Saving for the Future
George Fooshee, Homemade, Vol. 11, No. 4, (April 87)
"The wise man saves for the future but the foolish man spends whatever he gets." Since statistics show that the average American consumer has installment payments equal to 17 to 18 percent of his take-home pay, obviously large numbers of persons are overspending. An increase in bankruptcies of over 50% more each year than the previous year, would indicate that such overspending is leading many into financial disasters. And the Bible calls such spenders fools! I don't know many people who deliberately choose to be foolish. When it comes to money, the way to be wise is to be a saver. Here are four simple rules given by the late financier, J. P. Morgan, for saving money. 1. Start early. Today is the day to start your savings program. 2. Save a definite amount. 3. Save regularly and systematically. 3. Employ your savings productively.
