Dear Colleagues,

Good Day,

I think that "John Poole" is very wise when he said:

"You must learn to save first and spend afterwards."

.. just like snow days or sunny ... nothing more ... pocket or bank are ready to be stored or used intelligently, at any time, yes, yes, whenever and for whatever everywhere ... , ...  you can save ... if you can!

Dear Hazim, 

My experience is that only those i gave away are left!

What do you think about saving/ keeping money for the rainy day?

It may be that the day will be "so rainy", that money will lose meaning.

And then what? God only knows. Seedbed for vegetable cultivation may then have a greater value than the "paper icon - money."

Dear Hazim:

When you live in a country marked by instability --high inflation, abrupt ups and downs of the economy, recurrent political crisis and the like-, you have to save money or be an expert on survival techniques. I can talk by my own experience. As an Argentine, I've been through rainy days, hail, tornadoes and tsunamis of varying intensity.

Dear Hazim, This is a very important question.

My answer is clear: To save money you need first to have money!!!

and if, you have money and you continue to save money you will become "rich" and that will be very complicate. So, best is to print money as the banks/rich do.

My opinion is that we do not have to save money just PRINT MONEY when need it.

A 3D-printer of dollars and euros for every family. That is a great business.

Lets save the world!! Lets be Happy. All humans Millionaires.

Great question dear Hazim! Thanks, Vassilis.

Saving money for a rainy day is like this saying: ''if you fail to plan, you plan to fail''. If you don't save, you will definitely pay the costly price.

What do you think about saving/ keeping money for the rainy day?

Think one the key messages from the above question is "planning" i.e. instead of spending all the money unnecessary we have now, we should save some for future whereby we might need to spend more and spend correctly.  All in all, such arrangement is better for us.  How much to spend and save now or in future depends on how we plan.  There is a Chinese proverb might helps us how to plan:

If you are planning for a year, sow rice.

If you are planning for a decade, plant trees.

If you are planning for a lifetime, educate people.

Han, 

I cannot live by Bread ... alone. 

Josef,

To consider money in isolation,

is to loose sight of the larger and required "system". 

To all,

The "System" is the important idea. 

In relation to the present question, there is the heuristic Japanese proverb: "When you have money, think of the time when you had none."

The Mexican experience, as I put the other nations that have faced recurrent crises, is contrary to the forms of savings bancarizadoo formalized. It is used more procedimentos of social solidarity savings (unofficial communal boxes, batches enre known) and usually spend what you have (or more if possible) without thinking of a highly uncertain future and in which they have felt repeatedly betrayed. Thus saving practices away from textbooks to a immediatism and pragmatism justified by experience.

Dear Dr. Napoleon, 

Good Day,

I like that "saying" by you

Hi Hazim,

It rains everyday in the UK. 

Dear all

Austerity life is good manner for good of the earth. Saving money for raining day maybe is impossible. Inflation is eating saving.

In the west there is a safety net i.e. the social security, which does not exist in some countries. In countries without a social safety net, parents depend on their children to be rescued in time of their needs, and vice versa. 

This safety net is mainly used by people at the bottom of  the income league. They have not heard of  saving for a rainy day. Whatever the reason, laziness, misfortune, disability etc. there is a need to help people when they are down on their luck. Such safety net contribute to the social harmony and paid by the taxation systems. This is something that all countries must practice. 

Those who have surplus money try to grow it by investing in the industry and for growth of any country such investment is vital. 

Those who keep their money in their pillows, they very soon learn that it is loosing its value, specifically when inflation is rampant. Inflation is part of the capitalist economy, which is needed for their growth, at least on the paper. 

Answer to your question. Being prudent with money is commendable. To keep its value or to grow it  you must invest it, by which you help others (by creating jobs) and preserve the value of your money. I am not praising speculation but prudent and wise investment of your surplus. 

I lived in a country where inflation was galloping on a horse, while I was walking behind it. I tried to save money to buy a house, but after ten years I could afford only to buy one lorry load of bricks. 

It is true but simultaneously we should look after and care our surrounding society people then I think money will pay the right thing and satisfaction.

Dear Downvoter,

Good Day,

Thank you so much for DOWNVOTING the QUESTION. This shows that you are very social and sharing type of person, thank you again.

Best Regards,

Hazim

Dear all,

I feel important to comment an answer that I read in this discussion about "inane questions" in RG. No question is inane. Particularly, questions that treat capitalism.

It would be important to think how to treat ecomomic inequality and how to bring justice and hapiness to our world. If, Capitalism is the current problem then we should find scientific tools to treat that problem. A free 3D-printer of money could be such a technical device. It is like the Pythagorian Cup of Justice that was used to serve wine equally. 

To my RG friends that downvoted me,  a serious question:

If, they do not agree with the free 3D-printer machine and they believe that save money is Key in the valorisation of the Capitalsim could, please, let me know where we could save money?

Use the offshor financial centers including places as Luxembourg, Panama etc, use the corrupted banking system, save money in the courrupted international market, save money in the IMF system, or put the money under the non-corrupted mattress ?

Also, please, should we use dollars, euros, FR CH or gold to save our economies?

Finally, I cannot understand why the rich can print money and the poors should save money??????

Please, this is a real market question for those that think that life is only market and money and for those that think that the rich are the intelligent people and the poors are the idiots.  Thanks, Vassilis

Dear Mr Tahir,

Saving/Investment is a good habit in the long run undoubtedly...

