The Benefits Of Saving

I had to give this speech to my class tonight, and thought I would post it.  It’s the very first outline I have ever organized! Usually I just write it as I feel it, when I feel it, and then organize it later.  I did get an A+ for my presentation so I am excited. I read a little bit more than I wanted to but overall I did great!

My next speech will be a ceremonial speech, and I think I am going to do that speech as if I have just become debt free.  That will certainly be something to celebrate!  Enjoy!


The Benefits Of Saving

Specific Purpose Statement: I would like to inform you of the negative effects that financial stress can cause and what you can do to prevent it.

Central Idea: Although it is more fun to get what you want now, saving money to achieve your goals as an alternative, provides therapeutic benefits that can give you more time to enjoy life, and less time loathing it.


I. Imagine this– We’re newly married, and just moved into our very first house.

A. We had a plumbing nightmare occur that ended up costing us over $2,000, not to mention they dug up our front yard.

II. With absolutely no savings in sight, we ended up borrowing the money to pay the plumber.

A. I can still remember just how stressed we were at the time.

III. One thing that we have learned since then is how valuable having a savings account is, to cushion the blow when life happens.

A. If you are breathing right now then you know that life happens at the most inconvenient time, so you must be prepared.

B. As a college student, I am sure you can relate to how painful it is when it’s time to pay tuition or buy those expensive books, and you have to borrow money or spend the light bill to do it.

Transition: (Can you remember a moment in your life when an unexpected event caused you financial stress?  I bet you can, and I bet you remember thinking to yourself- how in the world am I going to deal with this?) 


I. 7 out of 10 people say they are “very stressed” about money.

A.  Financial stress can negatively affect your health in many ways.

1. It can cause unhealthy coping behaviors in order to deal with anxiety.

a. Smoking, drinking, and overeating are just a few coping mechanisms.

2.  It can leave you with less money to properly take care of yourself.

a. People who are under stress tend to cut corners in areas such as health care.

3.  Financial stress can lead to problems sleeping.

4.  Unhealthy emotions can also be triggered by stress related to money.

B.  Financial stress causes marital problems which can lead to divorce.

1.  According to, financial problems are listed as one of the most common causes for divorce.

Transition:  (Now that you understand the problems associated with financial stress, let’s look at how the benefits of saving money can allow you to breathe a little easier.)

II. Financial preparation by saving money can not only reduce stress, but it can also ensure a better quality of life.

A.  When you have an emergency fund to cover unexpected emergencies, you can easily cover the expenses without the added stress of where the money will come from.

1. Money magazine reports that 78% of us will have a major negative event in a given ten-year period.

2.  49% of Americans could cover less than one month’s expenses if they lost their income.

B.  By planning for your retirement and saving early on, instead of relying on the bankrupt promises of Social Security, you can experience a greater quality of life.

1.  Nearly two-thirds of retirees count on Social Security for most of their retirement income.

2. 39% of Americans aren’t saving for retirement!

C.  By saving for big purchases instead of putting them on credit, you can avoid debt, and use the money saved in interest to add to your savings account.

1.  Using debt for purchases ensures that you will pay more than if you used cash.

a. A Dun and Bradstreet study found that when you use plastic instead of cash, you spend 12-18% more because spending cash hurts.

b. You also pay more over time in the form of interest, for the privilege to buy something you do not have the money for.

D.  One of my favorite benefits that come from saving money is the opportunity you will have to give in order to help others.

1.  If you have 3/6 months of expenses saved up, no debt in sight, and continue to save for retirement, giving someone a gift instead of a loan is actually a possibility.

Transition:  (Be sure to keep this in mind the next time you’re out, and on impulse decide you “need” some new stuff.) 


I.  Saving money is a priority and when you have a security blanket, because you committed to also having a plan, you’ll have no reason to be stressed out about money.

II. Retire with financial peace, and live out your ending years with dignity, and without constraint.

III. Your new plan to save money can change your life!

IV. You may be familiar with the old story about the ant and the grasshopper.

A.  The question is do you want to be the ant, or the grasshopper?

1.  The ant prepares first, and eventually enjoys his rewards.

2.  The grasshopper lives for today and has lots of fun, but when the snow comes he realizes his mistake.

B.  Either way, you will have to be both, so why not make the decision to be the ant now, so later you can be the grasshopper?

1. Nobody wants to reach retirement and deal with the stress of having to work like an ant!


  1. Crouch, John. “What Are The Most Common Causes Of Divorce”. 2005. Jun. 26, 2009. <>
  2. Ramsey, Dave. Total Money Makeover.  Nashville, TN: Thomas Nelson, 2007.
  3. Ramsey, Dave. Dave Ramsey’s Financial Peace University Workbook. Brentwood, TN: The Lampo Group, Inc., 2007.
  4. Scott, Elizabeth. “Financial Stress – How It Affects You and What You Can Do”. Oct. 17, 2008. Jun. 27, 2009.  <>

About Brad Chaffee

7 Responses to “The Benefits Of Saving”

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  1. Chad says:

    So where do you get this “Saved Money” your talking about? lol

  2. Emilie in Minneapolis says:

    To Chad:

    You get the money when you stop buying “stuff” and start buying “peace”

    You start small, in lots of places. Do you NEED the muffin, the $5 shampoo instead of the 99 cents stuff, the empty calories food, the premium breakfast cereal, the household chemical if vinegar will do as well, the third pair of running shoes, the store new shirt (try Goodwill, Unique, or Savers’ first)

  3. Chad says:

    To Emilie in Minneapolis:

    Thanks for the advice. I actually read the book. It’s called “Stop Buying Stuff You Can’t Afford!” It’s only one page long. The advice is priceless and the book is free.

  4. Emilie in Minneapolis says:

    Then you are one step away from that savings account. After you have trained yourself to reach first for the 99 cent shampoo, be VERY careful to “keep yourself broke” because you are going to have change in your checking account. That’s going to look like free money, but it isn’t. It’s the downpayment on your piece of peace.

    If you can’t bring yourself to taking the other $4.01 from the shampoo saving and putting it into a no touch savings account, then save it the other way. Deposit all income to a savings account, pay your MUST bills from that account (house mortgage, car payment, utilities) automatically, and transfer only enough to cover a reasonable budget into your checking or debit card account. Pay your CC bills manually so you watch the balance fall.

    what stays in savings at the end of the month, STAYs in savings. No touch.

    Special events might call for additional savings accounts like one for emergency funds (fill that up first), then one for vacation funds, and so on.

  5. Emilie in Minneapolis says:

    I forgot: the emergency fund is called the PEACE FUND. Post that balance somewhere.

  6. J. Money says:

    dude, this is awesome!!! I’ll be linking back to it for sure down the road – I’m seriously impressed. Also got something else you may be interested in – holler on my email when you get a sec 🙂

  7. Brad Chaffee says:

    Thanks J, this class is just one of the reasons I had to cut my blogging back down again. LOL Glad you liked it man! I tell you what, I was pretty stressed out on the days leading up to giving the speech but it actually wasn’t as bad as I expected. In fact, I was the third person to volunteer to give the speech. My wife is not looking forward to the week of September 4th when I speak to a Grapevine group of African-American ladies for an entire hour about saving, budgeting, student loans, and buying a home!! LOL Maybe my next speech should cover the stress that is caused by giving a speech! haha!

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