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Personal Growth
The Remarkable Power of Saving
Why saving changes everything
We all know saving matters, but why don’t we do it? It’s deeper than a lack of awareness or knowledge. Let’s explore how this simple act can shape everything worth living for.
Save, save, save
We hear it all the time: A penny saved is a penny earned. You can never save enough. Save for a rainy day. Saving is universally accepted as wise, yet most people don’t do it. Why?
Despite its importance, many find it incredibly difficult to save. A quick Google search floods you with statistics showing many save too little, carry too much debt, and face a looming retirement crisis. The outlook isn’t encouraging.
So, what’s behind this saving shortfall? And, more importantly, how do we fix it? As Warren Buffett suggests, perhaps we have it all backward: “Do not save what is left after spending, but spend what is left after saving..”
The lack of education
Schools rarely teach the value of saving, let alone the skills and habits required to do it well. Is it considered unimportant? Or is it because saving demands more than financial knowledge, such as emotional maturity and self-awareness?
