The Importance of Saving Up Money While You Can
One of the most important yet ignored decisions is saving up money. To some people, this is their first and foremost priority but not everyone has the chance and will to do it. Most of us are called "one day millionaire" or someone who spends a lot of money in within just a day for fun after getting their salaries or extra money. Can you relate yourself to this? Because sometimes I am just like this too.
Argue with me or what, but money is a necessity. The world revolves around it nowadays. We cannot buy foods or drinks without money. And we cannot hop into cars and go wherever we want without money. It is everywhere, and is an essential to survive in this world.
As a Financial Management Major, one of the topics that we always tackle is about money and how to manage finances. And saving money is part of it. When I already stepped up to shoulder the expenses at school, I told my Mom to finally save money. And here are the reasons why I believe that saving money while you can is a very important decision you can make.
Save money for emergencies.
It would be best to save money for emergencies, like hospitalization, disasters, and other unexpected scenarios that directly involve the need for money. This is the most important thing that people must understand to avoid situations like borrowing money from loan sharks that will only take advantage on them.
Also, saving money for emergencies can also benefit not only you but also your family especially if they will need financial support. They do not have to get out of the house and broadcast the need for money because you will be there for them.
Save money while you can.
If currently have a stable job or source of extra income, it would be best to consider saving money if you can. It can be an advantage since you have enough money to save. When you have extra money left after paying the bills or your monthly responsibilities, it would be best to save it up no matter how much.
Save money to enjoy.
Are you planning to go on a trip alone or with your family? Using your salary as your budget will not be enough, and it can leave you high and dry after the good times. It would be best to plan ahead and save money for your upcoming travel. In this case, you will know how to budget the money well and even prepare yourself for possible unexpected turn of events. You can count on saving money for your leisure activities, too.
Save money for the future.
We do not have any idea what kind of future do we have in the next years. But if you have a regular job now, make sure to keep a few amount in your savings account. Think about your future and how you want it to look like. Whether you're looking forward to having a house, car, or business, start saving now.
No matter what your reasons are for saving, know that it's a good decision you made for yourself. And if you are still planning to start your saving journey, I wishing you a good luck and I hope the next years will be fruitful to every one of us.
Do you think it's important to save money? Why? You can answer this question on the comment section below, so I can be aware on your views about saving money.
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The first point that you highlighted is avee big deal because oftentimes, we have problems that we didn't see coming. If there's nothing saved to counter these problems when they come, then we'd result to borrowing