Piggy Bank Principle

For most people going into the work force today there is very little
possibility of being able to enjoy some sort of pension plans as
these plans are becoming more “extinct”.
Such pension plan facilities are no longer a requirement or a
compulsory addition to an individual’s salary deductions.
Therefore without such allowances in place for retirement the
individual would be wise to start a saving plan to accommodate the
retirement phase of his or her life.
Learning to lock in a certain amount as soon as possible towards a
savings plan will allow the individual to plan accordingly, thus
ensuring this said sum is systematically allotted.
Making this a habit that comes naturally will help to make the
entire saving exercise both easy and accepted. It will also allow the
individual to work round other financial commitments to ensure
the savings contributions are not effected in any way.
Besides this the individual will learn to be disciplined and thus
create a comfortable spending habit from a very early on age. The
percentage of the savings should also be increased according to the
job advancements made.