“I save because I want my future self to have the same great lifestyle I have now, and I don’t want to get caught in a financial emergency.” “Plain and simple, having money makes your life easier,” Perez says. “I love saving money because it means financial security,” says Kara Perez, who founded a financial education company that aims to empower women by providing them with the tools and education to reach their financial goals. Plus, it’s critical to have some cash set aside for emergencies and unexpected expenses as they come up. A new car, a new home, a child’s education… the possibilities are endless. Why save for later when you can spend on what you want today, right? But among the many reasons to save money is that even if you don’t know exactly what you’re saving for right now, you’ll likely find something you want to save for in the future. It can be tough to allocate some of your cash to a savings account if you don’t have a set goal for that money.
If you need help understanding the importance of saving money, consider these key reasons why you should save money now: 1.
Knowing the reasons to save money can be critical if you want to stick with a savings plan for the long term. After all, saving money takes discipline and a certain amount of sacrifice. It’s tough to do something consistently without understanding why you should save money and put in all that effort in the first place. When it comes to doing the right thing financially, just knowing you should save isn’t enough.Īnd that makes sense. Despite the importance of saving money, many of us aren’t following through on that tip. Saving is one of the most basic (and most repeated) bits of financial advice out there. The importance of saving money is rarely disputed. According to Bankrate, more than half of Americans are behind in saving for retirement, and 21 percent of Americans aren’t saving at all.
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