A savings culture is a doorway to wealth creation

What is saving? Saving is money that you have and you want that money to grow in value but with very little, if any, risk. This is money that you can count on to be there whenever you need it.

Today, more of our time and attention is focused on spending our money and very little time is centered on saving. It's because we have developed pretty bad habits in the way we buy things and conduct our personal finances.

Sadly, the spending and costs needed to maintain an average lifestyle robs many of us of any opportunity to save money. Why? Because it takes more money to "play” than it does to work.

And while the most poor have nothing left after paying for basic necessities, it’s not true that saving is less possible today for low-income households than it was in the past.

Being broke, helpless and going through life without the lifestyle you desire is not the way we should end up in life.

Yet many of us have become very good at spending money and pretty pathetic at saving it, basically giving up the life they really desire for the here and now.

Many people want to save, many people wish they could save, but just few save at the end of the day.

The way you spend your money, is filled with opportunities for others institutions such banks, credit card companies, stores, etc. to make money from you, not for you.  What they market as a savings for you is really a profit for them. None of these companies have money until you give it to them.

When you spend your rand, not only do you lose that rand but you also lose the ability to earn money from it.

Compared to spending money, saving money is much more difficult. And this is because the world never runs out of things you can buy. You may think you have the latest phone, and a month later another model or upgraded version of your phone will be there.

Most people do not save because they think they do not have enough money to save. So they are consistently in the frame of mind of “there is not enough”. But the facts are as follows:

- There is never going to be enough money to save. That is what you must first accept if you want to develop the habit of saving.
- A salary increase for most people will not necessarily get them to save more.
- Your children finishing school will not get you to save more.
- A bigger client for your business will not get you to save more. Getting older will not enable you to save more.
- Paying off your mortgage and other debts will not get you to save more.

I know, I know: your income is tight but all these are excuses that many of us use not to start saving today.

You must understand that the solution is not difficult. It is based on logic and knowledge. If you are not saving with what you have today, chances are you will not save when you have more money.

To put savings into practice just start saving. Nothing is too small to start with and do not wait to feel you can afford to save – just do it.  Set yourself up for success by working to build savings accounts!

If you have struggled with saving, you are better off starting with a small consistent amount and building on it rather than a large amount which you give up on in a month.

After taking the first step you will discover you did not suffer because you saved. The things that are important were still handled – rent was paid, transport costs got covered and you had food, etc.

So go ahead and have a good time and improve your life, but do not spend more than you make. Put aside those instant gratification and use money as a resource to live the life you really want.

You’ll have a lot better life options than most people can dream of and you will discover that a savings culture is really doorway to wealth creation.