Ever since I knew what saving and investing mean and the impact it has on an individual´s future, I have always wondered why some people are still ignorant of saving. They do not seem to understand the logic behind it and many are in this category which left me asking why is it that difficult to save money. I was forced to search on Google why it is so, and I found out that it is due to being financially illiterate.
An individual doesn't have to go to school to earn a degree certificate before he can know what it means to be financially literate or knowledgeable. Not being able to manage your money means you lack the knowledge and are still ignorant of the rudiments surrounding finances. When as a person, you do not know what it means to manage your money, make a budget, or set aside some part of your income for savings, it means you are illiterate in the aspect of taking control of your life and future.
I have been opportune to have some people around me that do not save and when you ask them why they aren't saving, they start giving different excuses that are lame to me. These are people who keep coming around to borrow from you all the time and they are still not open to learning how to save. Excuses like — “expenses are too much for me to leave a portion for savings, the price of goods is going higher and by the time I buy stuff, there wouldn't be any money left for that purpose” and many excuses that leaves one wondering how on earth are they still ignorant. Only if this kind of people understand the benefits of saving, that it saves one when an emergency arrives, they would learn to buckle up and start to take responsibility for their lives now.
I was dumbfounded when my younger brother chatted with me some weeks ago that he has paid his full house rent. I asked where he got the money from. Though, one of our aunts gave him half of the money while he completed with his money. He said he used the money he had been saving to settle himself. I got excited and proud of him and that pushed me to send the money back to him so he could save it back and continue with it.
When he gained admission last year, he already has photography skills he is doing, I strictly told him the benefit of saving for emergencies and for the future. I reminded him that he has no one except God because Dad was not working anymore and mom had died. I made him know he should start saving any penny that comes into his hand because we don't know what may happen tomorrow. I am glad he heeded my advice and started saving part of his allowances and the little he gets from his skill and he was able to pay up half of a house rent that cost $70+ per year as a student.
An individual must be able to train himself when it comes to finances so that he doesn't become stranded when he needs money urgently. If one doesn't start saving and investing today, such a person will always be met with different circumstances in life and it will be the worse moment when you do not have something to save you because no one can fully rely on or depend on anyone since we believe everyone has their own responsibilities.
Not being able to manage your money will lead to disaster in the future. Being ignorant is a disease and also focusing on the immediate benefits rather than looking forward to the future will make one not understand how saving is crucial for us to be financially stable.
Thanks for your time on my blog.
