Saving for a rainy day is a lesson we learn from childhood; when we grow up and earning we always want to save some part of our earnings for various reasons. Life is about enjoying the things money can buy but sensible living 9is about providing for yourself and your loved ones in future, with this end in mind we must adopt the saving habit.
If you are still wondering why savings matter then here are some pointers to help put things in proper perspective for you; here’s why you need to save and that too save regularly…
An Emergency
This is the most obvious and prominent reason why you need to save. Setting money aside to tackle an emergency or an unforeseen situation as and when it arises will help you deal with it better. Having to worry less about money when trouble strikes is the good thing about being in any bad situation. It could be anything…losing your job, meeting with an accident, sudden illness, business losses, savings are the buffer against the impact that an emergency has on you.
While any emergency throws you off balance simply because it catches you off guard, having enough funds to cope with it is important.
Saving for Your Retirement
No matter how long you intend to work, retirement is bound to happen one day or the other. It means having to deal with life without the regular steady income that you were used to and balancing your needs so as to maintain a decent lifestyle, equivalent to if not better than what you enjoyed during your working years.
You might also need to add some amounts which you will require post retirement especially if you don’t retire young…amounts towards medical expenses and routine health checks, both of which are necessary to be in good shape physically and mentally.
Realizing Your Dreams
Yes, your savings are the means with which you can realize your dreams…whether it is your dream car, that vacation you always wanted to take or that dream home you always aspired to own. If you have a goal that you want to achieve then saving regularly will help you take a cruise or travel at least once a year. It might also help you buy that condo or villa and yes race around in that sports car. Every aspiration of this type calls for money and that begins with saving.
Reskilling and Education
The economic downturn that has been upon us since the year 2008 or so was the time that many people active in the workforce realized the importance of getting an education or adding a skill to their existing skill sets. Saving some part of your regular income to add to your qualifications in the biggest investment you can make…investing in yourself to meet the demands of the new job market.
So what are you waiting for? Empower yourself today with a savings plan to suit your needs and meet your expectations. Look at easy access savings for example and start saving today!