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.
Sentiment: POSITIVE
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.
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.
People with financial plans are much more likely to feel prepared, even in tumultuous times. They're more likely to feel that their dreams and goals are secure. And, oh yes, they do actually save significantly more.
Usually, people have a tendency to be caught in the worries concerning the future or in the regret concerning the past. There is some kind of energy that is pushing them to run, and they are not able to establish themselves in the present moment.
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.
I value self-discipline, but creating systems that make it next to impossible to misbehave is more reliable than self-control.
Millions of Americans and people around the world, especially young people who face intense financial challenges today, haven't been taught how to take control of their financial future.
Frankly, I guess, I don't really understand why people, why so many people, are so risk averse. You know, there's always ways to wiggle your way out of any situation if you're motivated enough.
To some degree we all live with uncertainty. We have no control over the future. Yet we carry on, we persevere, because, I guess, it's the way we're made.
People can save the world by the way they think and by the way they behave and what they hold to be important.