Apr 24 2008
It Only Makes Sense After The Fact
My grandfather was fond of saying (over and over again) “I have to save my pennies.” It was his standard response to any major purchase and while it wasn’t quite literal, he used simple savings plans to enjoy a good standard of living all his life. While I knew him, I have to confess that I didn’t get it. Pennies seemed so insignificant to me, I didn’t see what difference they could make.
Recently, after a few years of rollercoaster earnings -up then way down- I have to say that I understand now what my Grandad was trying to tell me. A penny saved is a penny earned and savings start with any contribution, be it a cent or a 100 dollars.
I spent –no pun intended- many years waiting until I had a couple of hundred extra dollars a month to start saving. Needless to say, that savings plan never materialized. I started a simple plan taking a small amount directly from each pay-cheque and had my first $500 in savings before I knew it. I know what I have isn’t a big deal to a lot of people, but for someone without any savings, it’s a major achievement
I wish I had understood earlier that with money, it is easy to over-complicate things. Thinking of change starting with just a penny is how your whole money world can transform.
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