THE IMPORTANCE OF SAVING MONEY...

 The Importance of saving

1. Helps you live a better life

With savings you can live a better life right now; so many people can’t go on vacations or even visit their family in another state, because of a lack of savings; this shouldn’t be your story. You can live a better life by starting the process of saving now.

2. Prepares you for retirement

No other time is suitable for retirement planning than right now. If you wait until your early 50s to start saving, you will have to put a side a lot more money compared to if you started saving now.

I also do not advise that you wait for the government to help. Start saving as you work today, start putting a little bit of money aside, so you can retire well tomorrow and enjoy the fruits of your labor.

3. It becomes an emergency fund

Anything can happen at any time, and emergencies can rear its ugly head. If you have been saving, it will not be difficult for you to handle emergencies. If you have to get something done immediately and it requires money, you will be able to handle it because you have your savings you can tap into.

4. Creates a possibility for investing

I hear many people complain that they don’t invest because they don’t have the necessary funds. This is one of the most important reasons for saving; you get to have money set aside to invest when the opportunity presents itself.

5. It empowers you

If you ask anyone who is a consistent saver, he/she will tell you that they feel empowered every time, because they know that regardless of what happens, they will be able to take care of themselves.

The feeling of empowerment your savings will give you never goes away. You will also be in a position to become more charitable if you so wish to do.

6. Helps you plan

You will be a better planner when you are good at saving. If you are in college, being frugal and a good saver might not look appealing, but you are setting yourself up for a successful financial future. 

If you are expecting a baby, saving and setting aside money now will be one of your big priorities. Being a consistent saver also helps you eliminates excuses.

 If you want to take a much-needed vacation, you can plan for it if you have saved some money.

7. Keeps you responsible

When someone isn’t saving enough, they tend to abuse the privileges they’ve got with the money they have. So, they sometimes overspend especially on things that aren’t important

It’s too convenient to buy something with your credit card and only make minimum payments on your balance. 

However, one of the importance of saving money is the fact that you will be responsible enough to spend money on things you need and keep some aside as well for things you want.

8. Helps in times of crises

No one plans for the unexpected, but if you save, you will be able to bounce back. 

Should there be a car accident, loss of your job or a terminal illness, you will be able to manage the situation because you have money set aside.

 Even if you have medical insurance and need to get surgery, having money saved up will get you through this unfortunate situation.

9. You can take risks.

Be bold in life and take calculated risks that will lead to significant accomplishments in your future with your savings. There are times in your life when you know that all you need is to take the next step, but if you are held back because of a lack of money, you will be unhappy with yourself. Save now then take risks! 

The important reasons of savings you’ve got in this chapter should be enough motivation for you to start thinking about it. Be inspired to live your dream and not be held back because of a lack of money. 

Don’t be the person who is always asking family members or friends for a helping hand, but be the helping hand who can be charitable enough to make a change in someone’s life. You will find the top fifty tips for saving in the next chapter so hurry along now and let’s get started.