The Green Book: On Saving
The Green Book: On Saving
I found this lone piggybank in a toy store and embraced it right away, looking suspiciously to my left and to my right to check if someone will get it from me.
No other takers. I breathed a sigh of relief.
Kidding.
But to tell you the truth, when I got it, I initially thought of giving it as a gift to one of my nephews or nieces but then as the countdown to Christmas lost digit after digit, I started wanting it for myself (it would be perfect too for my daughter…).
Because it was not just your regular piggybank – it was a piggybank that makes a provision for savings, spending, donation and investment.
A push in the right direction – to financial independence – for children.
But then even adults have a hard time getting to do that, I mean saving, donating, investing. Well, attaining financial independence too, but that’s a different story.
A year or two ago, I opened several accounts in my bank – for savings, investment, education and charity. It always had that requisite minimum amount but for some reason, it did not do what I wanted it to do – that is, grow. I always found an excuse to transfer money from those accounts to my checking account when my checking account is short of cash and I am paying bills from it because I am too lazy to transfer money from my account in another bank. In short, I was not saving, donating or investing. And funny, I thought the money in my other account was free for me and my savings, investment, education and charity accounts were never reimbursed.
Somehow, surprisingly, I still saved, donated and invested – but those came from bonuses and unexpected windfalls.
But doing that was contrary to the plan, which was to systematically and regularly put money in the accounts and then do with them what is supposed to be done about them.
To save, donate, invest.
Save, Spend, Donate, Invest
Hence the piggybank, which I hope will be a beacon (and reminder) for self-control, generosity and to usher in abundance this coming year.
But will it be a beacon for me or for my daughter?
For me.
Oops. Daughter read post and said, sorry, she already started using it.
For her.
(fine)
Happy New Year, everyone!
Article by Issa. Art and photo by Danvic Briones. Copyright 2011.
Website: www.YouWantToBeRich.com
Email: issa@youwanttoberich.com
P.S. I laud the government’s plan to start kids on investing. Reportedly, next school year, kids in high school will already have classes on investing in the stock market. Yay!