Do you have savings?  |
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 I just read an article from a newspaper this morning regarding savings and some excuses people make for not saving. The author has a discussion with his group his article to encourage people to save early to take advantage of the power of compounding interest.
He states from his article that more than 90% of Filipinos have too little or no savings at all, and the number includes people who have the capacity to save. The inability to save can be attributed to certain obstacles. Although these obstacles are formidable, he says people should strive to overcome them and stop using those obstacles as an excuse for not saving.
Some reasons the author stated in the article includes lack of income, poor spending habits where people tend to live beyond their means, and procrastination where many put off savings for another day reasoning out that there are way too many things to enjoy right now.
For those who save, what motivates you to save?
And for those who has small or no savings at all, what's your excuse for not saving?
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1.  Shelley121 (175) | 7 months ago |  I have always tried to save however at the moment we have nothing but this is because I have just had a baby and so the money we had saved has had to go on things for the baby and also I am not working at the moment so we have no money to save.
I think it is important for people to save if they can as who knows what is just around the corner
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| 2. cream97 (6115) | 7 months ago |  If it ain't yours, don't touch it. If you messed up it, then clean it up..If it ain't broke don't fix it..
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| lamcouz (83) | 7 months ago |  Your response to this question is rather deep, which makes me hard to follow..
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 fortknox75 (503) | 7 months ago | Thanks Cream for your response. 'Don't meddle with people's lives', is that what you want to convey? I don't. I just want to share this article that I read and get views from people about it. Your opinion do count and I appreciate that. Thanks and have a great day! | |
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| 3. lamcouz (83) | 7 months ago | I am a college student now, used to save my extra money in bank. But after years of saving i realized it goes really slow, and realized if i get a job in the future the earnings from job will beat my savings now very easily. I do not negate the benefits of savings, but rather than savings, can there be some more useful ways of spending our money?? just wondering... | |
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| 4. baleleng2008 (472) | 7 months ago |  Me as much as possible I try to save some money even lil bit,but unfortunately the money that I sve I have to use this to buy new car.Im excited though bcoz after long way of saving now I get a chnace to buy my new car soon.So after I buy my new car I have to save again for emergency use.
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5.  shopgirl (2618) | 7 months ago |  My husband and I have always saved. When we got tax checks back, people have died and left us money, etc., we have saved and invested the money. We also save money out of every single paycheck, even when our kids were young we still saved money.
It was very hard but it was worth it. My husband and I are now 50 and 46 years old and we do not have a care in the world. In two years we will stop working and be able to travel around the world.
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| 6. iskayz (1875) | 7 months ago |  Hi forthknox!
I'm a very lucky person for I really know how to save money. Even when I was young, I can already buy things that I want by saving my pocket money for school. I'm not an impulsive buyer so maybe thats one reason why I am able to save. But I'm not a thrifty person either when it comes to spending money.
I guess my main reason why I save is of course for future use. Not just for myself and my family. But for everything that I might be needing or for emergency use of the money. It's also my satisfaction to be able to buy things that I want. Not thinking of the price and not having a hard time budgeting.
When it comes to money, I think like an ant. Always saving for the rainy days.
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| 7. WANDALIE44 (621) | 7 months ago |  i opened a savings account years ago and was lazy in putting money in it, thier was always an excuse, oh the kids need this, oh this bill is due. and then we had a death in the family and what happend it caught us off guard and we had to scramble to get enough money so that she could burry my aunt. that was a wake up call for me i put $20.00 dollars every time i get paid and for that one check were i have a little more i put in $40.00. i dont carry the card with me so that i dont spend any of it. i have over a $1000.00 in it but im still sticing to my savings plan cuz you never know when something might come up.
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| fortknox75 (503) | 7 months ago | hello wandalie, a lot of us even those who could afford to save money always have excuses not to save. Because sometime, we always want to buy things that we may or may not need. I guess a dollar day could still help in the long run.
Well, it's really never too late to have a change in mind. As you said, you had a wake up call regarding savings. And don't get caught off-guard once again.
Have a great day and thank you very much for sharing your experience. That will also be a wake up call for us. We learn from your experience. | |
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| 8. wahm805 (71) | 7 months ago | We have a modest savings account. Well actually we have 3. My fiance has 1, I have one and we have a joint savings. The joint savings is money for our daughter who is due at the end of the month. It's not much but we started by just placing $20 each time one of us got paid into it. It has added up somewhat. I've actually gone ahead and also opened up a WaytoSave account with my Wachovia bank that places $1 from each debit card transaction, into a high% savings account. This makes my life a little easier also, since I don't have to consciously put the money in the savings account and I think of it as not even being there. It does add up rather quickly and the high% on it is nice. I'd definately also recommend opening up a high% online savings acct (Citibank has a good one). If we are going to save in this rough economy, at least get some money back from it. | |
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| 9. ebookyoung (99) | 7 months ago | sure it is good to have savings, any man who doesn't have savings or any woman for that matter who doesn't have savings, is one who is planning to fail | |
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| 10. Carolxu (27) | 7 months ago |  I really love to save money because I can do lots of things with much more money including shopping,traveling...
But I haven't much earning from my job,so it's too difficult to save money because I have to support my house and car with the salary...:)
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| Carolxu (27) | 7 months ago | Thank you very much,my friend... | |
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