Importance of Saving Money In Todays Economy!!

Importance of Saving In Todays Economy!!

People are always trying to save money,especially with today’s economy.No matter what your reason for saving, through this hub, you will discover the logic behind it.The price of everything has gone up, requiring people to be more conscientious about money. The problem is that by the time the mortgage, car, utilities, and credit cards are paid, there is little money left to save. Saving money is not that hard,just a matter of learning all the different options and being creative. Apart from the obvious of putting money into a retirement fund or savings account, there are hundreds of ways to save money. Although some methods may not seem like much, once you count them at the end of the year, you will see how important the savings really are.

Keeping in mind that saving is more than a large amount of money put aside. Saving is something you do in everyday life by the way you live and the choices you make.


The World was not built in a day and neither will your bank account be. Each penny saved is one more than before. If you have the means to save large amounts, this is great. However, most people don't have the means to do this, which is why this hub will show you how little savings can add up quickly. Although it is never too late to start saving, regardless of your age. You need to get into the mindset that now is the time to start saving for your future.

Morale Of The Story

Imagine you have a large water pot. Each morning you fill that water pot to the brim with lovely refreshing clean water HOWEVER you don't realize that the water pot has numerous leaks in it.

What happens? Of course... During the day that water pot slowly runs empty because of all of the leaks. You come home from work dying of thirst and you go to your precious water pot and it's dry.

Sadly this is what we do with our money too... Unless we find ways to save it our financial life resembles very much that of the water pot. Unless we plug the leaks there will come a day when we need to buy something but the money pot will be dry.

It all starts with fixing the biggest leaks first...Fix just one big leak and that will keep the water and money pot fuller for longer. Manage to pfix a few other leaks and your money pot will not be empty when you need it most.

Conclusion

Although we are seeing an improvement with the world econimies, you can never be to certain and every extra penny you can save, will help if things take a turn for the worst again.

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Comments 1 comment

atechwiz profile image

atechwiz 4 years ago

Although there is certainly more financial risk involved I prefer to invest in stocks of well established companies and use dividend reinvestment as my savings. It is hard to beat the dividend rates paid by some companies given the relatively low cost of investment.

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