Money Magnet Tip: It's what you Save, not what you Earn that Matters

Labels: Money Saving Tips, Tips on Monday, July 13, 2009 at July 13, 2009

I am a Money Magnet! We are Money Magnets!

After graduation, everyone tends to get busy with work and their own lives that bonding sessions with college friends are no longer as frequent as they used to be. More so now that looking for greener pastures and working overseas has become a trend or should I say necessity(?). In a rare moment though, last week I was able to meet up with 2 of my college friends. Unfortunately though, both friends are having problems with their employment. Both have been working in the electronic industry, and if you have been following the news, exports have been on a record low this year, thus causing for their companies to consider shutting down. While one friend has already been retrenched, the other one is still with his company but the future seems bleak. Their company is already offering separation packages. Continue reading to find out what happened to my friends.

In the midst of our discussion on whether our friend should take his separation package or whether he should transfer to a higher paying company or not, one friend admonished that "It is not what you earn but what you save that matters."

Quite true. No matter how much you earn, if you don't know how to save then you will never be wealthy. But of course, this can hold true only for those who have gone beyond what Abraham Maslow would refer to as physiological needs ( food, water, shelter, air, etc.) in his hierarchy of needs.

For my friend, how much salary he was receiving didn't matter as long as he was satisfied with what he was receiving and as long as it was more than enough to provide for his basic needs. In the end, he said he was still able to save because of his habit to save. As it turns out, losing his job might have been for the better. Using what he has saved over the years, he is currently looking at setting up his own business.

I wish him as I wish all of you Money Magnets out there all the best in the world!

Make saving a habit and you will be wealthy!

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3 comments:

freeze said,

I have to agree, at the end of the day, it's what you save that matters. :D

Great blog! Just happened to looked into this now, no wonder your traffic has greatly improved :D

Keep it up and don't forget to treat us. hehe

on August 14, 2009 at 12:45 AM
Money Magnets said,

Thanks freeze ^^

on August 14, 2009 at 4:13 PM
Every Peso Counts said,

Hi,

Thanks for visiting my blog. You can get the best of both worlds. Combine earning and saving. Quality and Quantity.

on September 22, 2010 at 9:37 PM