Many of us do not believe in saving bucks; instead spend it within days of earning it. But seldom do we realize its importance and the criticality that it holds in our lives. It is more than compulsory to realize that money is power; the more you have it, the more power you are. Therefore this article discusses about a few important points regarding the necessity of saving money.
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Firstly we all know that emergency can occur any time and it has been seen that during the times of financial crisis, most people turn their backs at us. Therefore it is of utmost necessity that we save enough money to cope up with any sort of emergency or financial crisis. This would ensure a peace of mind and keep us well prepared for any tough times.
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Secondly it is required that we save for our retirement. This factor may not be taken seriously by the teenagers or those who are starting their career, but for those who are in their 30’s and 40’s, it is time to start considering this fact and start saving for their post retirement life. That is another phase of life which promises no income at all, and the elderly people usually live on pension and whatever savings they could gather for their whole life. Thus the more you save from now, the better life you would have after retirement.
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Thirdly for all those who are planning to buy a house, know that a HUGE sum of down payment is required at the time of booking one. Therefore, if you waste money on unnecessary things or by buying worthless items, you have to compromise later on. So it is always better to save money for bigger things in life.
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It is agreed that life is not just about saving, but also spending. But again vacations need money. Plan up to spend some time with your family and save accordingly. An outing once a while is always welcome and refreshing. But to enjoy it without worrying much about budget, it is always recommended that you save for it from before time. Not just vacations, but if you dream of owning some luxurious items for your home, you can probably plan a systematic saving and one day turn it into reality.
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Similarly there are a numerous more reasons that are dependent on your savings like purchasing a new car, investing in gold, taking care of your household needs, basic and higher education of your children, donations, social service, etc. If you have the money and it is under planned supervision, then you can lead a tension free life. But otherwise if you just work like a machine and earn money spending it in a haphazard manner, then it would not be very late that concerns would take you over about all the things mentioned above.
In the end, always remember that god helps those who help themselves. So in the concept of saving as well, help yourself and god will surely take care of the rest.
About Author: This is a guest post submitted by Sandra Edgar on behalf of Simple Personal Loan Sydney .