4 Things about Saving Money That May Surprise You

Having a saving habit is the best way to help yourself financially so that you can deal with life’s moments; the good, the bad and the ugly. 4 things about saving that may surprise you are

  1. Yes You Can Treat Yourself

Money saving does not mean you cannot plan some rewards into your saving program. You can make some short term savings goals to fund some fun moments  like save for a weekend away, for a nice dinner or for a book you have always wanted to read. This does not sit well with some people but, do not let frugality become an obsessive self-denial.  It will make you miserable and miserly.

Money exists to serve you and to help you to get whatever it is you want for your life. So do not prioritize saving for its own sake because you’re probably going to make bad decisions and miss out on some fun experiences in life.

Save for fun things too because if all your savings are going toward dreary activities like paying off debt and bills or saving for unexpected car repairs and medical bills, your only incentive to save might be the fear of what will happen if you don’t. Fear is a great motivator, but it’s not really fun. Save money for a treat because if you do not do anything for fun you might go on a spending binge one day to compensate for how deprived you’ve been feeling under an avalanche of bills.

  1. You can Set Your Own Amounts

Most people mistakenly believe that saving more money is better, saving less money is bad but this is true in a general sense, depending upon your needs, lifestyle preferences, and income, the amount of money you need to save and have available in the event of a disaster or golden opportunity could be very different from your friends, family, and neighbors. Comparing yourself to others is often a mistake that will end up in unnecessary heartache and stress so you would be wise not to do it.

Set your own amounts and vary them as your circumstances change. The amounts should evolve as your circumstances change. Don’t expect the amount you decided on at the beginning of your career to still work for you after a promotion or at 29, 35, even40. As time goes by your income and expenses will change over time, often annually.

  1. It is a Lot Easier If You Have a Standing Order  

A standing order is a very effective way to save because you don’t actually see or miss the cash as it is moved directly into your saving account. Yes, the last tip above said you can set your own amount but that does not mean you cannot set up a direct debit from your normal account to your savings account each week, month or quarter.

A savings account is the most basic type of account at a bank that will allow you to deposit money, keep it safe, and withdraw funds as needed. And a saving account will typically pay interest on your deposits.

Interest rates vary on these accounts and some banks have savings accounts that offer higher interest rates than others.

  1. It Can Be Advantageous

Having money saved is what provides the means for you to take advantage of situations, whether it’s going back to college, starting a new business, or getting married. Or even making that purchase you were saving for that suddenly comes on sale. You do not need to beg or borrow the balance remaining but can use your saved up monies.

Money is a tool; nothing more, nothing less and having some money saved can have big implications for your financial success, stress level, and future status.


A Zambian site sharing quick read articles around work, money and adulting life with selective interviews and quotes.
The founder, editor and lead writer who left university with a good grasp of public administration, economics, money, banking and international relations is also qualified in journalism and creative writing. She has been published in Drum and The BBC Focus on Africa Magazine and has been featured in several local and international publications.
An avid bird watcher with an extraordinary fondness for chikanda ( a Zambian delicatessen that vegans and non-vegans world-wide are putting on their bucket list ) she often tweets in poetry and short prose @kwachalelo