SAVING FOR A RAINY DAY

YOU DEFINE RESPONSIBILITY AS 'SAVING FOR A RAINY DAY'. WHAT PERCENTAGE OF AMERICANS UNDERSTAND THIS CONCEPT MUCH LESS INTERNALIZE IT? WHAT LIFESTYLE OPTIONS AWAIT WAGE EARNERS WHETHER ON A LOW, MEDIUM OR HIGH INCOME?

HUNT FOR BARGAINS SO THAT ONE CAN SURVIVE AND SPEND EVERY CENT BUT NO MORE.

DON'T HUNT FOR BARGAINS BUT SPEND EVERY CENT AND NO MORE.
DON'T HUNT FOR BARGAINS BUT SPEND EVERY CENT AND MORE IF CREDIT IS AVAILABLE.

HUNT FOR BARGAINS SO AS TO ADDITIONALLY SPLURGE ON LUXURIES AND EXPENSIVE GOODS AND SERVICES, BUT SPEND EVERY CENT AND NO MORE.

HUNT FOR BARGAINS AND SPLURGE ON LUXURIES AND EXPENSIVE GOODS AND SERVICES AND MORE IF CREDIT IS AVAILABLE, BUT SPEND EVERY CENT.
SPLURGE ON WHATEVER ONE LIKES AND WANTS, AND SPEND EVERY CENT AND MORE BASED ON CREDIT.

SPLURGE ON OVER-THE-TOP LUXURY GOODS AND SERVICES IF CREDIT IS AVAILABLE OR ON THE ANTICIPATION OF THE MEANS OF PAYMENT LATER, BUT SPEND EVERY CENT.

THE COMMON DENOMINATOR IN THE ABOVE OPTIONS (HAVE I FORGOT ANY?)IS SPENDING EVERY CENT. SAVINGS, OF COURSE, AND POSSIBLY INVESTING, WOULD REQUIRE THAT SOME SPENDING BE CURTAILED. IF INCOME WERE BUDGETED TO INCLUDE SAVINGS FOR A RAINY DAY, COMMON SENSE WOULD DICTATE THAT BARGAINS WOULD NEED TO BE HUNTED DOWN, LUXURIES WOULD SOMETIMES HAVE TO BE FORGONE AND LONG-TERM DEBTS WOULD BE LIMITED TO THOSE THAT COULD BE JUSTIFIED, SUCH AS A HOME MORTGAGE. CASH WOULD BE THE CURRENCY OF CHOICE BECAUSE IN ORDER TO PUT ASIDE REGULAR SAVINGS, ONE COULD NOT LIVE BEYOND ONE'S MEANS.

SINCE THE DAWN OF SOCIAL SECURITY, HOWEVER, AMERICANS HAVE JUSTIFIED A ZERO TOLERANCE FOR SAVING THROUGH SACRIFICE. WHY? AUTOMATIC WITHDRAWLS FROM PAYCHECKS ARE PUT ASIDE FOR RETIREMENT. A PENSION FUND FROM SOME EMPLOYERS IS HELD IN ABEYANCE. VOLUNTARY CONTRIBUTIONS TO A 401K ARE AVAILABLE.
A REALITY CHECK SHOWS THAT 4 OUT OF 10 AMERICANS HAVE NO EMERGENCY NEST EGG THAT CAN BE CRACKED OPEN BEFORE RETIREMENT, NO SAVINGS FOR A RAINY DAY.