October 19, 2009 by Heather Hoang
Everyone knows saving money is the prudent thing to do but not many actually understand why they should do it, what the benefits are because they have never sat down to think about it. Here’s why you need to keep some cash with you.
When you lose your job or want to relax in the Caribbeans, it’s quite difficult if you max out all your credit cards every single month. What are you going to do when you retire? Isn’t this reason enough to save?
You never know when you will need a bunch of cash for emergencies. Maybe it’s for a car accident, or maybe it’s for medical, but you will need to pay for something sooner or later.
Money means more choices. If you want to start a business, you can. If you want to move to another city, you also can but it’s not possible without a chunk of dough saved up.
Sometimes, changing careers is the best long term move but what if you had no savings and moving means having less salary at the beginning? Can you really make the leap if you have been living paycheck to paycheck?
Shopping is actually very time consuming. If you start saving money, you will spend less time at the mall, which means more time to do other things that are productive.
You will truly appreciate a simpler life once you decide to practice frugality. In fact, you will probably be happier once you start saving money and relying less on buying.
Do you want to retire early? Do you think it’s possible without saving money? With discipline and a plan, anyone can retire early and travel around the world while everyone else you know is still slaving away at the 9-5.
The power of knowing that you can buy anything with the money you saved is much greater than actually buying the product. It will give you added confidence, and you will find that other parts of your life will improve as well.
The rich always get richer and I know you wished you could be in that crowd. If you start saving, you will have a chance to join the party too.
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