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Despite it being a vital aspect of life, some of us find it harsh when told to create a culture of saving for the future. And this has brought me to say that during those formative years it would be of utmost importance for parents to instill knowledge on ways of saving. I thank my parents for where I am now financially; I can still hear my mother's voice not to be wasteful. Even when it came to serving food, she insisted for one to serve what you know you can finish. In these tough economic times and the constant fluctuating inflation globally it would suicidal if parents don't regard teaching their children on how to save even if it just means getting them a piggy bank. Maybe you would call my father old school and a disciplinarian but I thank him for the efforts he took to make sure his children adopted a habit of saving. I came to realize that nothing in life is got easy or overnight but one has to work on achieving some sort to success. I have to believe in small beginnings and building on them not forgetting to follow up until you finish. It's from my parents' effort I learnt the saving culture while still in my formative years, as my father found it a character flaw not planning for the future. I remember it was never an issue when it came to paying for my college fees as my parents planned in advance how to cater for my education. Thanks to them now as am now starting my own family and my wife expecting our first born, am giving a lot of thought how to feed, house, cloth and educate my children. Before when one would expect the government to chip in and help educate our children, but with the economic hardships governments are finding that taxing. The ability to sustain a family and the challenges that lie ahead in raising a family, educating the children or just starting a business venture will highly depend on how one prepares for the future and the challenges life brings. With the current economic crisis ravaging the United States and virtually the rest of the world it would be prudent that one spends less while saving and not forgetting to invest. Some of the fundamental aspects to consider would be to have credible insurance policies, opening a fixed account in a strong and stable bank, buying stocks of profitable companies and for those with enough funds can look at investing in real estate or consider offshore investments. Families should start saving and investing now by putting low risks investments. For me it's a call for families to diligently budget and come up with solid money management plans of where and how to invest. The reason for dwelling on families it's because they are the backbone of any society and in order to affect the world effectively would be to start with the family unit. History has proved it's safer to start saving early, as the adage goes "the earlier the better." Stephen is an Business Organizing Expert . He researches and studies on big and small business strategies . Website:- Business Management Solutions for efficient business operations.
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