The benefits of saving money include financial stability, stress reduction, and the ability to achieve long-term goals. Over the past few years, I have been saving money each period, not for any special reason. For instance, to buy a house but just in case something big went wrong. It is in a way a pattern of self-insurance. In this article I compose about the benefits of doing this and about my own personal experiences, i.e how difficult or simple it has been saving in this way.
Perhaps I am being insane but I always look to have far less money than what my friends had. Four years ago a group of us went to Italy for a two-week vacation. I will never forget the time when one of my friends asked how much money each of us was taking on the vacation. We all answered one by one and to my fear not only did I have the least sum. But I had roughly two hundred pounds less than the next lowest individual. It was not because I was being tight, it was because I did not have any more. It had really been a real endeavour to save up this much.
When I arrived back from this vacation I decided that I necessary to take action on my attitude on financial matters. I read some books and spoke to a number of groups about the best way for me to move forward. I did not want to have to battle next year if there was to be another vacation for example.
Benefits Of Saving Money: Maximizing Financial Stability and Future Opportunities
I believed the answer was to kick off saving an asset every month which would leave my account via direct debit. I was the type of person who would essentially spend whatever I had or earned. If it was in the bank therefore I would spend it. It was to depart my record via direct debit I would have no way of course to consume it.
I set up one of these savings plans of action and started it at a humble 30 a month. I am very pleased to say that it did not exactly have a major negative effect on my social life. The policy itself was in some way connected to the stock market and this itself was quite exciting, sad I know. After a year I received content through the post and I was quite happy to see that I was actually worth something for a change. I then definite to increase the amount that I was going to save to 50 a month.
In life you never really know when something is going to go inaccurate. For example, your car breaking down or the need for some improvements to your house. Saving in the way that I know makes these issues far less trying to deal with as I have the finances readily available to remedy the status.
At times of course I have sufficient wealth saved to splash a bit on say a vacation or a new car.
I would strongly advise other people to commence saving on a regular basis as it has certainly given me a piece of mind.
