The importance of saving for a rainy day

Saving for a rainy dayWhen I bought my boat, a Fairline Squadron 55, it cost me about £2,000 in fuel every time I filled it up. I don’t have it anymore. ~Gavin Henson

The former, Welsh rugby star Gavin Henson provided us all with a useful underlying message when he made this comment originally quoted in the British newspaper The Daily Express, albeit a few years ago now.

In making this comment he was talking about the most money he’d blown in one go. I used the word blown rather than spent to emphasise the questionable nature of this expenditure.

When you’re enjoying a little success in your career, and the financial dividend it brings, then it’s easy to think it will all last forever. So you start spending your money on expensive luxuries and enjoying the finer things in life.

That’s fair enough, to a degree, because there’s no point in being successful if you can’t enjoy some of the fruits of your success. That’s what it’s all about, surely?

The problem is that when the big money starts rolling in it can disappear just as quickly as you get it, if you’re not careful. Then, if you can’t sustain your success, before you know it you have nothing at all.

So if you’re lucky enough to earn big money then make sure that you put some of it away for a rainy day. It will rain one day, it always does.

Never underestimate the importance of saving for a rainy day. You need to make sure that you can weather the storm when it comes. It really is a good idea to be prepared.

Enjoy your success of course but never be foolish with money. It’s as important to life as the air we breathe. Make sure you can cope with a change of season.

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