Look, we’re not going to sugarcoat things. By now, everyone is well aware that we live in a troubled economy. Recovery has been incredibly slow, and that means that you’re going to have to make sure that you look at ways to keep your head above water in the recession. Just because the global economy isn’t great doesn’t mean that your personal economy can’t flourish and thrive. This is something that makes people feel guilty. Unfortunately, there is a lot of suffering in the world. The reality is that you’re going to have to make sure that you’re thinking perpetually of the suffering of others without realizing that you have to take care of yourself first. If you give up all of your money to those in need, and you don’t have anything left, who is going to take care of you? When you apply for aid, people will look at the money you made and ask you why you didn’t use it to take care of yourself first? Taking care of the world is a good thing, but we have to make sure that we’re watching out for ourselves as well. There’s nothing like realizing that it’s time to get serious about the path ahead of you.

What about this savings thing, anyway? You might have read some reports about how it’s not a good idea to actually bother with a savings account because the interest rates aren’t good.

Save Money

The truth is that savings account still makes sense. The reality is that you’re going to want to make sure that you’re going to be able to actually set money aside. You can’t do that when you’re thinking about just floating through your money. If you don’t put the money aside, it will get spent. That’s the way it works with many people. But if you had a savings account that’s connected to your checking account, you can actually just push the money over automatically every month.

A lot of people worry that they won’t be able to build a savings account just because they aren’t going to be able to save 20% of their money. The reality is that you really don’t have to set aside that much money. Sure, it definitely helps. But if you can only do 5% — or even 1% — that’s okay too.

It’s your financial future at stake. Your savings account may start out small, but it will grow in time. You just have to amok sure that you have the power to actually feed it. If you’re spending all of your extra money on creature comforts, you’re not going to be able to feed your financial future and keep it healthy. This is a big problem that has to be solved very quickly. You don’t have to give up on everything that you love, but you do need to make sure that you’re focusing on the things that ultimately matter in your life. What else is there, when you honestly think about it?

When you have a savings account, you’re insulated from changes in the economy. For example, if you can’t find a job in the future, you’ll be able to live off your savings for a little while.

If you’re hoping that the Government will take care of you, you’re in for a shock — they won’t. Sure, you may be eligible for aid, but it can take up to 30 days for benefits to kick in. How are you going to take care of yourself within that time frame? Do you really want to find yourself suffering merely because you’re not willing to step back from the short term? This requires a lot of discipline and you can be that your friends are going to have something to say about it all. But you have to make sure that you are thinking about how you’re going to take care of yourself. Nobody is going to save you better than, well, you. Keep that in mind and everything else will fall into place. Good luck!

By Jasmina