Personal Savings Plan - Why You Need One
- Author Alyse Addis
- Published January 24, 2011
- Word count 350
Are you saving money? If not, then this is an article you must read. The importance of saving cannot be emphasized enough and even if you start saving $5 per day, its something that can make the difference between a comfortable retirement and a life of struggle when your earning years are over. No one wants to work when they are old and meant to be retired, but the reality that many people face all over the world is that they will have to work well past retirement age - just to survive. The global financial crises wiped out many retirement funds and those who though they had enough saved up are now being left short and with governments just as broke you are the only one that can help yourself.
So, why start saving now? Well, the first and most important reason to develop a habit of saving is because it allows your money to work for you. By getting interest on your money, it grows and with the principle of compounding it keeps growing faster and faster. Knowing that your money is growing even when you don;t work can give you a sense of security and a sense of confidence in your future.
its estimated that we all need at least 3 months of monthly expenses saved up in cash. This means that even if you lose your job or even if some disaster strikes, then at least you will have enough tome to find your feet again without risking losing your home or losing any of your possessions.
Let's face it. We don't know what tomorrow may bring but what we do know is that we are going to face ups and downs. being prepared financially is important and having a robust savings plan is a very important aspect of it. Many of your daily expenses are just bad habits - habits that you can easily do without and funnel into your savings account. So, why not sit down and see where you can get some extra money to help grow your nest egg and secure your future.
Are you looking for the best saving rates? See my blog to read more about the best savings accounts.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- How EasyPDF™ Forms Save Time & Money at Home and in the Workplace
- Regardless of What You Believe or Have Been Told, Desktop/Laptop Computers Are Not Going the Way of the Dinosaur
- The One and Only 15-Second Digital Lien Waiver to Complete and Submit in Record Time Using the Free Adobe Reader
- Augmented Reality (AR) in Business: Why Your Company Needs It
- What is a Chauffeur Service? Unwind and Arrive in Style (www.chauffeur.my)
- Tuozhen: Your Go-To Custom Hoodie Manufacturer
- What can tourists do in the Caribbean?
- The Unseen Impacts of Financial Noncompliance on Business Growth
- Top 10 Reasons to Use Business Central’s License Plating App
- Exploring BCShows: A Comprehensive B2B Industry Platform
- A Luxury African Safari Or A Caribbean Beach Holiday
- What might be able to be done for osteoarthritis in the future?
- App Development: Transforming Ideas into Reality
- Why is the study of history is critical?
- Navigating Europe with Confidence: Logistics Solutions from Barcelona and Cluj-Napoca
- Taking a Well-Deserved Break: An Introduction to London Respite Care
- Discover the Convenience of Chauffeur Services in Kuala Lumpur, Malaysia
- Fall Holiday Fashion Trends: The Kaftan and Kimono Dress Revival
- Vintage Bohemian Charm: Creating a Home Office Retreat
- Embrace the Maximalist Decor : Unleash Your Boldest Dreams
- The Impact of 3D Animation in Business: Enhancing Visual Communication and Marketing Strategies
- Check Out These 6 Tips For A Great Day Hike!
- Steady Slope Marketing: Launching Your Small Business with Google My Business and Digital Marketing
- Steady Slope Marketing: Boost Your Business with Targeted Facebook Ads
- Steady Slope Marketing: Building Strong Brands for Lasting Success
- Steady Slope Marketing: Maximizing Growth with Google Ads
- Steady Slope Marketing: Building Custom Websites that Drive Growth
- Steady Slope Marketing: Unlocking Growth with Google Local Service Ads
- Steady Slope Marketing: Scaling Your Business for Long-Term Growth
- Steady Slope Marketing: Setting Up Small Businesses for Success in the Digital Age