One of the pillar topics on this site is saving. Saving money is a very important part of our financial life and the reasons for which we save can be for a raft of reasons that include (but are not limited to) retirement, holidays, in case of emergencies, big ticket investment purchases such as property and so on and so forth.
We will all have different reasons for what we are saving for but for some this doesn’t hold true as they are stuck in the ‘I would like to save for A,B,C’ phase of saying and not doing. Some savings goals may seem far fetched and the thought of reaching them can stop you from starting to save towards those goals. But, you don’t have to start big, you can start small (a few dollars a day/week) and build on that with the progression of time.
I was recently read a Facebook update by Strive Masiyiwa, who if you don’t already know who he is, is a very successful Zimbabwean entrepreneur. The update (below) which itself is part of a ‘Making Sound Financial Decisions’ series inspired me to revisit my saving habits and see how I could up the ante.
What he had to say did a couple of things, it made me think about how long we as a family would survive if for some reason, God forbid, we found ourselves jobless? It also made me look at areas where we are spending money that we don’t really need to be spending.
This is still an on going process but what I or should I say we as a family have come up with so far will in the long run eventually lead to savings that are creeping well into the $1000 – $2000 mark.
Some of the tweaks we have made will be shared in the weeks to come but for now, tell us by leaving a comment below on changes, big or small that you have made that have seen you being able to save more money.
At the end of the day, it’s all about holding on to your money!