Lions are social wild cats. They live in family groups called prides which are made up of many females and only a few males and one alpha male.
Lions hunt in groups but the male leader always eats first and alone. This is so that he has the energy needed to always be prepared for unforeseen danger that might threaten his pride. All the other members of the pride need to wait for him to finish eating before they can feed. The leader of the pride is responsible for the safety and future of the rest of his family. He needs to be strong because the rest of the pride expects him to be ready to protect them in times of danger.
Lions are similar to many families in Zimbabwe and their behavior can be adopted to how we manage our money in terms of saving. For example, when you receive your income/salary, you should save some of it before you spend it on expenses. In this way you are feeding the leader of your pride, (you) first, ensuring that you stay financially strong and healthy. This will ensure that there is an emergency fund at you and your family’s disposal, should you need it.
Although most people understand that they need to save, they tend to only save a small amount at the end of the month, and they do so only after they have paid all their expenses and debts. This often fails as there are always unforeseen expenses.
The Secret of the Lion teaches us to “save first” and set a fixed amount aside each month. By paying yourself first, you are securing you and your family’s future.
The amount that you save will depend on what you can afford. Over time, it should increase to 10% of your total salary. This amount does not include what you save for retirement or other specific goals. This saving is for emergencies, such as:
Saving isn’t only for emergencies. You also save to ensure a better life for yourself and your family in the future. Think about tomorrow and what you would like to save for – these are your targeted savings.
They could be for your retirement, your child’s education, a house, a new car or a holiday. You are never too young or too old to start saving, so develop a savings habit today to ensure a better future tomorrow. Depending on your situation, paying more than what is required on your monthly credit instalments can be considered as another form of saving and is encouraged. This helps reduce the interest you are charged on your outstanding balance and by doing this, you are also paying yourself first as you save on interest.