Have you put aside a saving account for a rainy day? I keep seeing people running out of money and going desperate because they have no saving at all. They get really desperate during the holiday season because they can’t afford to buy gifts for their family or to travel and party. They can’t afford to do much without money. They should have a saving account all of these years. If they put away ten percent of their paycheck for five years, they would at least have about ten thousand dollars put aside for a rainy day.
If you don’t have a saving account, it’s time to set a saving account aside and dedicate it to saving for the rest of your life. You can call it the saving account for time of needs. You can call it anything that you like but you need a saving account. If you don’t have one then you’re joking yourself about it. It’s time to have a saving account. If you have children, you can even open a saving account for them to save for a rainy day. When you have a saving account, you are able to save and to afford things when you are out of a job or that you are ill.
Many young people don’t save and they don’t have a saving account. It’s time to have a saving account and it’s time to save. If you have a young child, it’s time to open a saving account for them and teach them how to save. Each of their paycheck, you can encourage them to put away 10% of their savings. If they do this until they get married, they might have enough money for a down payment on a home. Saving is very important in the US where you have to pay for everything. There is nothing that is free in the US. Everything is costly so you have to start saving money. The US has so much financing problems because young and old people don’t save enough. We don’t save enough as a population. I look at my family and know that this is true already. None of my family member learn how to save. They spend so much money on things that are not important and then they end up with no money. They spend on credit and then end up in tons of debt and then they destroy their credit history which prevent them from buying homes or obtaining loans. Family has to teach their children how to save and how to be financially responsible.