Jean Chatzky: Saving for Bigger One$

Posted by admin on Thursday, April 2, 2015

Jean Chatzky Money Quotation saying delayed gratification often means short term frugality for long term extravagance. Jean Chatzky said:
 

 

“By definition, saving — for anything – requires us to not get things now so that we can get bigger ones later” — Jean Chatzky

 

 

This quote from financial expert Jean Chatzky captures the essence of saving and delayed gratification. She explains that saving fundamentally means not spending money on current wants so that one can accumulate funds to afford larger future purchases or needs.

Chatzky’s point is that in order to save for any goal, whether retirement, a home, education or other major expenses, individuals must exercise some restraint over immediate consumption and instead set aside a portion of their income each period.

This delayed spending allows savings to grow over time through interest and compounding returns, ultimately reaching an amount sizable enough to achieve bigger financial objectives later in life.

So the quote succinctly defines saving as a process that requires short-term sacrifice of present spending in exchange for greater long-term financial gains and security.