Saving money is important; this is one fact of life that no one can be in any doubt over. Having money put away somewhere else, on whatever fashion works for you, means that you can be much more at ease, you can do what you want to do, and you’ll never feel the stress of having to pay for something and not being able to, or having to borrow which can make life even more difficult.
However, although it’s clear that saving money is crucial, not everyone does it. If you are one of these people and you’re not saving because you can’t see why it’s important or how it will help you, or you don’t think you have enough ‘spare’ money to put away each month, read on; you might just change your mind.
Finding Your Dream Job
If you’re working in a job you dislike, but you can’t switch to something else because it pays what you need to make, and the job you really want to do doesn’t pay as much, you’re going to be miserable. This might sound like rather a specific issue, but the truth is that it’s how many people live their lives; they started in a job because it gave them an income, and although they want to do something else, they need the money so they can’t quit. It’s a miserable thing to have to deal with.
Having money in savings means that you can make that switch if you truly want to (although you must plan well in advance and ensure it is going to be viable for you), and that can change your life in a positive way forever. Using your savings, you can add to your monthly income, boosting any shortfall you might have. Or you could use your savings to pay to achieve additional qualifications, which would mean more money in any new career.
Long Term Security
No one can predict the future, but if you have been able to save money, it doesn’t matter what happens; you will have long-term security. Even if you lose your job, become ill, have to move house, want to help out a friend or family member in need, or anything else that no one could have seen coming, if you have a good sum of savings, you will be able to do what is necessary to get you or someone you know through a hard time.
Even if you think that you spend every penny you earn and having nothing to put into savings, and that makes you worried, there is no need for concern. Even just a few dollars a month can help. If you use local coupons to buy food, why not put anything you would have spent if you hadn’t had the coupons into savings? This small measure is a start that can quickly build.
Emergencies
No one wants to think about emergencies happening to them, but they certainly can do, and without any money put aside, what would you do if your car doesn’t start and you need to get to work? What would you do if you had a burst pipe in your home? What would you do if your boiler stopped working? These, and many other things, constitute an emergency and will require someone to come in and help in some way, and they will need to be paid for that.
Rather than not being able to do anything, or using a credit card or other borrowing to pay, if you have money in savings, emergencies like this go from being a disaster to being a slight irritation that can be solved quickly and painlessly.