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Can you ever save too much?

  

Picture courtesy of: Thinkupthemes

Saw this news heading on the internet of a local Dutch Newspaper ‘De Telegraaf‘, “Wie in de ogen van de belastingdienst te veel spaargeld heeft, moet flink betalen.” Translated: Who in the eyes of the Tax Man saves too much money, must pay dearly. 

Today, there are all soorts of advice being given about savings… From be wise with your saving and pay off your debts first, find ways of hiding it from the Tax Man, to no longer trusting banks… And the list goes on! 

But I have some questions:

  1. Why does the savings account have little value in today’s economy and/or society?
  2. Does it make sense to save for a rainy day any more?
  3. What is considered too much savings?
  4. Are we advising people to clear their debt, to only once again get back into debt due to the lack of savings?
  5. What is today’s definition of saving and is it only considered to be part of a short term Financial Strategy?

Hmmm… My apologies for getting carried away with questions, but when one discusses Personal Finance, Savings is one of the pilars of having a healthy financial out look. 

So now what and where do we go from here? Oeps… Here I go with more questions!

Maybe someone reading this, cares to share their view on the matter?

Helping-Another-Discover-Financial-Independence

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