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Why savings will change your financial life

by Chinkee Tan

Think of a time in your life when you had an unexpected expense.

It may be a medical emergency in the family, recovering after being hit by a calamity or losing a loved one through a disease.

Being sick is already bad, what’s worst is when you don’t have enough savings to pay the bills.

During those times, did you quietly wish that you saved enough money in order to have something you can spend for your emergency?

Not all Filipinos make SAVINGS a priority. It usually takes a financial crisis in life to remind people the real value of putting aside money.

Here is a list of how saving money can change your life.

#1: SAVING MONEY CAN HELP YOU DURING EMERGENCIES
There is nothing more frustrating than not having enough money when you need it the most. Always set up an emergency fund that you can only access during uncalled for situations. You not only address the need, you also spare yourself the stress of looking for financial resources.

#2: SAVING CAN HELP YOU PAY YOUR DEBTS
Intentionally putting aside money every payday in order to pay off debts will eventually give you benefits. Getting rid of your debts is part of achieving financial freedom. You will not be able to fully enjoy your financial success knowing at the back of your mind that you still owe people money.

#3: SAVING PREPARES YOU FOR RETIREMENT
A retirement fund is a MUST. It is comforting to arrive in your retirement season confident that you have put aside enough money to help you live comfortably in your retirement age.

#4: SAVING GIVES YOU PEACE OF MIND
Knowing that you are ready for any kind of emergency or unexpected expense makes you confident. And when you are confident that your are prepared for any eventuality, you can sleep more soundly at night.

#5: SAVING LEADS YOU TO FINANCIAL FREEDOM
The discipline of saving is one of the foundations of financial freedom. When you are able to prioritize your expenses properly early on in life, you are laying down the very basic foundation of financial freedom.

THINK. REFLECT. APPLY.
How do you think saving money is changing your life?

Are you saving money for future emergencies and needs?

How much can you set aside for your savings every month?

If you want to learn on how to save more, I suggest you read my latest book “Diary of a Pulubi”, visit my site chinkeetan.com and click SHOP.

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