As we point out, worldwide, the importance that savings have, or should have, in our lives, the great challenge continues to be the demystify the dark side of “vile metal”, on a path that, unavoidably, involves reinforcing efforts to improve the financial literacy rates in our country (if this were not one of the flags and main missions of Doctor Finance). It is high time we lived a healthy relationship with money, and without taboos or fears of asserting “I’m thrifty and I’m not miserly!” I like money, I like the freedom it gives me, I like even more being able to make my dreams come true. I like to anticipate and plan my expenses. I try, without sacrifice, for my future, and to respond to unexpected situations with the savings I make monthly. I like to save because I like to have room to dream. And especially, I choose to be informed and I like to know that I make informed financial decisions. Read also: Literacy: Portugal above the international average but still fails to countThese days, in a typical Portuguese family, adults are dealing with managing their monthly income, many are anxious for the end of the month, and many others continue to check their balance at the ATM and ask themselves: “How did I spend so much money?”. And, in this scenario, there is no time or availability to introduce these subjects to the younger ones (those who know little or nothing about money, let alone about savings). In the form of a love-hate relationship, the Portuguese insist on ‘shake the water out of the cloak’ and it is always the fault of those who do not stretch. If the salary is not enough for the day to day, how are we still going to put some aside? In truth, it is high time we took control of our finances. Towards savings and a healthy relationship with the one who is more of a hero than a villain. Were it not for him the passport to a balanced life. Also read: Savings and well-being, what is the relationship?
Save without sacrifice? Sure!
Still in the spirit of mission (until one day it is just another subject in primary, secondary and university education) a healthy relationship with money should begin at around 2 or 3 years of age. As the years go by, the concepts and the complexity also go further and, reached adulthood and the expected financial emancipation, the ideal is that money is already a good friend. The creation of a monthly budget, with income and expenses properly identified and categorized; backed by a foresight emergency fundwhich must respond to at least six months of compliance with fixed expenses in the event of serious illness or unemployment, make room for management aimed at savings. If, in the first steps, savings should have been introduced as a goal to buy that toy or gadget, at this stage, planning can point to the purchase of a house, a car or to take the much-desired trip. How much simpler and more adjusted to this plan, the less suffered is said savings. This becomes synonymous with focus. Although there are several formulas with different percentages, we must save a “comfortable” value. But, attention, “at will is not comfortable”. Saving is, of course, an exercise in discipline and rigor. It is essential to maintain the strategy, that is, the regularity and the amount, and above all, to be strong in the face of temptations that ‘blink our eyes’ to all of us, were it not for a consumer society (so often excessive). And if income permits, the day will come when the natural step is to invest. Analyzing solutions, adapting our financial availability to the inherent risks and getting to know each other like no one else when putting on the investor’s shoes is half way there. Once again, consuming as much information as possible, it will be possible to grow in every way, far beyond savings. More than profits, we will be accumulating freedom. Also read: Guide to help your child build a savings