Habit of savings to enrich life

Dhaka,  Thu,  21 September 2017
Published : 08 Jul 2017, 20:28:32
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Habit of savings to enrich life

Saving money plays an important role in our life in achieving financial independence. I was going through an interesting book entitled "The richest man in Babylon". It was about achieving financial independence through a meticulous habit of saving 10 per cent from what we earn and save it for the future. We should encourage people to form the habit of saving as the overall personal savings in our country is not encouraging compared to other developing countries. Gross domestic savings in our country is merely 10 per cent whereas it is 22 per cent in India, 18 per cent in Sri Lanka and 31 per cent in Indonesia. Effective habit of saving is known as "pay yourself first". The US research scientist Thronton T Munger has rightly said that the habit of saving is itself an education as it fosters every virtue, teaches self-denial, cultivates the sense of order, trains forethought and broadens the mind. 

Mohammed Sohel Hara

Bonosree, Dhaka

sohelhara@hotmail.com
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