Survival of the Shrewdest: 21st Century Savings

By: Isla Campbell
Submitted: 2008-10-07 18:07:52
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Ever since ancient civilisations first learned to squirrel away food for the winter months many thousands of years ago, humans have been able to plan ahead and prepare for whatever situations they may encounter.

As simple and primitive as it may sound now, the fact that these civilisations were able to build food reserves in preparation for periods of prolonged bad weather or any number of other unforeseen circumstances meant that they could survive for long periods of time until the crisis subsided.

Of course, today this is hardly an issue for most people in the western world, with many supermarkets now open 24 hours a day, 365 days a year, meaning people no longer have to stockpile food for emergencies.

But because food and water are so abundant and readily available they are taken somewhat for granted and people are able to look beyond these survival basics and enjoy luxury items, holidays and other kinds of recreational activities. These things do require money of course, but even those who are sensible enough to live within their means and not get into debt often find that their over-zealous spending habits can leave them short of cash when they need it most.

Of course, nobody can really predict what tomorrow may bring and it’s for this reason that it is wise to follow the example set by our ancestors all those years ago. By setting aside a little money each month, this can provide the necessary breathing space in the event of a financial emergency.

Moreover, it has now become much easier to open a savings account and the advent of the internet era now means that people can start the process of saving from the comfort of their own home.

Whilst savings accounts may once have had a reputation for being quite rigid and difficult to access in times of need, there now exists ‘instant access’ accounts, where there is unlimited access to the funds. And for those who are really seeking to save for the future and build a nest-egg, there are other accounts available that will generally pay higher rates of interest when no withdrawals are made.

But it’s probably fair to say that the main advantage to saving in the 21st century is the amount of control that is afforded to the saver through the internet. They can check their balance and transfer money without ever having to go near a bank. One method of ensuring that at least a little money is saved each month is to set up a standing order between a current account and a savings account, so that a set amount of money is transferred each payday before you have a chance to spend it.

So, whilst we may no longer need to stockpile food for the winter months, it’s clear that the principles and thought-processes behind such planning are still as sound as they were all those years ago. It doesn’t take a lot of effort to look to the future and save just a little money each month. After all, who knows what tomorrow may bring?

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