Some people treat them as insignificant; others value them. What is only a trickle today can become a flood tomorrow. The question is “what are you doing with the little savings that come your way?”
Have you ever noticed someone who you regard as being well-off but still clips discount coupons to use at the stores? It is not for the sake of the 50pence that they would save on that purchase but for the sake of how many of such ’50pence’ they could save and invest over their lifetime. This is one of the reasons they became ‘well-off’ in the first place.
The rich people that I know don’t think twice about shopping at bargain
Have you also noticed that it is those who cannot really afford to buy expensive clothes that wear them? They are only thinking about now and not in the long term. Looking cool is more important to them than saving their change
A Household Assets Survey (HAS) by the Office of National Statistics (ONS) in 2015 found out that nearly all the wealth of the poorest 10% of British households was accounted for by low-valued goods such as furniture and clothes. On the other hand, the wealthiest 10% held 42% of their wealth in pension rights, 32% in property, 20% in saving and just 6% in goods.
The wealthy didn’t get their wealth in one day, they learned the power of the change; the coins, the little or the insignificant. If you are going to become even debt-free, you need to learn the same thing. If you don’t respect the power of the penny, you will not experience the power of the pound.
There is power in the change, in the little – don’t discount it.Niyi Adeoshun
Money Management Coach
Author of "The Price of Financial Freedom"
(3 Essential Steps for Breaking the Cycle of Debt)