SAVING THE SALT OFF YOUR POPCORN
In reading a comment on a recent blog I wrote about gas price savings it brought to mind savings and its importance to home ownership. There are plenty of mortgage loan programs these days where a down payment can be gifted or zero down is required. This does not necessarily mean zero savings is necessary or a good idea.
One of the first questions I get from home buyers is "How much money do I need?" Sometimes the answer is not much, however, the more reserves one has the better.
I believe everyone should set aside savings out of each check. It will get you through a hard time, a home or auto repair, or just comfort you to know you have a slush fund.
The older generation had more in savings because they lived in a world where they either lived through the depression era or saw their parents struggle through it. I recall stories my mom told about how they survived. "Waste not, want not" she often said.
This brings me to the "salt off your popcorn". I have a brother in law who shall not be named here, but he literally saves the salt off his popcorn. When my nephews told me this story I was in disbelief until... I witnessed it. Pop your corn, put it in a paper bag. Use all the salt you want because in the end you'll save the leftover salt for the next bag.
Now that is frugal. That salt does not create a great savings, but there is a big difference in the mentality of the person who saves the salt compared to many who don't have any savings. My brother in law doesn't need to save the salt off his popcorn; it is just his mindset.
At the same time this is the brother in law who one Christmas quietly paid my mom's rent. When she went to pay it she found out it was done. She had no idea who did such a kind deed until much later.
One way to look at this is savings allows you greater choice as to what you do with your money.
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