Day 272 – Save for a rainy day

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272/365 (Sept 29, 2011) – The economy has been having a bumpy ride lately. Markets up, then down. Buy a stock that you think has bottomed, and find out you were wrong. That’s the way it goes sometimes. As long as you have enough saved pennies to weather the storm things will be OK. Unfortunately, too few people have saved more than the bare minimum and in general, in North America, we spend far more on frivolous things since we have been brought to believe that we deserve to have it all, and therefore too many actually try to have it all and end up with nothing. I think that, in general, our parent’s generation was better at living within their means, planning for the future, and being realistic about financial abilities.