Saving money is something new to me. As my friends say, I love to spend and certainly enjoy the good things money can buy, and the idea of thinking how to save money for me is just boring and depressing. Besides that, I cannot stand listening about economic crisis, bank bailouts, saving your last penny and so forth. Money has become the talk of town and people seem not to have anything else to talk about. Thankfully, I always do my best to steer clear from this dreaded topic – saving money. But then again, how does it feel when you do not have extra cash for an emergency? Can you comfortably borrow money from friends and relatives? If not, then you should read this article several times to fully understand the importance of saving and the joy of having money around when you need it.
1. Avoid petty stress
Saving money each month can help alleviate the stress and anxiety associated to not having money to meet your needs, and any problem faced by those that spend their every penny is completely avoided. You will agree with me that our earning potential decreases as we age hence saving for future luxuries is far important when your physical health clearly dictates employment is now a forgotten term to you. A sizeable saving will allow you to enjoy peace of mind.
2. Boosts your self confidence
Having money around feels great, don’t you think? It acts as a constant reminder that spending is money that you no longer have, and that buying stuff to fill your void is a small step toward a bigger problem. Whether you save for a vacation or new shoes, each time you set some money aside to accomplish your goals is a positive step towards getting it.
3. More income and less dependence on those around you
Having a sizeable saving means you will never nag your family or friends by borrowing money. After all, they also have their share of financial obligations. The point of saving is to encourage independence through personal financial responsibility. The sky should not be your limit when saving money.
4. Invest and earn more
When you decide to save some cash every month and embrace the lifestyle of frugality, an array of choices are available to you. For starters, you can invest in stocks or buy that special gift you have always cherished. As a suggestion, you should do ample research before you invest your hard money in stocks.