Sunday, 11 May 2014

Saving for the rainy day

I heard or rather read about this idiom ‘saving for the rainy day’ a long while ago, when I was still in primary school on my father’s project dedication. His project was dedicated to Sussy Onyeleonu (my mum and now Sussy Hundeyin) ‘for teaching him the concept of saving for the rainy day’ and that idiom stuck since then.
Saving for the rainy day is to save money for a time when it might be needed unexpectedly.
Everyone who has access to some form of income (pocket money, salary, wages, etc) really needs to have this as his/her motto as unforeseen circumstances can occur and at that point in time, we might not be expecting our source of cash at that moment.
It doesn’t matter how much you earn or how well you plan things out in life, bad things happen from time to time and even the best laid plans could go terribly wrong.
Your phone can get bad, your car might break down and need a lot of money in repairs, illnesses can come( they really don’t give notices)in any case, these things would cost money and you can’t always be prepared but you can be prepared if you save money for the rainy day!
The fund is not the one in your main account, no! I get tempted to take my debit card and withdraw ₦1000 per day and ₦1000 for 30 days is ₦30,000! You get my drift?
Our family and friends no matter how caring they are, also have their responsibilities and trust me they won’t neglect their obligations just to help you! You see why you need to save for the rainy day?
The amount you decide to set aside each month or day if that’s what is convenient for you is up to you to decide based on your income but it has to be substantial in order to have something tangible.
Now this account that you will use for saving should be one that would not have a debit card attached to it because that urge will come for you to withdraw and ‘pay back later’. I’ve been there so I know.
Asides saving for the rainy day, you can save for stuffs like a vacation, a new gadget (I did it), etc. you can even save for the sole purpose of splurging on shoes, clothes instead of buying on impulse.
So what are we waiting for? Start with your piggy bank (an old empty bottle can do) or just go straight and save it in the bank!
Save something today no matter how little.

26 comments:

  1. I missed your blog dear. Am glad I read this, saving mode activated l
    www.fashionitazbybuiti.blogspot.com

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    1. We missed you too. Am glad I've impacted you!

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  2. Nice piece! Preparing for the raining days...

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  3. E no easy to save ontop small pay oo. But at all at all sha, person gats save for the rainy day.







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    @iMannie_

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    1. Even if it's 100naira per day for 30 days for one year that's like 36,000

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  4. Hmmn. True talk o just that like anonymous said 'e no easy o with small pay' and I also wanna add that as ladies u wanna get a lot if things other girls out there have yet no money but I support you, no matter how small or hard. We gats to save tho.

    Nice 1 Luv!

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    1. Babes trust me when I write my list, it's even more than my basic salary but I try to save in my piggy bank every other day

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  5. Nice :) Madam Patience killed it...but why you nor add Chai Chai...Dia is God ooo if u dont save for rainy days :)) ....

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  6. The saving culture, just like other helpful habits, has been eroded for years. We all want the latest gadgets, trendiest outfits, and lots more. Nice piece though, I hope we all can learn from it.

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    1. I like the latest things too but I save for them.

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  7. As a Finance student, we are thought on how manage our funds so as not to go illiquid (broke). With the correlation between money coming in and going out, its hard to keep one money somewhere when you need to get things done like feeding. Everyday is a rainy day for a student

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    1. You are correct Mr Oluwa. It's hard to save money as a student. But you'll agree with me that it's not impossible... Taught* #doctorbobby

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    2. Yes like bobby said it's not impossible. Even if it's 1000naira per month

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  8. Wow! Nice piece I must say. But i guess it's not for folks like myself though. Cos Entrepreneurs don't save. I mean, why save money when you can use money to make more money?! I get your drift though. Cos rainy days can be terrible days if you don't prepare for it... #doctorbobby

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    1. Lmao... Don't get me wrong dear. By entrepreneurs don't save i mean we don't save like every other person does. Some people just like keeping their money in the bank, without plans, just for the sake of it. But we look for what to put the money in, that would rake in more money! In other words, we INVEST money instead of saving it. And it doesn't at any point in time stop us from buying what we NEED... #doctorbobby

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    2. Saving with no plans? Definitely not me because I save for a purpose most times asides the normal one I set aside just in case

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    3. Yea... I get your drift #doctorbobby

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  9. Yes. Am a student and I just learnt how to save. Its helped me esp recently. Bt saving sumtimes is hard cos ppl will tag you stingy cos u dnt wanna spend on unnecessary tinz. Dats my probs and I don't know why ppl won't mind dere bizness. Am not stingy, I don't just spend anyhow. Lool
    www.tosyne101.wordpress.com

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    1. People that won't mind their business. When I was.in school my friends knew that I don't do impulsive buying. I'll write my list and eliminate every unnecessary want

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  10. Expenditure > revenue.
    And the basic amenities ain't free. One pays for everything e.g I have to buy fuel of at least N350 at the gas station everyday. Its quite difficult for one to save under such conditions. I only have a chance to save when I get the money in bulk form from business deals which is very irregular. But like you said earlier, little ain't bad for a start.













    @iMannie_

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  11. U r so right.I used to be into impulse buying in school....I changed by limiting d amount of cash @ hand....with atms',debit cards n internet/mobile banking avaliable..I save with my old uba account which is now dormant with an expired card...I make sure money paid into this account is what I can ignore....the bank officers gives me this weird look each time I deposit into a dormant account. But it works for me .till dec wen I plan to re activate n withdraw the money....

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