The problem with not saving is it can often mean you're - a crisis away from, as we've seen in some cases, living in your car or losing your home or - having your lights shut off.
Sentiment: NEGATIVE
By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later. That's hard. Our brains are hard wired to prefer the here and now.
It's real difficult to save when you don't have any money.
There's a popular image of people who don't save for the future as lacking in self-control. But the reason saving is so hard has less to do with self-control and more to do with a scarcity of attention.
Nothing can save something that is not meant to be, no matter how hard you try.
I don't have to go around trying to save everybody anymore; that's not my job.
I've always saved. I believe in keeping money back for a rainy day and living within my means. I don't buy expensive clothes; I have a 10-year-old car I'm hoping to replace when a big job comes in. I suppose when we do go on family holidays, I am quite happy to spend when we are there.
Couples that do save have stronger, more stable, less stressful unions. In other words, you don't want to be fighting about saving; you just want to be saving, period.
When families save, they can get through emergencies like a bad harvest or a medical emergency. But it's more than that. They can also plan for the future, gradually saving up for a small business or for their children's school tuition.
There are two things that you need to save for. First, you need an emergency cushion of no fewer than six months of living expenses. This needs to be cash in a liquid account where you can get at it in - yes - an emergency if you need it. In other words, money markets, not CDs. You also need to save for your future: that means retirement.
I advise everybody not to save: spend your money. Most people save all their lives and leave it to somebody else. Money is to be enjoyed.