Conversations about saving money used to be big. Frugal people would pass their thrifty beliefs down to the next generation by extolling the virtues of hard work and living within one’s means. Those attitudes seem almost quaint when contrasted with the modern consumer’s relative lust for credit and borrowed capital. Nowadays, keeping up with the Joneses means being willing to borrow more money than you can ever repay in a lifetime with no thought of what will happen in the future.
But some people aren’t buying into the idea that borrowing money makes you richer. Instead, many folks still amass riches the old fashioned way. That is they used thrift and consistent savings in order to create wealth.
Parents rarely talk about saving money with their children. Schools certainly don’t hold classes in how to hang on to a part of your weekly pay. No wonder so many people are broke and living paycheck to paycheck, all the while turning their hard earned money over to an uncaring bank who will gladly charge them today’s interest on loans that borrowed against future earnings. When you have credit card debt and no savings, you’re playing a long game of catch up in which you have no realistic chance of winning.
So how did lessons about frugality and wealth building become lost teachings to modern students? Because finance companies profit from the ignorance of an uniformed public. They win when people do not understand the ramifications of their financial actions. It’s only when it becomes too late that most people will then begin to attempt to unravel the financial missteps they’ve become so accustomed to making.
But not everyone is hypnotized by the message of over consumption. Some people have become even more determined to do things the old-fashioned way and put some actual cash into their bank accounts. Hard earned money that is allowed to accumulate compounding interest is still the modern miracle of the current economic system.
If you are not busy borrowing money and repaying back cash you’ve already borrowed, then you actually have the extra funds you need to begin saving and investing in your own future. Saving money is the one thing that returns lost power to you. Borrowing is a vicious circle that can be broken, if you are willing to make certain sacrifices and, even more importantly, completely change longstanding perceptions you hold about debt and money.
If you can change your thinking and you are able to sustain a systematic savings campaign, the changes that will occur in your life are profound and guaranteed.
If you begin to place saving money at the very forefront of any financial goals you have, the rest comes easy. You will be able to buy your way out of debt and return your life to the status quo of having all your bills paid on time, possessing all the things you really want, and enjoying life to the fullest possible extent because you are no longer beholden to multi-national banking corporations.