Borrowing for everyday spending has become a hard habit to break
Published 22/09/2016 | 02:30
When times are good, it makes sense to salt something away. Times aren't always good. After the past eight years, nobody disputes that.
When bad times come, having some savings to fall back on makes life less difficult. It also means less disruption.
Running countries' finances and running household budgets differ in some significant ways, but in both cases prudence is important. If you want to avoid a shock - in personal life or in national life - having a cash cushion is wise.