Capsaicin is right on target! What a brilliant young person to realize and
actually act on such a necessary virtue! Too many people live only for today
and find out that tomorrow is not what they had intended! If people would just
set aside a designated amount each month and promise to never touch it until
there is an emergency, and then to replace as soon as possible, we would all be
I have a year (or more) saved up. Please tell me why people do not? Because they
are more interested in the latest and greatest and in having everything than
staying home and making do with what they already have. I have family who went
from boom to bust in just a couple years. Did they ever have savings comparable
to their income? Nope. They blew it all. Now that they are making 1/3 of what
they used to, it's hard to have sympathy. Plan for the future. Don't
just think about it. Plan for it. Because there are always ups and there are
always downs...unless you're the 1% with more spendin money than you could
spend in a lifetime.
Wonderful article! It's true that Americans have not been good savers for
many decades. Our sluggish economy and increasing costs for maintaining a home
have made saving a last priority. I appreciate your excellent suggestion to
"pay yourself first through direct deposit." People should have money
taken directly from their paycheck and put into a savings account specifically
for an emergency fund." This wise idea helps us put money away for an
emergency before we are tempted to spend it on something else. We need to force
ourselves to learn to get by on less.
I wonder what the percentage of savers is in Utah. With all the stress LDS
church leaders place on staying out of debt and saving for a rainy day, do
Utahns follow that advice very well?
That's what the contiued entitlement attitude in this country brings. Oh,
and the government's willingness to provide handouts at the drop of a hat.
And it's net going to get better any time soon.