T.T. Munger – The Habit of Saving
“The habit of saving is itself an education; if fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” – T.T. Munger
We live in a very consumerist world. And in this consumerist world, it is very easy to fall into the habit of overspending. When that new pair of shoes in just a single click away, temptation is a bit too close for comfort. But it is for this very reason that among the most effective methods to create self-discipline (i.e. self-denial) is to save. We put off that quick blip of happiness to create something greater in the long run. This forces us to think about our future and so we train our forethought. This forethought helps us organize and plan our lives giving us a sense of order. Essentially, the simple practice of setting aside any amount of money has the potential to enrich our lives in ways that many of us would not have expected. So next to you get a paycheck, don’t forget the importance of saving.