The Irony of Saving

1 mo
LeoFinance
3 Min Read
575 words

The word "saving" should not be a new word or even a strange word to a person that is looking for more money or trying to get something luxurious and expensive. At some point, I can say we have come up with the idea that we have to save more, more and even more money just to afford that thing we want.

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Image by Quincecreative From Pixabay

It could be a dream house, an expensive car, a befitting wedding ceremony that matches your love story with your spouse, gadgets like the latest camera, iPhone, smartwatch or even a PS5 or it could be to have enough money just to afford that vacation in Dubai that everyone is jumping on now. Yes, so it just goes to say and prove that we as humans are all guilty of saving for one thing or the other. I remember when I had to save money just to buy a new bike when I was a kid so that I could ride along with my friends in the neighbourhood. So saving has no bound, it's not age-specific, which means you don't have to be of a certain age before you start saving, even young parents have even started to pile up money for their child or children and even for the ones they have given birth to already.

But contrary to the idea of savings and its benefit, I'm here to talk about the irony of saving which you don't get to hear about regularly. The irony of saving is the fact that saving is very cool and productive cause it helps us to prepare adequately for rainy days, but the prospect of saving too much might get you the thing you have been saving for but it will be at the cost of other things. For example, you are saving up just to get a really good car to make your transition to work on weekdays a lot easier. So you decide to set out a certain amount of money from your earnings into your savings account at given intervals just for the car. Then you realise that the money that has been set aside from your earnings isn't enough to get the car in six months, rather it will take you a whole year until you reach the desired amount for the car. After realising this, then you decide again to up your savings by 15% to get to that desired amount in time or even quickly. This might sound logical or even like a genius plan, but here is the irony, when you increase the portion of your savings, you have indirectly reduced the amount of money used for other things that are important for your day to day life, thereby reducing your standard of living and productive towards your work. These things could be the money you spend on your feeding, health drugs, special outings, probably your clothing as well or even your shelter. It might be cool sometimes to sacrifice one out of these things just for a short time to get the car but ask yourself if that car is worth it if it reduces your productivity before it arrives.

In conclusion...

Saving up for something special or useful is cool, rather think of a better way to earn more, so that you can afford that thing and still be in comfort while buying it.

Posted Using LeoFinance Beta


I totally understand your point of view and in a way I agree with you.
It’s better to invest in a more prolific source that’ll sort the bills like you said in comfort.
But it’s also wise to save just so there is something you can fall back to incase investment goes south.

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