Written by 3:29 pm Everyday Life, Life English • 36 Comments

The correlation of Saving – Spending- Earning

If you have parents of the Baby Boomer Generation, you actually get used to the mindset of Saving. Saving can be the most haunting word they have been carrying in most of their lives. It is easy to find the motto – Earn as much as you can, Save most of your earnings, and Invest in the necessities only. They believe that saving is one of the good characteristics to keep and nourish over time. They confidently pass it down to their children’s generation and grandchildren’s generation. However, as time passes, some ideas and concepts become obsolete and end up falling into disuse. It explains why generation gaps have been manifesting themselves recently. Saving, Spending, Earning, which one can fit the times?

When you look up the word Save in a dictionary, you can find its denotative meaning as written below:

Save (v): To keep something for use in the future

Then, you can combine  “Save” with other words to complete a phrase. Here are the most common results coming up in your mind

Save money 

Save time

and Save costs

Have you ever challenged yourself to be as much awkward as possible by adding more ideas to the commonly seen phrases above? Have you ever thought about:

Saving entertainment money?

Saving relaxation time?

and Saving additional and extra costs?

Going along with Saving is Spending, what should you spend? There is a quote by Warren Buffett – Do not save what is left after spending, but spend what is left after saving. To my way of thinking, the focus is not on Saving or Spending, the ultimate key here is what you save and what you spend. From my chaotic initial thoughts, I kept calm and rearranged all of them into a correlation model.

What I am trying to deliver is that we have been being molded for years, and we do not have any needs to escape from our cocoons and learn to think out of the box. If we just follow the old thinking without questioning, we easily fall into the trap of oral traditions and truths. We are usually told to save more, spend less, and earn more, but we do not know what we are supposed to save, spend, and earn.  From that, I thought harder and harder to find out the other half of those words.

Saving, Spending, and Earning, by their nature, are good words, but they should be paired with the right “partners” to create great concepts or lessons for life. To make things meaningful to myself, I tried to be as much awkward as possible. Then, I focused on thinking backward, this method is known as Inverted Thinking.

I learned that people around me favor  Having a Fun Time, tend to spend more money to entertain themselves, and even pay more for things like parties, gifts, clothes, and even things they already had with the purpose of satisfying their desires no more or less.

Having a fun time or Relaxation Time, Money to entertain yourself or Entertainment Money, and Buying things just to satisfy your desires or Additional or Extra Costs are the must-save items in our lives. They should give way to Investable Money, Quality Time, and Interest-generated Costs.

Let’s think that your life is a project and you have got a certain budget of time & money. What are you going to do?

I bet that you want to earn achievements. Is it right?  If yes, you are meant to learn how to use your time as Quality Time, use your money as Investable Money, and just pay the costs which are Interest-generated Costs. Once you are well aware of what you are spending, using, and paying, you will be able to earn what you are longing for.

Now, look at the Correlation Model of Saving, Spending, and Earning

According to the model, Saving, Spending, and Earning should work closely together and form a firm correlation. Each item will well control the others. When you can master juggling with these 3 elements in your life, you can fit the times no matter what the world will be.

Remember that your story is not about Saving, Spending, or Earning, it is about skillfully playing with them at the same time!

(A Gift for My Eldest Sister)

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