A tradition worth continuing

Mar 11, 2025 Features / Columnists, Peeping Tom

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Peeping Tom…

Kaieteur News- It is a wonderful thing to be reminded of a tradition, especially when that tradition is steeped in good sense and timeless wisdom. The other day, I read of a mother who, upon receiving the newborn cash grant from the government, announced that she will open a bank account for her child.

This intention of a mother pleased my heart. It reminded me of a time when this was the natural course of action—when parents, even those of humble means, would take their first spare dollar and tuck it away for their child’s future. Saving, once upon a time, was second nature. A piggy bank sat on every child’s dresser, a modest trust in the slow magic of accumulation. Pennies turned to dimes, dimes to dollars, and by the time a child reached adulthood, there was something to count on. It was not merely about the money; it was about the lesson, the discipline, and the faith in a future that required preparation. Somewhere along the way, this habit—this quiet act of foresight—seems to have faded.

Perhaps the era of easy credit and hire purchase schemes has dulled the old wisdom. Or perhaps, as some argue, the extremely low interest rates on saving accounts have rendered saving itself a futile exercise. Why set aside a dollar today, they say, when inflation will erode its worth by tomorrow? Why save when the returns are meager? There is a kind of logic to this, but it is the logic of impatience, not of prudence. The truth is that saving has never been about chasing high returns; it has always been about security, about building a cushion between one’s self and the uncertainties of life. It is about cultivating a habit that teaches discipline and patience. It is about knowing that when a child reaches adulthood, there is something—however small—to set them off on the right foot.

The idea of compounding is one of nature’s finest tricks. A dollar set aside today, gathers quiet strength over time- much like a tree that grows imperceptibly until one day it offers shade. Even in an era of low interest rates, savings accumulate—not just in monetary terms, but in the peace of mind they bring. Money, once saved, has a way of staying put. It does not evaporate in impulse purchases or dissolve into the ether of everyday expenses. There is, too, the matter of habit. A child raised in a home where saving is a tradition will come to understand its value instinctively. The first deposit may be made by a mother or father, but the child, growing older, will learn to make deposits of their own. They will come to recognize the slow satisfaction of watching a balance grow, the quiet dignity of financial self-sufficiency. A child who learns to save becomes an adult who understands the weight and worth of money, who is less likely to be enslaved by debt and reckless spending.

It is for this reason that I encourage new mothers to follow the example of that wise woman in the newspaper. Take the newborn cash grant and use it as a foundation for your child’s future. Open an account- however modest the initial sum may be. Make it a tradition to deposit something each month, even if it is only a small amount. Over the years, these small acts of foresight will build into something significant. Some may argue that in a world of economic uncertainty, saving feels like an outdated concept. The cost of living rises, inflation erodes value, and the temptation to spend every dollar is ever-present. But it is precisely in such times that saving becomes even more critical. It is not the size of the savings that matters; it is the habit itself. A nest egg, no matter how small, is a sign of prudence, a hedge against hardship, a gift to the future.

Savings also instill a certain peace of mind. There is comfort in knowing that, somewhere, a reserve exists—a sum untouched, waiting for the right moment. It may be used for education, for a down-payment on a first home, for a business venture, or for an unforeseen emergency. Whatever the case, it is there, and it makes a difference.

Traditions often fade in the face of modern conveniences, but some are worth preserving. The act of saving is one such tradition. It is not merely an economic practice; it is a philosophy, a mindset that values patience over instant gratification, foresight over short-term pleasure. To the new mothers, I say: Start small, but start. Open the account. Make the deposits. Teach your children, by example, the quiet power of financial security. Years from now, when they stand on the threshold of adulthood, they will thank you for it. And so will the generations that follow.

(A tradition worth continuing)

(The views expressed in this article are those of the author and do not necessarily reflect the opinions of this newspaper.)

 

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• extremely low interest, Government, newborn cash grant, old wisdom, Peeping Tom

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