TALES FROM THE TOP

I used to tell dad that I don’t believe in saving for a rainy day — the rainy day might not come — then what do you do with all those savings?

So all my life, I didn’t save. I wouldn’t save. That word “save” was just not in my vocabulary.

Financial planners who try to convince me to invest in this and that would leave frustrated because I would stubbornly say ‘no.’

My personal monetary policy is simple – if I have it I spend, when I don’t then I wont.

Then the on-going global financial meltdown and a recent Mastercard survey got me thinking…

The survey reveals atleast 87% of respondents from all income brackets would save during these hard times. For precautionary or other reasons.

As far as I can see, I have no reason to save. My job seems stable. And I don’t have any other financial obligations.

But the survey got me worried, if high-income earners are saving for the rainy day, shouldn’t I be saving too?