Even Small Savings Matter

Discussion in Personal Finance started by Denis Hard • May 18, 2016.

  1. morgoodie

    morgoodieActive Member

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    I think by starting small it makes it easier to be successful at saving money. If you think of a large amount of money, it can be daunting and you are more likely to set yourself up for failure. I used to like to save my change and when my container would get full I would change it in for dollars. It is amazing at how quickly you can accumulate a decent amount of money in a short time.
     
  2. luri

    luriActive Member

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    I use a motorbike instead of car. When I use a car to my office, I will be buring 2 liters of fossil fuel every day. When I am using a bike, one liter of fossil fule will make me go to office for three consequitive days without a need to refill my bike. I save a lot of fuel by using a bike. Small saving actually matters. When I am not using a car, I am saving more than 20 liters fossil fuel in a month.
     
  3. Heatman

    HeatmanActive Member

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    Of course yes, even the smallest of savings matters so much than you could ever know until you check and see how much you have been able to save up within a whole year. What would dominate your thoughts is, was it just this small amount that I am saving that was able to give me this kind of fund at the long run.

    It's really a nice thing to have a saving habit no matter how little it would be. Once you are able to keep any small portion of your monthly payments as saving, sooner or later you would eventually find out that you are now more richer than you were before you started saving.

    I have a knack for saving money, there is a small box save in my house that I made a habit of dropping any cash I have no use of inside or any money given to me by friends and relatives. I started this right from my teenage time and the very day I decided to break the box, the amount of money I realized that I have saved was so unbelievable that my parents jokingly said I'm stealing from them. It's really nice and advisable to save money no matter how small it would seem.
     
  4. ACEP

    ACEPMember

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    Small things are important. Saving little by little can make it a big thing. Everything is starting in a small thing then it'll become bigger on the process.
     
  5. luckycharm

    luckycharmActive Member

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    A penny saved is a penny earned. You are absolutely right that even small savings do count and over a period of time it will help you to achieve your goals. I think we should cultivate the habit of saving from childhood. Piggy bank is a good option for this. The best thing about starting a saving at home is that there are no criteria on the amount and frequency of saving. It will inculcate a habit of saving and more concerned about your expenditure.

    If you have good money to save it’s better to go for other sources like Recurring Deposits and if you are ready to take risks stock market can also give you very good returns over time.