There is no denying the importance of earning money as well as saving sufficiently in an individual’s life. As much as the concept of ‘YOLO’ (you only live once) appeals to today’s younger generation, applying it all the time can be disastrous for a person’s finances. Many people squander their money without thinking of the consequences, and as a result, aren’t able to live a happy or fulfilling life. 

However, it isn’t easy to save money; a majority of the world’s population lives pay-cheque to pay-cheque and isn’t able to save enough to make way for a better house or improved living standards. Saving money requires people to be mindful of their spending habits, make compromises and take hard decisions. 

Despite the advances made by investment companies and financial institutions, conventional wisdom regarding saving money still works the best. Several brilliant ideas that can help people save money, earn more of it and secure their lives have stood the test of times.

Financial Clichés to Secure your Future

  1. You have to spend money to gain money
  2. Don’t be penny-wise and pound foolish
  3. Money cannot buy you happiness
  4. Money is the means, not the end
  5. Money does not grow on trees
  6. Money is burning a hole in my pocket
  7. Never spend your money before you have earned it
  8. Quick to borrow is slow to pay
  9. Insurance – It’s better to be five years too early, than 5 minutes too late
  10. The quickest way to double your money is to fold it in half and put it in your back pocket
  11. Money is usually attracted, not pursued



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Let’s take a look at some of these financial clichéd suggestions, which might seem extreme, but are extremely useful to cultivate healthy financial habits.

  • You have to spend money to gain money

Saving money will not double your income or fetch you more; it is simply a portion of your income that you have kept aside for future purposes. At best, you can earn a small interest on it. However, if you have been a keen observer of the market for a long time, you might invest your money smartly to get a profitable return on it.

Some people also consider consulting professionals and experts before putting their earnings in trade stocks and share markets so that they make risk-free investments. There are also several easy-to-use and free tools to help people analyze market trends and make the right decision. Other than that, investing in mutual funds can also be considered as a feasible option.

Simply put, you will have to invest your money somewhere – in a savings tool, policy, some form of a financial instrument or even a new venture – for it grow and multiply.

  • Don’t be penny-wise and pound foolish

It makes little sense to haggle with your vegetable vendor for a ‘fair price’ on a daily basis, while also splurging without thinking twice on the latest electronics or fashion. Remember, being frugal isn’t the same as saving wisely. Don’t lose sleep over a few bucks, when you are hemorrhaging money in a loss-making business or on unwise lifestyle choices.

  • Money cannot buy you happiness

So far, this is probably the most common financial cliché that almost everyone has heard at least once in their life. There is indeed no upper limit on how much money you can earn, but there is no guarantee that even if your outdo yourself and have all the riches in the world, you will actually be happy.

However, it is important to remember that while money cannot buy you happiness, you need it to survive. Money helps you take care of your expenses, health, pay your own bills and get you the things you want. So while you definitely need money to live, you need to answer how much of it you really need and how much money you want. 

  • Money is the means, not the end

Everyone dreams of having a nice house, a fancy car, a comfortable retirement and that can only happen if one earns more, spends and saves wisely. Thus, money is a means to a better lifestyle – not an end in itself.

In the race to save money, do not focus on collecting it – but on putting it to the best possible use.

  • Money does not grow on trees

This one is important to remember as it reminds us that there is a limited amount of money that is available to us for spending. More often than not, we’ve heard this phrase roll off of our parents’ tongue whenever we’ve requested sizeable expense.

However, it’s only later in life we realize the importance of these words. Simply put, this advice teaches us to be careful with money and thinking twice before spending it. 

  • Money is burning a hole in my pocket

This is one cliché that you mustn’t follow; so, do not spend your money as soon as you receive it. Schedule your monthly expenses in a way that your finances are evenly spread out throughout all the weeks. This helps you keep a tab of your expenditure and also gives you room to take care of unforeseen exigencies.

Similarly, if you think that you are not good at handling money, confine a trusted member of your family or a friend to help you make better choices.

  • Never spend your money before you have earned it

Will Smith, the famous actor, once said, “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like” and it couldn’t be more accurate. It is important to set up a budget and manage your expenses within its limitations.

Hold yourself accountable to the budget and learn how to manage your money better to help you be better organized. Thus, do not spend your money before you have even earned it.

  • Quick to borrow is slow to pay

If you are looking forward to securing your financial future, it is better to avoid new loans and focus on paying off existing ones as soon as possible. A fixed mortgage is acceptable, but in addition to this, anything extra is sure to cause distress.

Debts in any form are actually a threat to saving money and having a secure financial future because it not only involves giving away a large sum of your earning on regular intervals, they also normalize the concept of living on borrowed money. 

Similarly, use this advice to limit the money you lend to others. If someone in your family or one of your friends is infamous for living in perpetual debt, refrain from lending them money, no matter the amount. 

  • Insurance – It’s better to be five years too early, than 5 minutes too late

Several unforeseen incidents can turn our world upside down – a weather disaster, a medical emergency, burglary or even the loss of a job. All these might throw your finances in disarray and set you back your financial goals by a considerable margin.

However, if you have appropriate insurance, you have a backup to fall back on. Thus, get all your documents in order and pay your premiums on time to make sure you have an active insurance policy at all times. 

  • The quickest way to double your money is to fold it in half and put it in your back pocket

One of the simplest things you can do to save money is to think twice before spending it. While a few years ago people would have told you to put your money back in your pocket, in today’s times, it is probably the best to put it in your bank account. Better yet, start a ‘fixed’ account so that you aren’t even tempted to dig into your savings.

Furthermore, get your kids a piggy bank and teach them the importance of making financially wise by teaching them the importance of money.

  • Money is usually attracted, not pursued

There are situations where you have to take a small but smart risk that promises to fetch you more money than usual. It can be a new business deal, a new job or even a new investment decision. However, taking a risk is sometimes necessary to multiply your savings. This doesn’t mean that you should take high-risk financial decisions without much thought or concern.

Instead, you need to be thorough in your research and must make a wise financial decision. If you use your money in the right opportunity and at the right time, you’ll be setting yourself up for a lifetime of prosperity. 

The above bits of advice are all tried and tested methods to save money and have a safe future where one is able to take care of all the expenses comfortably. The key to successfully saving is acting responsibly, resisting futile expenses and thinking twice before spending money. Do not get too busy saving money that you forget to put it to good use. Read up on the habits of successful people and try to emulate the same in your life. 

That being said, if you are new to it, do not invest money without consulting an expert who can help you make the right investment choice that is aimed at meeting the objectives of your financial goals. Turn to the wisdom of your elders to be wise in money matters and pay heed to what they have to say.

More often than not, the opportunities to save money and increase it are right in front of us, but we aren’t able to identify them timely. Don’t fall into the trap of schemes and policies that offer quick riches and seem too good to be true.



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Lastly, be consistent in your approach and regularly take stock of your goals to make the necessary changes in your saving habits.

Shivam Abrol

Shivam is a passionate content writer with Masters in journalism. A mutiple-award-winning writer, he brings over a decade of experience as a BFSI writer. In fact, he himself is known in his circle for sound financial advice. A writer by day and a reader by night, Shivam enjoys researching and writing on various financial topics, including credit, stock market, crypto, taxes etc. When he is not spending his time penning down an informative article or opinion, he can be found playing with his kids or collecting stamps.

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