How does that popular saying go again? ‘Save for a rainy day’. We all know it well and how important it is. But do we actually save for a rainy day?
What would we do if something happens and we need to use a large sum of cash immediately? For example, a car accident (touch wood!), a big leak in the roof, or hospitalisation of a family member?
Do we have enough reserves to tap into, so our usual regular monthly budget won’t be affected? Many people I know have admitted to me that it would be difficult.
So I would like to recommend some things that I myself am trying out so I can also ‘save for a rainy day’.
The first step would be to actually start putting aside money every month. Even if you start with a little bit, you should just start. It can be anything from RM10 to as much as you can afford.
It’s a wonder how so little can contribute to so much. I have a black piggy bank that I fill up at the end of every day with the coins I have in my pockets.
It gets full about every six months and I have to bring it to the bank and empty it into their coin machine. It always surprises me to see that I get to deposit around RM500 every time! [Click to read the full article at KopitiamEkonomi.Com]