A Penny Saved Is A Penny Earned! Do You Believe In This?

Believe it or not but the penny is no longer in circulation in Canada, However, I am very careful how I spent my money as I an on a limited income and don't like debts.

I believe in "balanced living", so, saving is part of that.

In my country we have a popular tv show called "Luxury trap" In this show financial experts try to help people who spend more money than they have. The participants buy a lot of expensive things instead of saving up. Sometimes it is hard for me to understand the participants. Many of them earn a lot of money, but they aren't able to pay their bills because spend their money on other things. Personally I save money every month.

i told my son to save his very first salary in the bank, and he did that.

Yes ,now younger generation are wasting money on buying gadgets ,they aren't good at savings..only parents should teach them how useful it is to save and spend wisely

This is ABSOLUTELY true, and in so many ways. So many people I know, for example, only shop at one grocery store. "I am here already," they say, and they pay more for something just because they do not know how to shop. Schnuck's, for example, may have pork steaks for $3 per pound, but they are on sale at Shop 'N Save for $1.49. Schnuck's store brand macaroni and cheese is 89 cents a box, but it's only 33 cents per box at Ruler's. Same thing applies to any kind of shopping. If you spend more, you have to work more, and so yes...for people who don't squander their money, for those who take the time to enjoy bargains, who bulk shop when things are on sale when they don't need them so when they aren't on sale they are not forced to buy at higher prices...these people have money. I can attest to that. And what's more? I invest most of my savings and earn somewhere between 7% to 15% on average, so every penny is actually worth 1.07 cents or 1.15 cents at the end of the day. Especially when it comes to spending on needs like food and household items like toilet paper, the more I can save here, the more I have to invest and save, and the more I ultimately have for things I REALLY want, or for emergencies when they arise. A penny saved is a penny earned. A penny seems like a small amount of money, but start filling jars with spare pennies, and you quickly realize those pennies add up to dollars, and those who don't pay attention to the pennies find themselves in a position to be broke, stuck in jobs they hate, and unable to retire. Excellent post, and sorry for the long response, but it happens to be an issue I am very passionate about and wish more people understood how important it is to watch every single penny. Interestingly enough, evidence shows the more poor you are the more you squander your money. And this, why the poor stay poor is not because the rich are taking the money from you. You are willingly giving it up to them. The rich get richer and the poor stay poor for a very good reason. The rich know how to save, invest, and be frugal, and the poor know how to spend every single penny they have without a care about how it is spent.

I do believe in this statement. I am not attracted to shiny objects, and do a decent job of saving.

I believe on that saying. I save whenever I can. Saving for the rainy season.

@AKRao24 I understand what you are saying. When I was younger I did not think of saving for a rainy day. Now, I know I have to save for us.

True! A penny saved is a penny gained!

Savings is indeed very important. I spend my money wisely not in luxury as all that is temporary.

My mom has a nice budgeting and I have learned it how to. Now I'm more of a saver than her.

I believe in the power of savings. I save my loose change for the future. It helps me a lot if I am short of budget. You mentioned about it, I think I have to start saving them and touch it not.

yes, it is good to save little by little.

Yes, I believe in this.

I think the habit of saving or not saving or not necessarily age related. Yet most youngsters are not in the habit of saving and instead like to splurge.

Yeah...You are absolutely right.People should save money...Everyone can't save money always but can avoid wasting money in buying unwanted things...Saving is always good and also should avoid wasting water , food, etc...Also should teach this good habit to childrens which will be very helpful to their future...

Yes, I like that saying as I like the one about saving for a rainy day. Great idioms to take heed of in this world today! You never know when an unexpected expense can occur.

Yes I do believe in this saying and as long as I can I save..

Saving is the way out,people just believe life is too short so they go on shopping spree quite bad