Every individual earns to satisfy his personal and his family’s need. But it is always necessary for every individual that he/she saves some portion of his/her total income. This is not only important and necessary but always a good idea for future security. There are times of untimely accidents, untimely need of money for yourself or your family so if you have saved then you have an upper hand on your situation. So always by having savings you can be ready for things going to come may it be good or bad. If you have savings you can enjoy good things on the other hand if you have savings you can fight for bad things. So let us also see why one must start saving. There are some of the top 10 reasons why one must save.
10. Future security:
It’s a must to save for yourself and for your family for the purpose of future security. If you have enough savings in your account then your future is secured financially. If you are married then your children will never have to repress their dreams and aspirations at the cost of financial problems. So future security is one of the reasons why an individual should save.
9. Untimely death:
In this life you never know when something happens. Untimely death is very common nowadays. When a death occurs at home you need to have money saved with you. So that at the time of emergency you don’t have to run to others for help. So untimely death is one of the reasons why we should have savings. During the time of death, which is a serious tragedy you have a great deal of responsibility.
8. Untimely accidents:
There are lots of accidents that happen nowadays. People are getting their cars and vehicles insured for this reason. So there can be times when there are sudden accidents at home where you need a lot of money to spend in many things. So you need to have savings so that during such time of tragedy you don’t have to beg to anyone for loans or help. You know that you have money saved in and your mind is peaceful.
7. Study purpose:
If you are married or you have responsibility of your own education then you need to compulsorily have savings. This is because there may be times when there must be sudden emergency for the submission of fees or any kind of monetary thing. So you should have savings for the same purpose. Also there are times when some students are called abroad as part of their scholarship program but they are unable to go as they don’t have enough money to spend. So it is always a good idea to start saving.
6. Marriages at home:
Whether it’s the time for your own marriage or other marriages at home you should not give any burden to your family. You must never give any kind of burden to your family. Even I case of girls, they should save money and spend their own money for their own marriage purpose. This will reduce the burden of your family.
5. Planning vacation:
When you are tired from your work and you need to go out, it becomes very frustrating to think that you don’t have any savings. If you want to avoid that situation to come in future then you should keep savings of money in your bank account so that you refresh your soul with a time of vacation and out of your busy life.
4. Easy donation and help:
If you want to donate your part of income to a group of needy people you must first have a part of savings. Every person has sympathy for the people who are underprivileged, and we can make a difference in their life when we can donate some amount of money as a help to them. But we can do this only when we have savings with us along with the money that we are investing on our own self and our family needs.
3. Sudden downfall:
There can be sudden loss or downfall of your business or in your family member’s business. During this time of emergency savings help a lot of people to overcome the situation. so during the time of sudden downfall it is always good to have a portion of saving from your income.
2. Sudden work:
There can be any work that could come up suddenly in your family. This can be due to any reason. So for you to work efficiently or for you to contribute in that work it is very important that you have savings. So if still don’t save money then start saving from now so that you always have an upper hand in any situation that comes in your way.
1. Being safe:
Here safe relates to being protected from the fear of loan or any other investment that you need to make. So there is always a sense of security that comes up when you have enough savings in your account. You have a peace of mind and you remain tension free because you are prepared for the things to come up whether good or bad.