to spend a little on a meal with a friend you haven’t seen in a while. It doesn’t mean you can’t get that new outfit for the holiday party. The message of saving is simply to keep in mind that we don’t know when some life event may occur which will require more financing than our regular pay can provide. We don’t have to put away large sums of money every week, unless you truly desire it. By putting a little away on a regular basis, over the years you will find a nice amount available to go toward retirement or anything life throws at you.