The importance of saving money is not that it is a way to accumulate money in greed, as some people explain it! Rather, it is a system to reduce life shocks and improve the quality of our lives and our families. This is evident in times of financial emergencies and crises that happen to us unexpectedly, as we need some money to remedy the situation.
The benefits of saving money also appear in the post-retirement phase, where savers can use the money they have saved in areas and activities they love and contribute to their quality of life, happiness, and self-worth.
The importance of saving money and the main goal is to have the money you need in unexpected times or circumstances, it is a strong insurance system, and also for us to be able to provide a decent, more prosperous, and quality life for ourselves and our families, we really need to save some money for some things that can be expected Likewise, for example: providing the money needed to own a personal home, if you have saved enough money for that then you will not need to borrow, or at least you will not have to borrow fully the cost of home ownership.
The children grow up quickly, and they always expect us to support them and pave the way for them in this life, and from what they expect to help them financially to complete their graduate studies, which is really a good thing that deserves appreciation, and something that the children will always remember it for us.
The importance of saving money and its real benefits
The importance of saving also lies in the fact that you may one day want to start a private business, but you may not find in your balance sufficient capital to establish the project, unless you have good financial vision, financial planning then and are regularly involved in saving.
Savings can usually be acquired
As long as you have an income that covers your daily and monthly consumption, then you can actually save 10% of your total monthly income. What you have to do is start by recognizing the importance of saving money and its extreme necessity in your life, then you must decide to save constantly from your total monthly income, so saving at the end of The matter is a habit that can be acquired, by believing in it first, and then by practicing it and persisting in it. Your firm belief in the idea, its importance and returns will make it easier for you to control your financial behavior and activate the habit of saving in your system.
There are several options that you can think of if you are a beginner in the saving task and you have a psychological resistance for example and feel that you need some external support, those options – some of which may seem funny – that can encourage you to continue and persist in your quest to acquire the habit of saving, even when Your enthusiasm is diminishing, your feelings about The importance of saving money are beginning to diminish, and you will start to feel “ready to continue!” These options include:
- Opening a suitable bank account (savings), as banks usually provide several types of savings accounts, and some of them are (closed) and it is not possible to withdraw from them until after a certain period has passed, sometimes they are a few years, and some accounts are more flexible.
- Putting money intended for saving every month in a large piggy bank inside the house, and you can keep the key out of your reach by placing it at a relative or friend, for example! A little embarrassment will not kill you!
- You can also tell your husband or family member that you are trying to acquire the savings habit and that you need to follow it! You will receive the money monthly for a year, and at the end of the year the money is deposited into your savings account, and you can give this person the authority to ask you if you do not receive the savings on time, this is generally better than stopping saving!
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Another advantage of The importance of saving money is that this habit will put you on the right track and be a real beginning for your entry into a new atmosphere of responsible and ambitious financial planning, which will pave you a path to the financial success you seek.