The Philosophy of Saving

We live in a world where technology and culture allow, even demand instant gratification. We are a "now" society. If I can't remember who sings the song I just heard, I can google the title or a bit of the lyrics and I will be able to not only see who sings it, but often hear the song, and then buy it within seconds. And, as if credit cards weren't already a problem, soon everyone will be able to accept credit card payments with their smartphones. So, how can we possibly wait for anything in this world where everything is available to us now? Why should we?

Research has shown that the ability to delay gratification can lead to overall higher level success in school, careers, and relationships. This ability is also essential for anyone who hopes to save money, because if I buy every song I hear or search for, I will never make more money than I spend, so I will never save.

If you don't save, you have no cushion in case of an emergency, be it a medical emergency, a natural disaster, or an economic downturn. Those who don't save pass the burden of these emergencies on to their families and the government. Eventually, someone has to pay, and as Greece is showing us, governments can't pay for everything. It is irresponsible to always think that someone else should pay for us or bail us out when things go bad. If we have savings, we will be prepared when crises like that are upon us.

Saving money is more than an act; it's an attitude. You don't buy everything you want just because you want it, not even if you have the money. It's also not good to be a miser, but most people don't have that problem these days.

But even people who have the right attitude can have trouble saving. Money doesn't take care of itself. You have to take interest. If you don't watch yourself, you can very easily spend more money eating out than you do on your rent/mortgage. Saving money is difficult, and take practice. So don't fret if it doesn't come quickly or naturally, but keep at it, because there are few things as rewarding as providing for yourself, and having a safety cushion in case of emergencies. 


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