Why Do We Save Money?

Why do we save money? 1

The 3 most common reasons to why people save money are : –

Children – You are married and you are going to have your first child. After giving a deep thought towards your child’s future, you’ve arrived to the conclusion that yes the time has come to get serious with the saving and all, after all it’s a question of your child’s future and such an important matter cannot be neglected.

Retirement – You are probably in your 40’s and you realise that a day will come when you’ll retire and you will not have a salary anymore thus no active income. You’re worried that if you won’t have any money after your retirement then how are you going to make your living? You sure are a man of honour and will not bow down to anyone, not even to your own children. You’re one such person who believes in taking care of himself whether he is young or old, retired or not. You decide to start saving money from then, so you will not have a problem after your retirement.

Big Fat Purchase – You have planned to buy a costly house or a dashing car and need to save a lot of money in order to purchase that. Perhaps you need a lot of down payment for that and without saving some money it is not possible to purchase such a costly thing. So you start saving from the day you plan to buy such a thing and once you’ve had enough of the saving, you go ahead and spend all of it as planned.

Is that all? The only reasons to save money are the above listed ones? I never understood that how people could neglect the most basic importance of saving money. I’m talking about converting those saved money into more wealth. Always remember these three words – Wealth Grows Itself!

Saved money is nothing less than a money making machine. You invest those money you save into something that generates even more money. The more the money you save the more the money you will earn from it. All you have to do is to create a balance between spending and saving so you continue to get richer as well as enjoy the life.

The beauty of saving from Day 1 of your working carrier is that you really don’t have to worry about safeguarding anything listed above. By the time your children will grow and you will need money for their education or anything, you will already have more than enough money to satisfy their requirements. And by the time you retire, you will have so much money that you will worry more about where to spend rather than if you will have money or not. So start saving from today and free yourself from all such worries.