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“A penny saved is a penny earned.”– George Herbert
Did you know as friends we had a 30-minute discussion to appreciate what this quote meant? I will just summarise it for you. In simple terms, the quote means that the money you save is as good, valuable, or even equal to what you earn.
So, earning and saving are almost equal sides of the same coin. It is argued that it is easier to save more than earn more. The point here is that being mindful and reducing spending on necessary expenses is a strong form of earning. Ultimately, managing your finances well creates wealth over time through the philosophy of this quote. You, therefore, need both earning and saving coupled with investing what you have saved to improve your financial life.
