Saving for the rainy day is an idiomatic expression which means setting aside money or any other asset which may be needed at a future time.
Most average working-class Filipino do not save for the rainy day. I have been working in different companies and have dealt with employees who come to the HR office asking for help in solving their monetary problems. Most of these employees have double incomes ..... husband and wife both earning or a single person with a second job. Why can these employees not set aside a small amount every payday for their family savings. They buy the latest gadgets, fancy clothes, go to vacations ...... but, when a family member gets sick, or come the time for paying school tuition fees, they go running to other people or use the credit card to solve their financial problems.
These people spend money like there is no tomorrow! But, believe it or not, tomorrow will soon be here with us hoping that it will come with blessings and not with problems.
I will always remember my late mother's wise words "it is not the size of paycheck that will keep you afloat, but the money you save from whatever size of income you have". Saving money and being frugal does not mean being shabby and with nothing on your dinner table. To budget wisely needs commitment.... to set aside some savings and develop the "talent" to distinguish "wants" and "needs". Living within our budget not only needs discipline, but also keeps us stress-free. Keeping up with the Joneses is one of the worst attitude that will burn a hole in our pocket.
Live within a budget ...........
- give 10% of your income to your church or to charity . this is giving back a part of your money to where all these came from.
- set aside money for your needs (house, food, clothing, education)
- save for your rainy day
This might seem hard at first, but, in time you will get used to this and everything will come along smoothly. Start this practice today and I hope you will not be like this lady ..........