What Is Your Reason to Save This Year? [LEMONADE DAY]
“Do not save what is left after spending; instead spend what is left after saving.” - Warren Buffett
I’m trying really hard to save money right now. Saving is important because it helps you pay for the things you really need or want. For example, I’m saving up to buy a house, and to get married. Weddings can be expensive, so saving now will really help me pay for the big day next summer.
Kids are not saving for the same reasons as me. Maybe you’re working toward a new bike, a smartphone, or a summer camp. Maybe you are even starting to set a little aside for college one day. Whatever your reason, saving now will help you reach your goal that much faster.
If you’re registered for Lemonade Day SouthCoast, you know that saving is a key factor in running a business. It might be the reason you open the business in the first place. Sometimes business owners will save money to re-invest into their own business in the future so they don’t have to borrow the money from anyone else. Other times businesses will save money for things they don’t know they need like an emergency or a rainy day. Lemonade Stand, of course, are most successful on warm sunny days when an ice-cold cup of lemonade is most refreshing.
Saving money with a financial institution like BayCoast Bank, helps you earn money on your money just for keeping it there. That, kids, is called interest. Your money will grow into even more money just for keeping it in the bank. Plus, saving your money in a bank or financial institution helps to keep your money safe and easily accessible.
Protect your money from spending it on something else before you get the chance to put it toward your bigger goal. Even grownups have a hard time with this one, so start forming those good habits now. We know most of you have piggy banks of your own to help you start saving. Show us your piggy banks and share your SAVINGS GOAL with us.
Follow Lemonade Day Southcoast on Facebook for more tips, tricks, and to show everyone what you're doing to help build your small business.
Lemonade Day Southcoast 2020 is made possible by support from our sponsors including BayCoast Bank, Andrews Fruit & Produce, 7-11 Mattapoisett, Auclair’s Market, Care Free Homes, Cape Air, Muffler & Brake Complete Car Care, Mosquito Squad of Southeastern Mass, and Interiors by Paul Chaisson