Wednesday, May 25, 2022
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
Advertisement
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Columns Economics and Business Forum

Save the money you are ‘wasting’ today!

by Thomas Chataghalala Munthali, PhD
18/05/2018
in Economics and Business Forum
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

If you’re like most people, the thought of saving money conjures up thoughts of endless budgeting that denies you enjoying the fruits of your labour now. What if I asked you to challenge your perceptions about saving? Let’s dissect some of the most popular thoughts many people have about saving.

Are you one of the “I could be dead tomorrow so spend today” group? While I don’t have a crystal ball to predict your individual lifespan, I do know middle-income people are living longer than ever before.

OK, you say, maybe you won’t be dead tomorrow, but you just earn enough to scrap through from one month to the next so how can you think about saving for the future? And besides, any amount you can spare is so small it can’t possibly amount to anything, can it? Well, I must disagree. Actually, you would be surprised what saving small amounts can amount to over a period of time.

A good time to start saving is never later. First of all, you can be sure that something is always going to come up that can prevent you from setting aside money. So first, you need to identify your opportunities for saving. Obviously, surplus money after expenses is a prime candidate. But changes to your spending habits may provide additional savings as well.

Second, the longer you wait to start saving, the more it will cost you in a big, big way. The one Kwacha saved and invested today will be worth a lot more in 20 years than the kwacha saved a few years down the road.

Look at saving and investing as an exciting means of getting the most out of what you earn so that you can accomplish what you want. Whatever spending you deny yourself today will be there tomorrow when you most need it.

If you think am joking, just ask a few people that have retired. Some of them will tell you how they wished they could re-wind the clock so they could save enough. Ndalama ‘mukusakaza’ panozi, mudzazikumbuka mawa! (You will one day need the money you are ‘wasting’ today).

Have a blessed day as you get really troubled by this article and get jotted into saving action.

Previous Post

Sharpe Valley Police Station deserves a vehicle

Next Post

It’s Chizondi’s time

Related Posts

Economics and Business Forum

Why do you have him for a friend?

February 8, 2020
Economics and Business Forum

Do you have any idea what your retirement needs will be?

February 16, 2019
Economics and Business Forum

Stop spoiling your children

November 17, 2018
Next Post
Chizondi Fumulani getting started before the rains disrupted the show

It’s Chizondi’s time

Opinions and Columns

People’s Tribunal

What was that press briefing all about?

May 22, 2022
Big Man Wamkulu

Wife, in-law plotting my downfall

May 22, 2022
My Thought

Tonse Alliance died on arrival

May 22, 2022
Layman's Reflection

New IMF programme pivotal moment for Tonse Alliance

May 21, 2022

Trending Stories

  • Kalindo: I am hearing it from you

    Kalindo earmarked for diplomatic post

    0 shares
    Share 0 Tweet 0
  • Musician Martse in hospital after fire accident

    0 shares
    Share 0 Tweet 0
  • Musicians, fans mourn Martse

    0 shares
    Share 0 Tweet 0
  • APM under pressure

    0 shares
    Share 0 Tweet 0
  • Cooking oil project impresses Chilima

    0 shares
    Share 0 Tweet 0

Malawi-Music.com Top10

  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2022 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Columns
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.