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 The
Money Management Newsletter: Savings
Savings build character
By David J. Newman
Director, Financial Information Services
Money Management Newsletter - November 1997
Your savings, believe it or not, affect the way you walk, the tone of your voice. In short, your physical well-being and confidence. A person without savings is always running. They must. They must take the first job offered, or nearly so. They sit nervously on life's chairs because any small emergency throws them into the hands of others.
 Without savings, a person must be too grateful. Gratitude is a fine thing in its place, but a constant state of gratitude is a horrible place in which to live.
A person with savings can walk tall. They may appraise opportunities in a relaxed way, have time for judicious estimates and not be rushed by economic necessity.
A person with savings can afford to resign from their job, if their principles so dictate. And for this reason they will never need to do so. A person who can afford to quit is much more useful to their company, and therefore more promotable. They can afford to give their company the benefit of their most candid judgments.
A person always concerned about necessities, such as food and rent, can't
afford to thing in long-range career terms. They must dart to the most immediate
opportunity for ready cash. Without savings, they will spend a lifetime
of darting, dodging.
A person with savings can afford the wonderful privilege of being generous in family or neighborhood emergencies. They can take a level stare into the eyes of any person-friend , stranger, or enemy. It shapes their personality and character.
The ability to save has nothing to do with the size of income. Many high-income
people, who spend it all, are on a treadmill darting through life like minnows.
If you don't need money for college, a home, or retirement, then save for self-confidence. The state of your savings does have a lot to do with how tall you walk. * * *
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