DON’T SAVE, SPEND, AND GO BROKE

Written by Tim Merciful

On September 28, 2021
Save, then spend

There is always this excitement that comes with receiving a reward. Call it salary or a gift, it always brings about a blush. But how long this blush will last is determined by how the receiver manages and spends the reward.

We often say “Money is meant to be spent” but the important question to be answered after listening to this is ‘how do you spend your money. Do you spend after saving or do you save after spending? Do you even save?

A little story

Derick loves chocolate. Anything he finds that has a touch of chocolate, he immediately grabs it and satisfies his chocolate desire. Whenever Derick eats chocolate, he does not feel like eating anything else, because he really eats up a good chunk of it. Derick leaves work one sunny afternoon very hungry and thirsty. He is very aware that if he eats chocolate first, he won’t be able to eat any other good nutritious food. So he intentionally decides to bypass the supermarket where he gets his favorite chocolate from, without giving in to his urges. He finally settles down, gets a good meal, then gets a chocolate pack just for keeps on his way back. In order to serve the body, Derick first gave his body what it needed before giving it what it wanted, not necessarily because chocolate is harmful to the body, but because good food will bring, more benefits than chocolate.

Just like Derick, when it comes to finances, you have to do what needs to be done first before you do what you want to do. This is because you will always have limitless wants, but like Derick’s chocolate, these wants won’t take you on a good financial journey, but a full course meal which is a need keeps you healthy and will still have some space for some chocolate in the future.

“Do not save what is left after spending, but spend what is left after saving.”Warren Buffet

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Edwin Gah
Edwin Gah
1 year ago

Saving first before any other thing

Ngam Voilet Mbeh
Ngam Voilet Mbeh
1 year ago

It’s wise saving at least a percentage of ur salary

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