Saving is a way of insulating oneself from the many symptoms of health and natural adversity. While an average youth of yesteryears thinks more about short-term financial goals such as purchasing a new pair of signature shoes, owning a new jet ski or a brand new car, statistics show that more and more are starting to realize the importance of keeping a personal savings.
Long terms goals are described as goals that have a lasting effect should a person’s present actions be religiously maintained.
The following statements are outlined to provide information and tips on how you can start up your money-saving gimmicks and ensure a happy and financially stable future and list the reasons as to why saving money should occupy a greater place in our list of priorities in life.
Reasons for Saving:
- Saving for your Future and Present Needs – Saving today will provide you with flexible financial resources in the future.
- Saving for an Investment Need – Savings can also be a source of your future capital for engaging in business enterprises.
- Saving for your Retirement – More than 23% of today’s elderly were shown to have failed in one instance in their lives, to save and strategically used their money for preparing their way to retirement. As a result, these folks extend their entire retirement career working on an equally satisfying job that pays them enough to cover their basic expenses.
No matter how good our intentions and objectives for saving are, we should also take note that goals can fall and touched the following baselines or characteristics.
- Attainability – Goals should be something attainable and one which can be achieved without you doing something extraordinary or illegal. A little amount of patience and hard work are key.
- Consistency – Changing your goals from time to time due to incidents that may arise in the near future are sure ways to deterring your intention to save.
