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Saving money is important I know you know that already. It’s obvious every money tips includes saving and everyone talks about saving money. Even though we don’t practice it as much as we talk about it. With all the glorious hype about saving you haven’t seen reasons to save money.
Not because you think it’s a bad thing but you doubt if it will really be useful to you with you current financial crisis and the paycheck that bearly covers your bills.
It’s a common feeling and you are not wrong. But I tell you something, no one has ever regretted saving money, no one will and you won’t either. Hence, here are ten super important reasons to save money right away.
They say savings are for rainy days but I say savings are for everyday because a rainy day might be the day after you saved some money.
So are emergencies, they are the rainy days that come whenever they feel like and the only way to prepare for them is by saving money.
2. Financial independence
One of the importance of saving money is to gain some stability in your personal finance. However, saving money alone does not make you rich.
Hence, when you save money you gain some financial independence. You might not be financially free but you are a step closer to achieving that.
With your savings you can make investment or start a business which will grow you income and eventually make you rich.
3. To live a good life
Living a good life involves things like, going on vacation, eating in good restaurant, wearing trends, wearing the best hair, using quality skin care products and affording that visit to the spa. Saving money can make that possible for you.
4. Debt free living
When you save money it becomes easier to stay away from debts and to live a debt free life.
Debts are mostly as a result of no backup money for emergencies and important life events. So when you save it means you always have a financial backup plans.
5. Stress reduction
Having no money on me feels naked and having no backup money completely is scary.
We live a life of emergencies here and there an events we never see coming. Knowing you have no money saved as a backup and plan B brings stress.
Money insecurity can make you feel depressed because you know your kindness or a good smile won’t pay your bills.
If for no reason this importance of saving money keeps me motivated to save.
6. Helping others
I know we live in a time where every lion is to himself. Life is crazy we forget humanity. And who is to blame when the global financial crisis is driving everyone crazy.
Even with all that is happening around us when we save money, we will be able to help others.
You would, be able to loan a family member some money or a neighbor. And you would see how easy it becomes for you to spread love by giving out a few dollars here and there.
7. To make big purchases
It might be hard to bring out a large sum of money to make a purchase. Even if you do not mind your paycheck might not allow you do it.
However, when you save you can make big purchases. Like buying you dream house, cars or even that LoiuV bag you love.
Remember saving money is a deliberate act, so you can decide to keep a certain amount of money within a short period of time just to be able to make big purchases.
As the years go by the cost of education globally is on the increase. Students are left with life-sucking debts in student loans and spend many years after graduation trying to pay them off.
You can make your story different by saving towards college. If you are yet to be in college or a young person consedering going to college reading this then I have a little piece of advice for yor you. You are not too young or too late to start saving for college.
Not college alone but even online studies and online courses are not cheap either. Hence whatever form of learning you plan to embark on you should save for it.
9. Your Marriage
You are not too young to start saving for the wedding of your dreams and the married life you would want to live. To avoid going into debt while planning a wedding or end up having a wedding below your expectation you should save.
Also, it is very important to save money so you can save your marriage. There is a high rate of divorce and one of the major reasons is a financial crisis. This might sound crazy but it is true.
If you still have no reasons to save money perhaps this should be a solid reason.
10. Unexpected major life events
Even though it is hard to accept and maybe the reason I made this the last on the list of important reasons why you should save.
It doesn’t change the fact that life is unpredictable and we can’t plan for everything.
Hey! Not to be negetive some of this major life events are not all about the bad things. Still yet they involve some expenditures here and there.
This will lead you into taking more and more debts which is not the best solution to someone already with money problems.
To conclude on the importance of saving money
There is no doubt that saving money is super duper important and no arguments that it has disadvantages.
However, it is a practice we fail because we feel we have good enough reasons not to.
But you should know, just like how little raindrops make an ocean. So also little savings make big savings. Which can make it possible for you to live the life you wish for within a short period of time.
Let these reasons to save money get you motivated to keep saving money or start saving.