Today is observed as the world thrift day.Is sounds funny when a nation which has more loan defaults goes around and says that savings habit is necessary to ensure a safe future for everyone in the years to come.But then it again makes sense when I look at the financial ups and downs which we as a sprawling democratic nation have come across.It may sound stupid when the leaders of this country admit that they have realised that it took 40 years for them to understand that they should not have been doing what they have been doing till the 90s age.Only then did this realisation reached new heights and the economic growth rate has picked up inspite of several obstacles.Surprisingly, the savings habit has sustained the economy from a complete let down.
Great news is that India has developed this habit to the extend that we have been saving more and more when compared to our peers in the US or the UK.There was a time when Brits would save a seventh of their take home pay.Now this saving habit is almost dead in the Britain.And in our country where people just have no money to actually save with, are still trying to understand the choices about how to save to the maximum level.
Today we have more choices with mobilising money than we ever had.There are credit cards, mobile phones, internet banking and a range of investment options. and surprisingly women are taking an active part in this spending and saving race.
On a personal note, Whether to save or spend is a choice, and always has been.
When times are bad, save, when times are good, saver harder!
Happy Thrift day : ) !!
