Pay Loan

Everything changes with time. People's views about finance and savings account are no exception.

Then we do not buy something if we do not have money. If it is wanted money was saved for that.

Gone are those good old golden days when savings account was respected, valued and treasured.

In my childhood years my parents made it a point that I save a part of my money in my savings account. A part of money which I earned from my after school hours' part time works usually went to my savings account. Needless to say I did not like this. I wanted very much spend all the money I earned. So once I lied about my earnings to my parents. But later I was caught. And my parents made all my earnings that week to go to my savings account.

The money I got during my birthdays as gifts also invariably went to my savings account.

When I finished my high school and about to go to college my parents handed over to me the passbook of my savings account. I was really surprised to see the amount of money I had then.

All through my school years I had earned some handsome money. But for the compulsory saving I would have spent every penny of them. Instead I was able to go to college in a car bought from my own money.

Today even the parents do not value saving money for future let alone the children. People are valued by their credit limit. The Higher the credit limit the better.

Even the banks encourage credit purchasing. In olden days people preferred buying by cash payment than buying things on credit. Such people would have had a poor credit score by today's standards.

Saving money in a savings account for future use was very much important some decades back. People of those times were hesitant to borrowing money. Instead they saved and waited for acquiring their wants till they saved enough money for that. So they treasured and valued whatever they got.

I still have the passbook of my childhood savings account. Now when I look back the money I saved then might not be a fortune. But the habit of saving had certainly positively affected my way of dealing with the finance matters.

Even now I have an active savings account and I never fail to put money in to it after every pay check.