Savings are the conservation of money, to save and conserve for a clause, example for a rainy rain.

Saving is a good habit but not necessarily a positive habit. Starting as young as kids, parents were taught to pass and impart the knowledge and importance of savings to their kids but not investment. Thus everyone across the globe knows the importance of savings but not investment.

The poor will impart the good habit of savings for a rainy day idea to their kids and they will save every single penny in their whole life without any changes to the knowledge that was imparted to the kids.

The wealthy will impart investment habit to their kids in different learning examples, coming up with games, learning lessons to increase their knowledge of doubling their start up capital to generate more income.

If there’s no external new knowledge being passed to the kids who are growing up in a savings mindset family, the future of the kids’ family will suffer, more unhappiness will follow, something which I realized long ago but it only stuck and was imprinted in my mind only today thus this blog entry.

As a kid, it’s good to save, so when they grow up, they have a starting pool of piggy bank to for investment into a business, but parents often just stop their financial education to their kids once they see that their kids are doing well, stopping halfway, without telling them the core idea and importance of savings.

Savings from young is to start accumulating a bucket of gold, than when the time is ripe, with sufficient funds, than their first bucket of gold should be used for investment purpose and must learn the steps to investment.

Parents failed to impart the knowledge of investment to their child solely because they neither lack the knowledge nor know-how to go about investment, thus in the adulthood stage, when poor mindset people start working, the problem of having a mindset savings snowballs into a bigger problem, creating lots of unhappiness and life living in misery.

Young kids can save, as they have not much items or gadgets which they need to buy, if proper discipline is being used and proper knowledge of financial management has being passed down to their kids.

Saving money as a teenager than starts to become a problem, with lots of temptations, peer pressure, and the fear of being bullied, left out/behind in a fashion savvy or technology updated group of peers. Teenagers will than experience more difficultly in saving any money.

Adulthood and beyond are the worse section and experience which a person will experience if he/she were to continue saving money and not learning the how-to to invest. Having seen different parents, family members, relatives (even those who are living a landed property) are saving as much as possible, making them look more like a cheapskate and not a thrifty person.

Cheapskate is one who will collect, take back small little free items from restaurants, hotels, air-planes when they either dine out if not are on a holiday vacation. Not willing to part with small money will not lead to big money which is needed in investment. The worse and unhealthy example of being a cheapskate is to wash those microwavable Tupperware after use to repeat use them. I’m concern about using them over again since it’s plastic and it chemicals will more or less leave some scent and taste with the food, plus health reasons.

Adults who are near if not already classified in the seniors age above fifty years old have even worse saving habits which are the cause of family unhappiness too, picking up redundant habits which only make matters worse than better thus elder folks are either unable to live happily with their children and grandchildren.

When grandparents’ saving ideology worsen and degrades into scrimping and squeezing every single possible cent out from any offer etc, now that is a saving behavior and mindset gone completely wrong and children can’t accept nor understand the changes thus they just move out.

Ugly saving ideas and behaviors such as plastic bags, starting form the aunties group all the way to grandmothers, whatever they do, wet market, super market, dinning in or out, plastic bags are the sure take item and they take lots of it. Taking back empty boxes, paper cardboards, newspapers etc, all back home to safe-keep in case there’s a need one day for the box which still can be used to store things.

When they pick up the items, to them it’s saving money, but without proper arrangement, it transform into a house full of junk items and the grandparents or aunties are super reluctant to throw away the items which are junk in our eyes. Those items can be recycled in recycling centers and even for profit but elders are ignorant, they don’t know, so to help get rid of their ‘junk’, we need to sort and tidy it, than sell it away, money pass to them so they will keep quiet.

Next time if somebody teaches you to save money, look and observe what saving practice do they use themselves?  If it is savings to scrimping, don’t even follow. If it is savings to investment than you stick to that person and learn it well.

Popularity: 1% [?]