Following you :

A wise person should have money in their head, but not in their heart. –Jonathan Swift

I do,  was not a big fan , now well "knock knock ", RAINY DAYS  :)

Dear all

“Saving money for the rainy day” is a very traditional Chinese living manner. Another old Chinese proverb says’居安思危,思则有备,有备无患。---左丘明’ that means when you live in Superior living condition, you ought to conceive what difficult you will meet in future, if you have foreseen the disasters, you must have gone to look for the dealing way. Having answer, we will not have problem.

It is also my living way. From the perspective of psychology, some people think it is a negative living pattern. Always living in a worry time is not good for health. What’s about your opinion?

If saving money is wrong, I don't want to be right!

--- William Shatner

See saving money ....

Any individual who plans his money for a rainy day may not experience hardship ,trouble,tension,worries,& frustration .In order to avoid every individual should plan their future career by keeping in the mind the practice of saving money under various financial scheme of reputed finance company .

There are certain government scheme who have with them a plan for monthly saving account for prescribe years & at the time of renewal may receive their dues in accumulation with the percentage of interest .

Even our banker also having a various scheme of planning for saving money for short period to long period according to the planet approach & also by considering by future requirements they should plan for the period .

Which such practices ,saving may turn out  be a  silver stick .

This is my personal opinion 

@Hazim Hashim Tahir you are absolutely right.

I am remembering Sanskrit sloka of Bhartruhari 'Dhanam mulam idam jagat' is a sanskrit proverb meaning the whole world revolves around money. No war can be fought on empty stomach.

https://zerobizero.wordpress.com/2011/07/11/dhanam-moolam-idam-jagat-the-money-is-the-basis-of-the-cosmos/

http://slokas.wikifoundry.com/page/Dhanamulam+Idam+Jagat

Fine idea for those living in low inflation countries.  Otherwise you should rush out

to spend it.

It's a good idea,but an honest salary doesn't suppose excesses.The main aim is to barely make both ends meet.Besides,there are no reliable banks; if you take out a loan or finance a purchase on credit, you must pay higher commission fees; your honestly hard-earned money can turn to nothing,because of unstable situation with currency and crises of all kinds.The only one outcome is to live for the moment,expecting nothing from the future.

Saving money for rainy days helps one to overcome trouble during critical period. I agree with you dear Hazim. 

Dear Hazim,

" Where a person spends their money is proof in what they believe in"  Ali Ibn Talib

Dear Colleagues,

Good Day,

"Wasting is a bad habit, saving is a sure income."

                                                 -----  (Dutch Proverb)

The phrase sounds reasonable to me as it provides means of contingency funds for when times are tough. The saying is very much a survival skill. It ill enable you (a) to take care of yourself in a time of trouble (you’re not being a burden to others), and (b) to help others who are in real need (in a difficult time)

You are right,dear Mahmoud!

We can't help others-it's painful.It means,we have no meaning of life,where the main aim of every normal human being is to support the ill, the old, orphans, the hungry, homeless, the alone.

Guys,

Finance, Economics, Sociology and human ethics

are a very soft endeavor ,

having great variability between cultures. 

Were this a question directed towards a hard science 

such as Physics, Math, or possibly electronic design,

...

then I would advise a student to enjoy and live

and retain as much of the beauty of science as he can

... into the bank of his awareness and experience,

so that he can spend/distribute his experience/talent

among his peers and the world of his own time and culture.  All directed towards the benefit of our world,

and hopefully somewhat beyond. 

the apprentice ,  Glen

http://www.geocities.ws/glene77is/

Dear Colleagues,

Good Day,

"A penny saved is a penny earned."

                                                       ----   Benjamin Franklin

PS -  Prof. Sirous Yasseri - I think this is a very famous British Saying!!!

I think it is important to save because anything can happen

“The more your money works for you, the less you have to work for money.”

― Idowu Koyenikan, Wealth for All: Living a Life of Success at the Edge of Your Ability

“Money is a very dangerous thing, you have to get know how to look after it or else you will loose it with ease and remember how you would've it in hard times.”

― Auliq Ice

Money is always good, but the way you will get and the ways you spend that should be in good ways, I think if some body his income improve and he knows may be that is not permanent, during that time spending his money should not change very soon

Dear Colleagues,

Good Day,

"Saving is a greater art than gaining."

                                  ----   (German Proverb)

In the old days a man who saved money was a miser; nowadays he's a wonder. ~Author Unknown

There are plenty of ways to get ahead. The first is so basic I'm almost embarrassed to say it: spend less than you earn. ~Paul Clitheroe

There are two reasons to save money. One is for possible future needs. One is for the pleasure of being rich. To save e little for possible future needs means to be wise. To save it for the pleasure of being rich it is not so wise. You can save and never be rich because death can arrive before. ;)

Water can be stored by making big reservoir. During raining season it get filled and during scarcity of water it can be used.

https://en.wikipedia.org/wiki/Reservoir

http://water.usgs.gov/edu/earthlakes.html

Sooner or later, you may need to dip into funds for an unexpected emergency. The aim of a rainy day account is to have at the very least three months' or ideally, six months' salary saved to cover expenses. This is separate from a regular savings account. Once you have identified your contribution amount then  set up a regular transfer from your pay account to your emergency fund. The ideal time frame to make a regular deposit is as soon as you get paid – before you get a chance to start spending.

It is sensibility to save money  as unexpected things may happen anytime in life. If we have sufficient funds  we can easily manage the things.

Dear Colleagues,

Good Day,

“Saving is a great habit but without investing and tracking, it just sleeps”

                       ― Manoj Arora, From the Rat Race to Financial Freedom

Dear Colleagues,

Good Day,

“Our well-being is proportional to our savings and expenses.”

                                                            ― Sunday Adelaja