It’s not easy to save money when you’re barely able to make ends meet, but if you are wise, that’s exactly what you will do. These are bad times financially, and anything could happen to make you lose your job and it can be difficult to find a new one. So it’s best to have a nest egg that you’ve put aside for those proverbial rainy days. And speaking of proverbs, if you thought that only the ones with direct references to money like - A fool and his money are soon parted; Penny wise, pound foolish; A penny saved is a penny earned – offer advice about finance, well, you’re wrong.

Read on to see how other proverbs tell you how to be wise about money as well:

A bird in the hand is worth two in the bush: If you’re rushing to move your money from the safety of a fixed deposit (because of the relatively low interest rate) into the stock market where your potential earnings are high, think again. You may be risking all you have for higher interest rates, especially with most stocks fluctuating badly in the current market scenario. What you have today is much more precious that what you are hoping to get a few months down the road, so don’t risk the former for the latter.

A banker will lend you an umbrella when the sun is shining and ask for it back when it begins to rain: It’s very important to remember this, especially when you’re taking out a loan. You must work on repaying it at the earliest, because the interest adds up pretty fast. Never trust your bank/creditor completely; they may seem to be giving you the best rates, but then, they are in this business to make money. So ensure that you read your terms of service and scan the fine print to avoid paying more than you absolutely have to.

A chain is no stronger than its weakest link: Before making any investments, check them out thoroughly. If you’re staking your money on the reputation and progress of a company, research said concern to see who their partners and affiliates are. If even one of them is weak, you could be risking your hard-earned money. The whole chain is only as strong as the weakest link, so you need to make sure that this is also pretty strong.

A stitch in time saves nine: If you’re prompt when it comes to paying your bills, you’re going to save quite a bit in terms of late fees. Also, instead of paying back just the minimum amount on your credit card bills, pay the entire amount in order to avoid paying interest. All this amounts to extra savings.

Don’t count your chickens before they hatch: Never, ever spend money that you don’t have yet. If you use your credit card unwisely hoping to pay your bills with the amount you’re expecting as an inheritance or from a lottery, you’re pretty stupid. Spend only when you have cold, hard cash, and use your credit card only when it’s absolutely necessary.

When it comes to money, use your brains rather than your heart; only then can you be calculative and save some for the future.

This guest article was written by Adrienne Carlson, who regularly writes on the topic of accredited online university . Adrienne welcomes your comments and question.

4 comments

  1. shubh // August 17, 2009 at 10:41 AM  

    Never invest to your full capacity in the single plan. Always keep cushion to hold up the investments if the market goes down. Banks investment or the property investments are good and safe but returns are not much attractive. One may also consider to invest in foreclosure properties also.

  2. FinanciallySmartServ // August 18, 2009 at 8:47 AM  

    Wonderful Article. These scriptures are true to form and we need to think with our brain as you explain. Saving no matter how small it is and also being wise in our investments dealing will help us to weather this crisis that we are in.

  3. Mijanur // August 24, 2009 at 5:19 AM  

    Your article on this blog is fantastic.
    Well done! I'm a big fan of your blog and be sure to keep up the great work.
    I plan on returning and linking to your site. Sincerely, Alan H. http://www.alanhaft.com
    alanhaft@aol.com

  4. payday loans // September 3, 2009 at 10:01 AM  

    it is better to have some money left for emergency