WHY SAVING IS NOT FOR EVERYONE

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WHY SAVING IS NOT FOR EVERYONE
WHY SAVING IS NOT FOR EVERYONE

Africa-Press – Eswatini. It is almost peak season and again, I am struck by the overzealous attempts and theory we preach to motivate each other to survive this economic weather.

This is everybody’s dream, at least in a time where even the rich are walking by the stick and only the wealthy are able to survive, because they are protected generations deep in money. While the rest of us try to save each other, we are preaching the gospel of saving and hustling, all as attempts to swim through the storm that may not be soon ending.

Reality

The thin line between theory and action is sometimes compassion. It is the compassion to understand that no matter how ideally fantastic theory may sound, the reality will not be applicable to everyone. Understanding this requires compassion, because when we lack this compassion, we are quick to assume that people are just ‘lazy’, that people do not want to work and that the poor are derailed by their laziness and unwillingness to work, which is far from the truth. It is true that, indeed, we should be saving. It is truer that one stream of income is not enough and that in order to swim by, then one source will be sufficient. As a result of this reality, we are all barrowing this scripture for survival without looking at all the bases and how this is also not realistic for everyone. Something can be good and not be realistic or doable for everyone due to circumstances. For example, to expect someone who is earning E3 000 a month and has two children to save is ridiculous, because they do not have the room to save.

Earn

From the E3 000 they earn, a E1 000 of that money probably goes to rent, electricity and the water bill. Immediately after these expenses there are still the children’s school fees, their clothes, food for the house and money for transport to work for the month and for the kids to get to school. All these expenses are supposed to come from the single E3 000 and will not fully cover these expenses at that. The question is, so where will the savings come from in such a scenario? This person cannot afford to save. The ideas of saving are not concepts for the poor, they are dreams that are unsustainable even when attempted because even the little that the poor will manage to save, is just one emergency back home away from being used and back to square one. The circumstances already have the odds at zero. If a person cannot afford to save, how can they afford to have a side hustle? The capital to start something small in order to bring in more funds becomes just another idea, a hope or even another to do item that pushes to the following month, every month. We are all victims of an inequal society, but some are victims of it more viciously than others and thus, while another can save while hanging by the thread, the next could be committing suicide by saving.

When we preach about savings and starting businesses, we must remember the reality we are living in is not the same and that the system does not do much to offer services that cater for the poor realistically. The question then is, how can we create better opportunities for ourselves, opportunities that allow us to have access to capital and to better paying jobs? More so because, the same institutions that advocate for empowering the poor through capital provision, want what the poor do not have for them to qualify. Is that realistic? That means the only way out of this economic storm is yourself, not any institution that is also in business and will not take the risk with you, it is not the job that underpays you nor is it the idea that you can save your way out. The first step is being compassionate without yourself and whatever approach you take, let it be an affordable way, let it be what works for you in this economic crisis and be okay with things going slowly. Take it one step at a time and do not drown yourself into depression by feeling like you are not doing enough, simply because everyone around you is preaching savings and extra streams of income. Do what you can and let that be enough.

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