The Minister for Youth and ICT, last week, advised the youth to embrace the culture of saving to ensure a better future for themselves and the entire country. Many times, people claim money disappears through their fingers. You leave home with a certain amount, only to be surprised that in a few hours nothing is left in your pocket. The problem with most of us – especially the youth – we spend on things that are absolutely unnecessary. As the Minister put it, “Saving is about controlling your expenditures and avoiding spending on unnecessary things. Don’t expect that you will start saving when you get surplus money because you will not get it.” Indeed, it beats logic to find young people who earn small salaries taking loans to buy cars just to drive to work and park. These cars are not assets but liabilities; they will continue to increase expenditure instead of income. A wiser person gets that loan and invests it in something that generates revenue, such as land or constructing rental houses. Delaying gratification and investing for better results in the future is timeless wisdom. It is important for young people to learn to spend after saving, instead of saving after spending. Saving is a habit that will not help create wealth for the individual, but the country as well.
