Thrifty

 

       

 

An inborn trait which plays a huge role in the life of every people, nothing more or less it demands, it must be present at an optimum level, hailing itself as the driving force in every walk of life, without which everything is impossible, giving confidence to even the people who are weary and sad, even the richest person in the world dreams about it again and again - the prime name of income in everyone’s life, we talk about saving it, calling it by many names - Rupee, Dollar, Euro, Riyal, Dinar, Franc, Pound, etc.

 

 

When I have been at school interacting with children time and again insisted on not being a spend thrift and saving money. The ways and means were also explained by the social teacher too. I also shared my experience of saving money and how it helped me in my life.

 

“A rupee saved is a rupee earned” is a famous saying.

 

“Money speaks only one language- if you save me today, I will save you tomorrow”

 

27 schools gave Rs.1 every working day under the “I share” program. Medical expense for every child was provided with kits on account of festivals containing fruits, blankets, bed sheets, etc.,

Financial assistance was given as part of projects based on children’s health care, school infrastructure, public infrastructure constituting of Eco-sanitary toilets/toilets), and other humanitarian help, etc., were arranged for the less-privileged people.

 

“A man is not poor without a rupee but a man is really poor without dreams and ambition”

- Swami Vivekananda

“Anything made into a habit will work out” is a famous quote.

 

 

Every day we do our work as part of a routine plan, similarly, charity work needs to be done regularly because giving or donating for a cause one day in a year will not be in our mind. This cultivates the habit of sharing, what little we have, with the less or underprivileged.

 

“Little drops of water make a mighty ocean”

as the saying goes, this “I share” is a small reach-out that can transform the entire society.

 

On Earning: “Never depend on a single income. Invest to create a second source”

 

On Spending: “If you buy things you do not need, soon you will have to sell things you need”

 

On Savings: “Do not save what is left after spending, but spend what is left after saving” - Warren Buffet

 

This sharing inculcates the act of kindness - of bringing in social services, initiating fellow students, and commitment to society.

A lesser amount of 1 RUPEE can be collected and at the end of every month spent for any cause. This causes concern for people, creating sensitivity and empathy towards the suffering ones.

Students feel that donating a meager amount is a happy feeling, making them blessed also and pushing them to do more. This sharing tells us about the condition of people who are less fortunate and are in dire need of money.

 

It enhances us to have a magnanimous mind to view society and make us aware of the needs to be met and be a better human in society. As a seed of sharing is sown, we have to wait to see if the habit develops.

To some people, a small amount may lead to a huge investment in one year or the long run. This saving makes a student meet his / her demands like purchasing books and stationery items, paying fees, getting study materials, or for any personal use.

The ideology of “saving” becomes strong, if infused from childhood and makes the student know how it benefits him or the family and develop a sense of security not depending on anyone for minimum want of money.

 

 A “spendthrift” can be advocated about the importance of saving and its future benefits (start at home with piggy banks).

 

“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind”

 - T.T. Munger

“Beware of small expenses; a small leak will sink a great ship”                                           -  Benjamin Franklin

 

The habit of saving gives a sense of happiness, pride, and individuality to build self-confidence and contentment.

Students can learn to become “thrifty” - economical with money. Savings is for education, marriage, property, retirement, health issues and to be prepared for unforeseen circumstances. It is our lifesaver.

 

“Saving money isn’t about being able to buy bigger and better things. It’s about being prepared to take care of your family”

 

Saving one rupee per day emphasizes the value of money. We have to spend cautiously and save wisely for a prosperous life.

 

Savings Schemes

State, central, and post offices provide various attractive savings schemes, with adequate interest and assurance.  The same is offered by banks, credit unions, and financial institutions and they promote the idea of saving money by providing gifts for opening a savings account.

 

“Save your money, you are going to need twice as much money in your old age as you think”      - Michael Caine

 

“Its never too early to encourage long-term savings”

 - Ron Lewis

“You must gain control over your money or the lack of it will forever control you”                   - Dave Ramsey

 

Activity

In school, we host workshops by eminent people to educate the public on the importance of savings by financial advisors, and bank managers who advise on how much money can be saved every day by making a budget. The children are educated about savings account and they are explained why savings is good globally.

 

 

“The way to build your savings is by spending less each month”                                                         - Suze Orman

 

“To become Rich, you must value saving more than spending”                                           - George Choy

 

Children are encouraged in making “Piggy Banks” on their own from Classes I - XII and are motivated to develop the habit of saving from childhood. They are also asked to share their experience about how they saved money, how it was beneficial, the feeling they had, and how it can be still taken forward without having an end. At the end of the year, the ‘The BESTPIGGY BANK’ class is awarded, which is a motivating factor for other classes and also brings the competitive spirit of saving more and more.

 

The students learn about the importance of savings in their life, how they can buy things as per their needs, keep themselves out of the financial crisis, and be more independent financially in their lives.

 

It helps to get some of life’s intangibles - ‘the freedom to choose our life course, spending for such expenses, and enjoying financial security, in times of a financial emergency.

 

“Saving must become a priority, not just a thought. Pay yourself first”

 

“Any savings ultimately lead to saving time”
- Karl Marx

 

Now, when I go to school, children come and tell me how they saved money, their plans, and how they spent the money for their use. The feeling of contentment has come for them by forming a budget. I feel elated with the economic attitude of the students.

 

 

 

Testimonial

 

 

 

Hi, I am Mohamed Faizal.S studying B.Tech IT in SRM Institute of Science and Technology. I have been in this school for twelve years. I enjoyed my days at St.Britto’s MHSS where we were not only taught about education and various subjects but also life lessons like love, care,  discipline, respecting elders, motivation etc., but also developing the habit of saving money.

We were taught that saving money is an important regular habit one must learn and implement in their life. Through the various activities based on saving money, I started to learn on different ways of saving money starting with piggy banks and the Kisan Vikas Patra (KVP) savings scheme in post office. This helped me a great deal in spending the money for charity work like educating children in slum area. I had saved money and spent it for relief work during the 2015 floods in Chennai. Also I have learnt to invest my money which I earn through part time jobs in Mutual Funds and Share Market.  All these were possible only with the knowledge of savings in my life which I learnt at St. Britto’s. 

I also tell my fellow mates in the college  to save money, and not be a spend thrift.