But have you ever thought about why is it important to save money? People have the tendency to find excuses for not saving. I bet, you probably have a few of your's as well. Now’s the time to shake off the excuses for not saving and reap the benefits of saving as early and as often as you can!
1. Peace of Mind
Unexpected events such as sudden job loss, death of a loved one, illness or other unexpected occurrences can stress us out if we are not financially prepared for it. As much as we do not want them to happen but the reality is that they do. And most of the times, things happen when we least expect them. What's worst is when you're facing an urgent situation and not being able to find where and how to pay those unplanned expenses.Setting aside an Emergency Fund can give us a peace of mind when unexpected expenses come up. The key to building an emergency fund is to save even a small amount of money every month.
2. Security
What do you plan to do when reaching at your retirement age? Do you plan to travel? Or is there anywhere or anything you dreamed to go or do?Without having enough savings when you get to that stage, can really be frustrating. What you get from Social Security will just be enough to make ends meet. Thus, start saving now to guarantee the financial security of your future and enjoy life to the fullest.
3. Financial Freedom
Financial freedom is the ability to make life decisions without the fear of any financial limitations. One factor of reaching a financial freedom is money management. If you don't live within your means, it won’t put you any closer to financial freedom or independence.You can start steering towards that goal by simply tracking your expenses and learning to save and budget.
