Auntie’s Adages : This is a new type of quick post with wisdom presented in the form of an adage. If you enjoy this post please comment and let me know.
Adage: “A proverb or short statement expressing a general truth.” (as per Oxford Dictionary)
Many of these statements are old but still apply today.
“A penny saved is a penny earned.”
Meaning: It is important to save money for the future.
THINK ABOUT THIS:
You go to a store. The new lower price is now 25% off!!
Whoop Whoop–save 25%. But do you REALLY save anything?
Here’s the truth: the item cost you $75 instead of $100 but UNLESS you take that $25 you “saved” and put it away into a savings account, all you did was spend $75 and save nothing.
Go back and read the last sentence. Does it make sense to you?
You must actually separate your savings from your income and cash stash availability because otherwise you’ll save nothing.
If you want to save then start now. Open up a separate account and deposit $5 per week. That’s the price of a latte.
In one year you have $260. In five years you’ll have $1300.
And that’s only $5/ week.
Hey, that time is going to pass whether you put some money away or not. Why not do this minimum and you’ll be ahead of the game because….
…a penny saved is a penny earned.
If it’s $20/week —> $1040 in one year—> $5,200 in five.
…and so on. If you begin when you’re 18, by the time you’re 30 you could have the down payment for a house…all for $20/week.
I know you can do it. Any Questions? Get saving.