Kokomo Tribune; Kokomo, Indiana

October 5, 2013

RAY DAY: Keeping a little in reserve

Kokomo Tribune

---- — I guess I opened up a subject that opened up some eyes: A reader asked me about ways to live comfortably and how to save.

As I have stated before, this is my opinion only, so read with an open mind. Many times we live our lives with the results not being beneficial to us or to others around us. Many spend money foolishly, and before their next check comes in, they are broke. Many will look at spending as a way of enjoyment and not as a way of putting back for that rainy day when it is vital to have that extra dollar or two.

I guess my way of spending comes from the old days, when you had barely enough to get by. You had to reach out to someone and help.

My memories of Mom giving that extra piece of cake or chicken to one of us, instead of eating it herself, gives me the strength to say no to the many things out there that I would like to have but really do not need. That’s who I am.

If you ask me what I paid out in bills for the month, I could tell you just by looking at my budget sheet.

No, I am not cheap. I like to say that I am thrifty. And I won’t allow myself to go away from my budgeting and let another firm tell me how to spend or invest my money.

Having lost all my stock in the steel mill, I am wary of letting others manage my money, what there is of it. Find a reliable bank and keep a close check on the everyday use of your funds.

Dad always said you don’t keep your money in someone else’s pockets. Mom always said you save what you can so that in case it is needed, it is there to use.

There wasn’t too much money to work with back in the days of old, but many people back then remember the stock market crash. Even today, they are wary of these so-called get-rich schemes, where you may profit big windfalls of money through risky investments.

Many insurance companies will sell you insurance on your life so that your loved ones will be able to live through the days after you’re called Home. Do you know that as you reach old age, your rate gets higher? After a certain age, you don’t even have that life insurance, or it has dropped in worth.

What you need to do is check into these things before investing in them. Life will seem to get worse because of those who will try to bilk you of your savings.

Believe it or not, there are those out there who look for a new widow or widower, and smooth talk them into getting married so they can milk the savings down to nothing.

I know from living back in the old days that you have to be ready to do without sometimes so that you might save a little at a time. Reminds me of when Mom would put her potatoes on the table to peel, but she always left one not peeled. She said it was her way of saving something for the next day.

She always kept a handkerchief fastened with a safety pin on her dress pocket, where she kept some change. She said she would never be broke doing that.

I look back and then forward, so that I know where I have been and where I am going.

Ray “Uncle Ray” Day is a weekly contributor to the Kokomo Tribune. Contact him at uncleray@earthlink.net.