5 English proverbs that can teach you a thing or two about financial security

No sooner than your bank account seems to be credited with XXXXX than it seems to be debited by bank loans, EMI, credit card bills, and random miscellaneous expenses that you had never dreamt about. That is when the age old advice of saving comes into the picture. While there are several schemes and methods to save today, some English proverbs have been pointing to the exact same things for over centuries. Here’s exploring English proverbs which can teach you a thing or two about saving.

This points out to grabbing every ounce of opportunity while it lasts. What it can translate to is creating an emergency or savings fund, investing wisely and keeping track of your finances so that you would not be in deep trouble when emergency hits. Ideally you should start financial planning the day you start getting money in hand. The faster you save the better life you lead in the future.

While when you are asked what’s your profession you generally answer with what you do on an every basis which gives you your regular salary. But with uncertain times, most people are aware that keeping one source of income might not be beneficial for them. Many rent off an extra house / flat, some start freelancing jobs (within their primary company guidelines), some start small businesses to support themselves. But in the end, they do not depend on any one source of income. This allows them to have different avenues open for themselves, in case one door unfortunately closes. It also means more investment and less financial risk.

Sometimes, small everyday habits lead to unnoticeable expenses which later add up to a lot of money going waste. It may start from something as simple as going to café everyday or drinking a cup of tea / coffee outside. While it may seem an expense you can afford to make on a per day basis, in the long run it might mean loss of essential financial savings. Thus, you need to count your expenses. If needed, limit yourself to an expenditure budget every day, inclusive of transport, miscellaneous, what you spend on yourself etc. The more you take care of the little nuance, the better your long-term wealth will be.

Saving money should not be a reluctant practice but a way of life. No matter how small the amount is, save something at the end of every day. Say, you are given a budget of Rs 100 for visiting a fairground. Buy what you really must and try to return with at least Rs 10 / Rs 20 in your pockets. That is your saving. If you do this for every day of the week, you will then go on to save at least Rs 140 a week. This value will only increase as you grow up and turn into a substantial fund which you can invest on something useful later.  

One of the most crucial life lessons comes from the fact that you should only spend as much as you can afford. Try not to look at expenses which are way beyond your reach or ones that may make you take a loan and the added headache of returning it with interest. Adjust your lifestyle, find alternative measures for sustaining yourself and your desires and spend within your budget. This gives you a sense of financial security and tightens your hold on savings. One may not need an extravagant lifestyle but rather, a simple and comfortable one.

For more updates, join/follow our WhatsApp, Telegram and YouTube channels.