Five Simple Reasons To Start Saving

Importance of Saving: Five Reasons To Start Saving

Saving money should be an habit we all should adopt but we do fall foul of squirreling our hard earned money because it doesn't offer the sense of immediate gratification that spending does.

With credit card so easy to get, why would anyone want to save and buy with cash? If you buy anything, you pull out the card and then pay it back with payments over who knows for how long. The unfortunate thing is that this sort of thinking is making sense to too many people these days.

Learning to save money is an important habit you should adopt to be financially stable and step toward financial freedom. Many people do think they don't earn enough to save but if you create a budget and reduce your living expenses you can without doubt find money that will allow you to start saving.

Here are the Essential Reasons Why You Should Save Money:

1. Emergencies

It's unpreventable that throughout our lifetime, there will be some emergencies.

From emergencies that will require you to fly across the country, to small emergencies like broken down car, have a decent amount of money saved up keeps you from adding financial stress to the pile.

Money should always be the last thing you will be worried about. So do yourself a favor by saving up for emergencies. Hopefully you may not spend it, but if you do, you will be thankful to yourself for saving up.

2. Saving Money for Retirement

Okay we're talking about the important part here: the importance of saving for retirement. The more money you save during your youthful age, the better your retirement game will be.

Your money will have time to accumulate and make it's own money babies. Who will then have more babies. Kind of like a money bunny situation. Those things multiply like crazy.

Naturally, there's no such thing like too young or too old to start saving money. You'll just have to work harder at it and get more intense with your savings for it to assemble.

Save money for the future you - you'll thank yourself later.

3. Sacking

Being jobless is always a sad thing and sudden. it can affect the whole family.

At this point in time, Savings play a vital role in up keeping the family. Savings provide a great comfort cushion.

You might not be willing to borrow money being jobless. If you are one of those who are not wise enough to save, you will be down to zero completely after the loss of your job.

4. Health Improvement

There's a saying "money can't buy happiness" - but it can improve your mental health. The truth is that suffering financially and being broke can take a huge impact on your mental well being. Your mental wellness is associated with your physical health. By saving money and making efforts towards becoming financially healthy, you'll make a huge positive step regarding your physical and mental health as well.

5. Save Money for Financial Freedom

Saving enough money to live a lifestyle that gives you a sense of freedom is a reason in itself to start saving. To feel free as to whether you have a job or stay in a job, to travel or stay at home.

This kind of freedom may not be possible by saving alone. My view is that you should create a passive income streams to support a lifestyle that you would be happy with so that you are not dipping into savings. indeed, you should be creating a flow of cash that not only support such a lifestyle but continues to allow you to save for the future.

Start Saving Right Away

Start today by setting aside a little money each per cheque. If you receive bonus from work or an income tax refund, use that to get you started or add to what you already got set aside. As life goes on and you need to dip into your fund, build it back up. It takes a bit of work, but it's a habit worth getting in to.