What is Savings? Savings is allocating a certain percentage of your income for not spending on anything and reserving it for future. Savings can be done either from the surplus money that is left over from your income or by limiting your spending on needs and desires. Savings can be set as a goal in terms of amount of money or for a certain time period and can be planned in your monthly, quarterly or annual income.

Why do I need to do Savings? Savings is one essential aspects of life that gives you an opportunity to lead consistent quality of life. It gives peace of mind, comfort and a confidence to get out of any uncertainties in life such as job loss or medical expenses. Savings will act as a cushion for you and your family members in case of any unfortunate event. It will help in hour of need, without needing to rely on your friends or any third party, for that matter.

Why don’t I live the moment happily rather than dwindling my desires and save money for an unknown future? Life doesn’t end with momentary fulfillment and happiness, there are lot to it. Life is full of turns and surprises which may be sweet or bitter and whether we like it or not need to ride through those. Savings helps you to build your wealth step-by-step thereby providing you a secured future and the strength to manage any untoward incidences that money can overcome. Savings can give you a continued happiness, sense of satisfaction and can realize your dreams such as vacation to your favorite location or buying a luxury item which you may think as an impossible one with your current income. So it is worth for you to allow your long term saving goals to override your short term happiness.

When I live a happy life spending on what I need from the money I earn, what am I going to get from Saving money? Setting aside some amount of money in a regular pattern can help you plan for big future goals such as buying a house or a vehicle, accrue retirement funds, money for your wedding or for your children higher education and so on. When a unfortunate event occurs, Savings can help you strive through your financial hurdles in the event of any unfortunate incidents such as business loss or during time where you are unable to work or when your family needs finance help.

There may be many reasons, desires and ambitions which you may not even currently think or pursue because of your current income and financial situation, but a well-planned saving can help you achieve most of them. SAVE… SAVE… SAVE…

Regular Budgeting Leads To Savings