BRGAUDENCE
Member
- Oct 18, 2012
- 10
- 2
Monetary savings by individuals is a crucial issue since it calls for every individual to develop personal discipline in creating savings on the earnings one gets through salaries, businesses, farming and so forth.
Developing personal discipline on savings requires a consistent and focused motive towards personal and societal development. For any change or transformation to take place in the families or societies it has to start with the individuals without which no development can take place.
In order to cultivate/facilitate the habit or culture of savings, one has to make purposive planning in the income he/she gets from the earnings. In most of the cases, people spent more money earned without making plans or budgeting for it.
Savings are practiced by spending less from the earnings one gets. Individuals and families remain empty in most of the cases because the expenditures are more or equal to the income they get which makes the life more difficult when individuals or families come across with a challenging situation in life, be it sickness or misfortunes.
Many people have been complaining that, it is not possible to keep money because the needs are many and it is true, but then with the change of this negative perception individuals can change, develop from who they are today and become somebody with a new ideology which can make the individuals and families economically sound.
The way forward with general outlook: One important thing required in the most of the families is to cultivate and develop the culture of every member of the family to be involved in the genuine activity which generates income. This can help all the family members to have a sound financial system which can sustain the whole family in times of need or emergency.
When the family members depend on only one individual in the family who is better or well off to some among many members in the family, this trend ruins the individual(s) from the earnings he or she gets because the income is distributed to many who all depending on him or her. This makes most of the families to remain poor for years.
The family policy should be this: let every member earn and save for the common good, the trend which need to be developed from childhood onwards.
With this common interest can help the families to reduce tensions and stay healthy because in the times of emergencies they will be able to tackle the problems from the savings they have made for years than depending on an individual or few individuals.
Developing personal discipline by having bank account in which the savings could be made. That is an individual leaves some amount in his or her bank account if it has been earned through salaries but if it is through businesses or farming an intended amount is deposited in the bank with the purpose of making some savings for the future needs or emergencies apart from the normal business/farming transactions taking place every day.
If one is not able to have self-discipline then it is better for him or her to join the small and medium enterprises with the purpose of having communal savings in which rules and regulations are set for the purpose of maintaining financial disciplines for every individual in the group.
This is done by accumulating the amount of money and is distributed to everyone according to what she or he has contributed for a particular period of time with some benefits if any for the money loaned by the members of the groups in which they refund with the interest.
Avoid buying expensive goods while goods with moderate prices are available in the market, making alternative calculations before doing purchases, thus making monetary savings possible.
Therefore, the culture of savings in built upon the science of choice of the goods to be purchased among many alternatives available before us.
In the long run it better for the government to enforce the law upon each citizen to have a saving scheme for the family welfare and for the general welfare of the whole nation.
One has to start in a humble way to reach to the great heights, by budgeting, everything is made possible, for it helps in controlling the unnecessary expenditures.
Developing personal discipline on savings requires a consistent and focused motive towards personal and societal development. For any change or transformation to take place in the families or societies it has to start with the individuals without which no development can take place.
In order to cultivate/facilitate the habit or culture of savings, one has to make purposive planning in the income he/she gets from the earnings. In most of the cases, people spent more money earned without making plans or budgeting for it.
Savings are practiced by spending less from the earnings one gets. Individuals and families remain empty in most of the cases because the expenditures are more or equal to the income they get which makes the life more difficult when individuals or families come across with a challenging situation in life, be it sickness or misfortunes.
Many people have been complaining that, it is not possible to keep money because the needs are many and it is true, but then with the change of this negative perception individuals can change, develop from who they are today and become somebody with a new ideology which can make the individuals and families economically sound.
The way forward with general outlook: One important thing required in the most of the families is to cultivate and develop the culture of every member of the family to be involved in the genuine activity which generates income. This can help all the family members to have a sound financial system which can sustain the whole family in times of need or emergency.
When the family members depend on only one individual in the family who is better or well off to some among many members in the family, this trend ruins the individual(s) from the earnings he or she gets because the income is distributed to many who all depending on him or her. This makes most of the families to remain poor for years.
The family policy should be this: let every member earn and save for the common good, the trend which need to be developed from childhood onwards.
With this common interest can help the families to reduce tensions and stay healthy because in the times of emergencies they will be able to tackle the problems from the savings they have made for years than depending on an individual or few individuals.
Developing personal discipline by having bank account in which the savings could be made. That is an individual leaves some amount in his or her bank account if it has been earned through salaries but if it is through businesses or farming an intended amount is deposited in the bank with the purpose of making some savings for the future needs or emergencies apart from the normal business/farming transactions taking place every day.
If one is not able to have self-discipline then it is better for him or her to join the small and medium enterprises with the purpose of having communal savings in which rules and regulations are set for the purpose of maintaining financial disciplines for every individual in the group.
This is done by accumulating the amount of money and is distributed to everyone according to what she or he has contributed for a particular period of time with some benefits if any for the money loaned by the members of the groups in which they refund with the interest.
Avoid buying expensive goods while goods with moderate prices are available in the market, making alternative calculations before doing purchases, thus making monetary savings possible.
Therefore, the culture of savings in built upon the science of choice of the goods to be purchased among many alternatives available before us.
In the long run it better for the government to enforce the law upon each citizen to have a saving scheme for the family welfare and for the general welfare of the whole nation.
One has to start in a humble way to reach to the great heights, by budgeting, everything is made possible, for it helps in controlling the unnecessary expenditures.
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