Comments on: A Penny Saved is Worth More Than a Penny Earned

By: Patrick

Patrick — Tue, 09 Dec 2008 00:52:07 +0000

Paul: Thanks for the compliments! Financial planning and money management skills are topics that need to be taught more often in schools. I wish I would have had a little more exposure when I was in school! Fortunately, I have always been interested so I took it upon myself to learn. This blog is a result of my hobby.

By: Paul

Paul — Mon, 08 Dec 2008 23:08:49 +0000

Outstanding article. I will be using it tomorrow in the class I teach, Life Skills, to 9th graders primarily. Well written and easy to understand and important principles… especially today with the economy.

By: Melinda (Aussie-Girl)

Melinda (Aussie-Girl) — Tue, 15 Apr 2008 00:22:45 +0000

It is our responsibility as good stewards of God’s wonderful world to educate our kids ‘at home’ on the value of savings.
School could complement this education but at home through extra chores, pocket money & donating to others less fortunate are much clearer & inspiring avenues of learning.
I have one saver (7 year old boy)already looking at some shares to increase value of savings.
I have one spender(9 year old girl – yeah no surprises there). However, she gives more than her share of money to Church, Community programs abroad and the like……………

By: Roman

Roman — Thu, 20 Mar 2008 15:04:19 +0000

Time value of money, taxes and death should be the saying, Not Death and taxes. Saving is always better the earning… Unless you earn enought

By: Patrick

Patrick — Wed, 05 Mar 2008 12:20:17 +0000

Lila, you got it! Investing is the only way you will be able to keep pace with inflation. Saving your money in a savings account may keep you close to inflation, but long term it certainly won’t make you any money!

Spending money on the premise you can earn more money is also not a great way to do things because it will take more in earnings to replace the money you just spent.

By: Lila

Lila — Wed, 05 Mar 2008 03:10:43 +0000

But why should I keep my money saved if do to inflation it’s gonna worth less tomorrow then today?

You said it. $1000 dollars today are worth more then tomorrow. If I keep them under my mattress it’s gonna devaluate! I think that the best option is investing it rather then saving it or spending it on coffee

By: FinanceIsPersonal.com

FinanceIsPersonal.com — Sat, 24 Nov 2007 04:54:34 +0000

Amen! The time value of money is the number one financial principle that should be taught to every kid in high-school today. When I have kids, I plan on drilling that into their heads just as much as not touching the stove!

By: Swim Upstream to Wealth

Swim Upstream to Wealth — Wed, 21 Nov 2007 04:30:49 +0000

What amazes me is I know so many people that worry about their return on their money, but they haven’t really saved much. They are hoping a high return will bail them out for not saving, but this is a difficult fight since most folks fail to even match market returns after expenses and taxes.

The most successful folks I know focused on saving, more than returns. Savings are so under-rated today so I think this post is important to drive home the importance.

By: Dividends4Life

Dividends4Life — Mon, 19 Nov 2007 19:25:27 +0000

Great article, I plan to provide a link to it on Friday when I run down the articles I most enjoyed from the Carnival of Personal Finance #127.

Best Wishes,
D4L

By: Amanda

Amanda — Mon, 19 Nov 2007 15:53:10 +0000

Great post. I can’t wait to start using my money to make interest