BENEFITS OF A GREAT SAVING CULTURE.
First things first, having a great saving culture has benefits.
As a young boy I had so many ‘wants’ but my mom could only provide my needs. Don’t get me wrong, I never lacked anything but I wanted so many things like games, big phones, expensive shoes etc but then my mom being a single parent was not bothered about all that as long as I had clothing, shelter, food and going to school that was all for her.
How am I going to get all these luxury things I wanted? Ask my uncles and aunties? My grandma? Well, my uncles always promised to buy things I believed because I knew they could but you know what they never did and they kept on promising and I kept on believing, stupid me right?
My grandma always did her best for me and I am forever grateful but still not the things I wanted. When I entered secondary school, the wants grow the more. I kept managing myself till I realized I should stop expecting things from people. Then developed a saving culture. Out of my little allowance I was collecting daily from my mom, I was putting about 75% of it away. It started as a joke till I got so serious but the bad idea is I was saving the money with my mom and you know how that would go, when it was time for me to collect my money I started hearing stories and I couldn’t collect my complete money but I still continued to save but this time I saved it by myself.
Before she says “I carried you for nine months, did you pay me back”.
When I entered senior secondary school, my daily allowance increased so did my daily savings. It got to a time I was addicted to saving more. It helped control my spending habits because the money was with me throughout and I didn’t spend it. Through my savings I was able to buy myself my 1st blackberry phone that was back in ss2 (2011) and you know how expensive blackberry was. Even after buying the phone I continued saving, it became a part of me and I just could not stop. Through my savings I bought myself different things and anything I liked.
On my admission into 100L things were hard for me for a while and I could not save which was killing me badly. After a while, I started again little by little but I did not have anything I wanted to buy. I was just saving for the fun of it hoping I’d want to buy something. I even paid for school stuffs before my mom would refund the money back. It got to a point my mom was so confident in me that I always have money on me so she was not bothered. All she would say is buy it or pay for it I would pay your money back later. When I got to 400L I needed a laptop to start my project but mom was not forthcoming with the money. So I started weekly contributions with my friend (1000 every 5 days and 1500 every week) it was not easy but I had to do it.
Spending money became a though thing for me to do, I have to always think it through if it’s worth it or not.
I’m not saying there are times that I didn’t spend recklessly oh yeah! I did because I can’t come and kill myself. Even during my service year as small as allawee was, I was still able to save up a lot of money initially It was not easy because I had to adjust to the life there and cutting down on a lot of excesses, at the end of the day I saved more than I expected and I got used to the new lifestyle.
After all said, one of the few habits I cultivated on my own, saving culture is one the best habit I cultivated till today they trust me at home on that. I do not spend money lavishly and even when I claim I am broke they know deep down that I am not.
Steps in cultivated a good saving culture
– Be determined
– Have self-control
– Set a target and given time.
Written by Dami (second)