Savings Culture & The Future

It’s a sunny afternoon and you are on school runs, picking your children from school at the end of their academic day. As you head off after all safety checks, your mind is prepared for the exciting ride and multitude of questions that are bound to come from the backseat. Then with a sweet voice, she asks “Mummy what can make my future better?”.


Now that is a question! You babble about having a good education and getting good grades but pause when you say the family must save for the future, knowing you have faltered in this regard. The average individual living from pay cheque to pay cheque has little or nothing left to save after meeting his basic needs. Most people don’t save because they don’t have enough to save. They tell themselves, “I’ll save when the next promotion comes or that deal comes through”.

The truth is, most people will never have enough to start saving. It is therefore important to imbibe a culture of saving. A good & solid saving habit goes hand in hand with building a savings culture. Regardless of your income, it is important to train yourself to save something each pay day. Then, over time you can increase your savings percentage.


A savings culture means to discipline yourself into saving money regularly. Over time, your personal savings culture will lead to accumulated wealth. To cultivate a savings culture, you must imbibe consistent saving habits into your lifestyle. These practices should be so engrained into how you move through life, that they become second nature to you.


To make savings more natural, it is important you do it consistently. Do it at home, at work, or wherever & whenever possible. If you can, get other people involved, especially in your household where you have more control of the finances. Saving is not only about money management but also prioritising between wants and needs. Money saved helps you create an emergency fund available for unexpected needs that can crop up in the future. Saving also gives you peace of mind and the confidence to tackle futuristic projects, knowing that you have a financial fallback plan. It also teaches one patience, persistence and the value of short-term decisions that pave the way for long term goals and dreams. Now is the best time to start developing a savings culture. It is also important to introduce the concept to your children and wards at an early stage so they can nurture the habit early.


Come talk to us at FirstBank or visit our website We have a tailor-made savings package that will set you on the path to financial freedom.



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