6 Reasons to Start Saving Money Today

Posted on Jan 11 2017 - 12:45pm by Liz E.


Saving money is, at once, the easiest and hardest thing to do. The biggest hurdle is in starting that savings account, and if you’re like millions of Americans who have been dragging their feet when it comes to saving money, then here are six reasons why you should start saving immediately.

1. In case an emergency arises

Emergencies happen to everyone. Whether it’s something like your car breaking down, an emergency room visit, or any of the millions of other things that could go wrong, an unexpected emergency can cost you plenty of money. But, if you have an emergency fund (and I don’t mean a credit card) in the form of a savings account, then you are better equipped to deal with life’s mishaps.

2. Because you want to retire

You don’t want to work forever, right? That sounds just awful. One way to make sure you can retire and still have time to spend with your family is to start a savings account. Once you have some money built up, then you can decide if you want to leave it to gain interest or reinvest it somewhere else. Without a savings account, though, you don’t have that option.

3. To make a big purchase

We might be talking a house or a car, but either way you’re going to need some money down. Even if you aren’t looking to buy anything huge right now, you might eventually and starting your own new car/house fund is never a bad idea.

4. For more security and peace of mind

What if you lost your job? What if someone stole your identity? What if you had to make an unexpected trip or had an unexpected expense that wasn’t really an emergency but still way out of your normal budget? That’s where a savings account comes into play. It will allow you more financial freedom and peace of mind so that you can take advantage of opportunities as they arise.

5. To travel

Traveling is fun, but it’s also extremely expensive—especially if you’re talking about any great distance. How many times have you heard that someone wants to travel more, but somehow they just can’t find the money or time? Start a savings account now for that overseas trip, and soon you’ll be the envy of everyone!

6. For the future

Having a savings account opens up a million possibilities as to what you could do. Make one for your children’s college funds, or even start one and go back to school yourself! Buy a summer home or be able to retire a little bit early. No matter what your goals, a savings account is the way to get there.

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