Chapter 1: Saving Money
Chapter 2: Why It’s Difficult To Save Money
Chapter 3: How To Save Money Every Month
Chapter 4: Where and How To Invest Your Money
Everyone dreams of owning a lavish house with a luxury car, going on a luxury cruise or a world tour, or simply retiring to a peaceful and prosperous life. To be prepared for the future and to make your dreams come true, saving money is critical. Although it is not easy to save a lot of money to achieve these goals, it is definitely possible.
Why You Should Save Money
When you already have enough money for everything you need, you might ask, why is it necessary to save? When you save money you will not only have more money in hand for your current expenses, but will also be prepared to face the future with full financial security. Some of main reasons for saving are:
- Emergencies – You might never know what your future has in store for you. When you are faced with an unexpected financial crisis like a medical emergency, loss of property and assets due to natural disasters, or loss of employment due to a volatile economy, it would be a relief to know that you have enough money to handle such situations.
- Future Plans – Financial plans for your future could include your retirement plans, your child’s college education, a down payment on your dream home, or a luxury vacation. Whatever your dreams and plans are, planning your savings and investing wisely will get you all the money you need.
- Sinking Funds – Sinking fund is the money you set aside for depreciation of your assets. Having a separate fund for future home improvements, or repairs on your car or other possessions will help you keep your emergency fund intact.
Next: Why It’s Difficult To Save Money