THE LABOR OF THE WISE
People occasionally suffer from regrets, but recent studies have shown that one of the major regrets of most people is financial regret. And among the top financial regrets, saving little or nothing at all for retirement or old age is the greatest. Apart from saving for retirement or old age, many people still don’t have plans to put money aside for emergencies such as the times of retrenchment, unexpected big expenses in the family and so on.
Insufficient resources, lack of retirement plan in the work place are not cogent reasons for not saving. Many people don’t “save” not because they are too poor to set money aside, but because they prioritize their current desires above their long term-goals without giving any thought to the simple fact that the rainy day is just around the corner.
Saving, whether for retirement or for the rainy day, is one of the preoccupations of the wise!
It takes wisdom to save a portion of your monthly income to take care of urgent expenses or for some investment, retirement or old age. The act of saving nurtures great virtues like self-discipline, foresight, and a sense of order. Saving is practical and also biblical. Do you remember Pharaoh’s dream about famine?
The Egyptians, having been advised by Joseph, meticulously saved up corn for seven good years such that they didn’t feel the pinch of the famine when it came. Also, you can learn a great lesson from the ant. What it does all summer is to store up food for the rainy days. So basically, the Bible teaches that the act of saving is a wise and profitable practice. “There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up” (Proverbs 21: 20). So, don’t just labour; be wise to save a part of your income.
Now, you can achieve this by creating multiple savings goals, such as emergency savings, housing expenses, personal expenses, retirement, and so on. This will save you from unnecessary lack, debts, embarrassment, and slavery. In order to get an enjoyable retirement lifestyle that you’re looking for, you can create realistic saving strategies such as operation “pay yourself first”. This implies that you pay your savings and investment first. Also, read up on the best retirement investment plans, study them, and learn how they can be used to generate income for you. More so, start a savings account with interest.
Apart from these, it’s very important you develop some attitudes that will make it easy for you to nurture the habit of saving. Be self-controlled, buy only what you need and what is important; track your expenses budget, and don’t exceed the amount allocated for it; don’t take up financial obligation you can’t keep; keep out of debt; demonstrate sound financial principle and be open to discussions on financial decisions. This way, you’ll know how to handle money.
The wisest thing to do is to plan for tomorrow. So, if you have not started saving, Start now!
All images credited to google search
You are very correct
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