Saving is key for financial freedom.
How many times have you tried to have savings? For those who have savings now, what are your savings for? What are savings for really? I've asked a lot of people around me why are they saving money and none of them knew what savings were for.
Savings serve a purpose. If you do not know what you are saving up for, i am very sure you will have difficulty starting good savings habit. Your savings can be divided into these categories;
- Retirement
- Child's education/ future
- Medical
- Emergencies
The benefits of saving are often hard to value when it all seems so far away in the future. Here is the reality - people with savings have choices. Not having savings often leads to debt spending. Debtors are owned by their creditors, chained to their jobs to obtain money to cover debts. If they fail, they know they face a world of financial pain and money worries
2 comments:
I belive that all the people who saves money is thinking, at least, in one of the 4 points you've comented.
Yes! I also believe that most people do not save for all four categories.
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