Money Matters Theme: Rule Number 3

Rule Number 3

Save a minimum of 10% from your income (Pay yourself first)

Verse

Proverbs 21:20 “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.”

It is so easy to spend money, especially after you get paid, but I have learned it is best to automatically deduct from your paycheck at least a certain amount for savings. A foolish man devours it right after he gets it. I had a friend who I felt so badly for and tried to help him yet he refused and his custom was that every payday he’d go and cash his check and spend over half of it on one night in the bar. Sometimes he made bad choices and being under the influence of alcohol, he had a few nights when he lost it all.

A story

Mr. Senzo Ngcobo told a story about his college friend, Siyabonga Victor Mkhize. When Siyabonga was in Grade 8, his father passed on. His mother was not working, as a result, she could not pay for his schooling. She advised him to quit school. Luckily, Siyabonga had a part-time job as a gardener and a packer at Checkers Supermarket during weekends. He never wasted his money. He saved most of it. He used his savings to fund his schooling and later his college tuition fees. Today he is married, has his own house, is a school principal, and holds a Masters Degree in Education.

What would have happened to Siyabonga, had he not saved his money while his father was alive? He is a good example of an earner and a saver.

What about you? Are saving? Your parents will not live forever, so start saving now.