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Why Saving up for a “Rainy Day” Is a Bad Idea

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Have you ever heard of the idiom “saving up for a rainy day”? This idiom is a popular reason when it comes to setting money aside for future needs. But in reality, this saying is a bad motivation.

Are you saving up for a future expense you’re expecting to put money on? If you need help with funds, checkout Payday Depot. Now, let us tell you why you shouldn’t prepare for a “rainy day”!

You’re Preparing for Negative Goals

What do “rainy days” equate to? Rainy days are connected with unfortunate circumstances, such as having health emergencies, unforeseen accidents, and losing your primary source of income. Preparing for “rainy days” means you’re expecting to incur these sudden expenses. This sounds like you’re saving up to reach negative goals — and that’s what it really is.

Instead of setting aside expenses for future failures, tailor your savings to positive goals, goals you want to achieve. Concentrate on building your wealth and acquire financial assets so you’re prepared when the rainy days come.

Examples of positive financial goals include:

1. Creating Multiple Income Streams

Whether it may be taking a side hustle you’re passionate about or starting to invest, it’s best to not entirely rely on just one income.

2. Asking for a Raise

Aside from adding another source of income, you can negotiate your salary with your company, especially if your skills are vital.

3. Purchasing Asset/s With Accumulating Value

Examples of assets that accumulate wealth are lands and jewelry. Because their value will increase, you can decide to sell them off in the future for a profit.  

You’re Channeling Bad Luck

Manifestation is attracting something tangible to exist in your life by continuously believing it. Although you don’t wish for bad luck, you’re indirectly manifesting it through believing in needing the money for an unfortunate situation someday.

If you’re looking forward to rainy days, the rainy days will come. Instead of thinking: “I need to save up in case I catch a terrible disease,” think of “I’ll save up to ensure I can afford medical bills and keep my good health.” 

You’re Not Using Your Money Properly

When you keep your money sitting in your bank account, your bank is the one profiting off of it. With a meager 0.06% interest in your savings account, you’re just essentially storing your money.

To best use your savings, you can invest them in money market accounts or bonds with regular payouts. However, keep in mind that these investments come with risks. You can choose those protected by the FDIC and those with low risks to ensure you still keep your capital.

Properly planning how to make your money work for you will help you in achieving your goals faster. Don’t just keep your money in storage. Research what conservative investments are available and what you’re comfortable with. 


Don’t save up for the rainy days. Save up to meet your financial goals and never have to worry about these rainy days.

Written by Abhishek

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