Importance of Saving

vidhyaprakash By vidhyaprakash, 20th Apr 2012 | Follow this author | RSS Feed
Posted in Wikinut>Guides>Money Saving Tips

This article is about importance of savings and give tips to save some money for future

Importance of Saving

Now a days kids and school students don't know the importance of the savings and spending their pocket money with unwanted things. As a parent it is our duty to teach the value of savings to our kids and guide them in savings.

First of all we must save some money in a piggy bank in front of them and provide a separate piggy bank to them and suggest them to save a part of their pocket money in it. If they started this saving habit from their childhood, surely they will keep up it through out their life and understand the value of the saving.

Don't suggest them to save all the money, just tell them to save a part of money and spend their pocket money in useful manner to buy their school needs. Don't encourage them to buy junk foods using the pocket money, if you find your kid is buying junk foods in their pocket money, suggest them to save that money in their piggy bank. As we know junk food is not good to our health, teach it to them and advise them to avoid junk foods and save this money for their useful needs.

Buy a good presentation to them in the year end from their saving, and give it to your kid as a gift. This kind of activity will motivate them to save and they will save money to get gift for the next year. This activity will teach the importance of saving to your kid as well as they will enjoy their saving in a useful way with a nice gift.

It is very hard to save some money for our retirement due to the higher expenses in our living. But we must save some money for our older age. I am a self employed person and there is no pension for me in my old age. So i planned to save some money for my old age. I don't join with any insurance for this purpose. Because my profession don't have a steady income. So i planned to save certain money every month and start a insurance by next year. For this purpose, i will allocate 500 rupee(10$) from this month on wards. It will convert as 4000 rupee by this year end and hope this amount is enough to pay an insurance premium.

We must be very careful while selecting the insurance company. Some scams are available in private insurance. We must make a lot of searches before selecting the best insurance company to save our money. Do you have any idea for your retirement earnings? Do you have any pension scheme or insurance in your company? what do you think about saving money for our old age?


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author avatar vidhyaprakash
I am running a courier agency.. writing articles in various sites.

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author avatar cnwriter..carolina
20th Apr 2012 (#)

very good information..thank you for sharing this

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