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“On savings: A dollar here, a dollar there. Over time, it adds up to two dollars. ” – Jarod Kintz
A lot of times we look at saving money and we think that our $25 or $50 a month contribution won’t amount to much. Or we read articles on how much it will take to live comfortably in retirement and think that we’ll never able to save that much money at our current rate.
True, saving $50 a month won’t add up to much in a year or two. But starting to save consistently and continuing to increase your contributions over time will lead to your savings growing exponentially.
I think a big reason why we don’t feel like saving a small monthly amount is that we live in the “I gotta have it now” culture. Which tells us that we need to do what feels good today . . . not what will make us feel good down the road. But we have to remember that our finances are not built in a day or a week or even a year. They are built over time.
So yes, saving a dollar here and a dollar there will add up to two dollars. But the combination of interest, discipline, and consistency of your saving will allow those dollars to become thousands, if not millions.
How do you view savings? Is it worth it to save money even if it isn’t much or do you save only when you can afford it?