Before we get into why you need to save money, let us look at the daily life story of many middle working class adults. Many middle working class adults have good jobs as engineers, lawyers, managers and supervisors at big corporations, multinational corporations (MNCs) and small medium enterprises (SMEs). No doubt, most of the average monthly paycheck of a few thousand dollars per month is indeed appealing.
However, some of their lifestyles are just as fabulous as their salaries. Instead of having decent halal food new york at eateries, some will hang out at bars with fellow colleagues after work, dousing themselves with booze daily. They also work out at the expensive country club gyms and pay for their golf facilities.
Some are very good spouses and parents. They are willing to pay for holidays with their family, weekly spa treatments and they buy whatever their children want. In addition, they often eat at restaurants or through delivery services each day. Visits to their local hypermarkets are sure to guarantee a truckload of junk food and impulse purchases, such as 20 bags of potato chips (at 30% discount!) or a brand new set of British dishware (which are authentic). Some may even start to take a fancy on expensive cars and are willing to sign up for multiple credit cards to sustain their new-found hobby.
Can you see what is wrong with their lifestyles? Obviously, most of them have no concept of saving whatsoever. Their whole family may be doing well, currently. But what if the breadwinner gets downsized, retrenched, laid off or perhaps met with a fatal accident? The family will have nothing to depend on. Don’t forget that the debts from the credit cards and instalments will still be coming.
Now, can you see why it is extremely important to learn about saving money? Not only does it help to stretch your dollar, most importantly, you are building an invaluable habit as well. A frugal life can help you to live a stress-free life, avoid huge debt pitfalls, and also give you more control over your finances. In addition, you will definitely have fun doing it as you watch your expenses reduce by the day, and enjoy the delayed gratification as times go by.
Although ‘saving’ is no rocket science, it is not a walk in the park either. Surely you have heard of people saying things like ‘it is only a few cents or bucks more, it won’t hurt’ or ‘money is ultimately meant to be spent’. Both statements are correct, provided that it is not spent on a daily or frequent basis, and the product is indeed indispensable.
It is exactly those words that result in expenses totalling up to 5-digits sum in a year per family. You will definitely need a purpose. Otherwise, the effort will never pay off. Isn’t it better to channel all those wasted figures into your bank account, and start saving more efficiently?
With all that said though, you should not just hoard all your money and be a total miser. When there is a need to spend for necessary household or business expenses, then by all means go ahead and do so.
For example, if your children need new revision books for school, then you will definitely need to spend money to purchase them. Or if you are running an online business and need to buy high quality backlinks to improve its page rankings on search engines, increase traffic and ultimately revenue, then by all means, go ahead and spend the money. But be careful to only buy those backlinks from a reputable SEO agency such as https://www.786seo.com/ so that you don’t end wasting money instead.