*I was about 12 years old and looking for money when a friend of mine asked me to help him load and put up hay in Palmyra, New York. I didn't know the hay fields would reach 90-100 degrees.
And I certainly didn't expect the haymow to exceed 110 degrees. But it did. And with New York humidity, I felt like I had discovered Hades.
Gratefully my friend, who worked along side me, would occasionally suggest a refreshing drink from an old hand pump well.
He taught me how to prime the pump (use some water and pump the handle several times) so the well would give us cool, refreshing water.
We took turns gulping several cup fulls of water in between loading and unloading hay.
Saving money is a lot like priming a pump.
Prime a pump with water, and much more water comes out.
Save a little money and the result is much more money.
But saving should be regular just like priming a pump demands consistency.
Why does saving money produce more money?
Two reasons.
1. Security. Money stored away gives incredible confidence and peace. Confident and peaceful people make better financial (and relational) decisions.
2. Good deals. Bargains happen with cash. Many cash-rich businesses acquire other businesses for pennies on the dollar because they had money on hand (retained earnings).
It's hard for a seller to resist the lure of a wad of cash. Often they will reduce the price by 25%-50% if they see cash.
Regrettably some people prime the savings pump for a few days or weeks but don't pump long enough to see any true results.
Start saving now even if it is only a few dollars.
Then enjoy a refreshing glass of water in your hot financial haymow.
(Photo courtesy Jud McCranie)
*Original post was entitled Priming The Pump from 2012 archives)
(One time I feinted with heat exhaustion in the hay mow and had to be taken home for the day)
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