The Importance Of Saving Money For A Rainy Day And For My Future

1943 WordsMar 12, 20168 Pages
My mother taught me at an early age the importance of saving money for a rainy day and for my future. For my family in Guatemala economic security came by the amount of crops that were produced by my grandfather’s farm. My grandfather was not able to do the work himself. He depended on my mother and her nine sisters to prepare for the harvest. It is for this reason that schools in Guatemala offer their school break during harvest because they were aware of this need. However, farming takes a great amount of time and effort. My mother was only able to finish fourth grade because my grandfather needed her help. My grandfather wanted to make sure that his daughters knew how to do the work in case he got sick or died. I am sharing this story to prove that regardless of culture and nationality people are looking for ways to find economic security. Different cultures might do something completely different than my family in Guatemala. For the United States of America Social Security was a way to provide economic security to his citizens. This paper will discuss the history, evolvement, changes in the policy, strengths and weakness of the program. When the colonists first arrived to the United States they brought with them many of the ideology from England. The Poor Law of 1601 inspired them to have local taxation to support the poor. It was during a severe economic depression that England adopted the Poor Law of 1601. The main goal of the law was to maintain social stability,

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