In ancient China, there was a traditional method of saving called "xiaofei qian". This method involved setting aside a small amount of money each day for everyday expenses. The practice was common among ordinary people, who would use small clay or wooden containers to save their daily coins. The idea behind xiaofei qian was to encourage people to save as a daily habit. It allowed them to set aside a small amount of money each day, so as to build up a significant amount of savings over time. In times of economic hardship or uncertainty, the savings were life savers and could help a person from financial ruin.
While they were saving, they were also instilling discipline and self-control into their subconscious. They were able to resist the temptation to spend their money frivolously or impulsively. Today, the practice of xiaofei qian is still very much a culture in China, although people have evolved from clays and wooden boxes to modern methods such as mobile apps and online banking, the principles of the practice remain the same thereby encouraging people to save and to promote discipline and self-control.
Leaving china, it is important to incorporate this lifestyle into our routine. Teaching ourselves and our children to save is a good culture, saving will help prepare a person for opportunities as well as uncertainties.
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