Saving money helps you to build wealth and become financially independent but it’s not easy to do. There are a lot of things that can tempt you to spend money now – that is why you need to remember the Secret of the Leopard and focus on your goals. Saving should become a habit. Think about the Secret of the Lion, feed yourself first. Saving is your food for the future. You need to put something away for you, every time you receive money. This can be your salary, wages, a gift (like inheritance), or any other money. If you put a small portion of the money you receive away, you will see your money grow and you will be able to achieve your goals.

Let’s look at the different things Sophie could be saving for:

• Emergencies – You can’t always plan for when you need extra money. We have discussed unforeseen events which are events that happen spontaneously, which you have not planned for. Saving can help you deal with these events. By putting money away each month you can have extra money or an emergency fund to use when events like this occur e.g. one of Sophie’s children getting sick.
• To achieve her goals – This might include a deposit for a house or a car or for a short-term goal such as a cellphone, tablet, computer or a holiday.
• The future (retirement) – Sophie knows that everyone must stop working at some point in their lives. Some people think they can rely on a government pension, but this may be far less money than they are used to earning on a monthly basis. Sophie needs to start saving early on so that she will be able to sustain her lifestyle when she can no longer work.
• Education – for herself and for her children.