The Importance Of Savings

The Importance Of Savings
The Importance Of Savings
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In a time like this when it seems like inflation is sweeping over the world, it might sound a little bit ridiculous to ask someone to save.

There isn’t enough to live by, so why should they even want to save? Beyond the beautiful intention that comes with the idea, it is also important for you to understand the advantages that comes with savings. Some of these advantages does a lot to your mind and your personality. It gives you some confidence and helps you develop some form of ‘peace’ when you know you have some backup in the advent of emergencies.

In cultivating a savings culture, you must imbibe consistent saving habits into your lifestyle. These practices should be so engrained into how you move through life.

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A good and solid saving habit goes hand in hand with building a savings culture. Regardless of your income, it is important to train yourself to save something each day/week/month (or however convenient it is for you). Then, over time you can increase your savings percentage.

Savings culture is strongly related to wealth creation. Pension is one of the world’s best savings cultures. Civilized countries have deeply rooted pensions into their social welfare and development plans. Their aged and retiring ones look forward to going on safaris, adventure, and a new life.

When I talk about savings, it is important to understand that, investment or diversifying your funds also fall into this category as long as you are motivated towards improving your finances and giving yourself a more secured future.

If you like the points below, you might want to consider saving;1. It offers peace of mind2. It gives you a better future3. You can plan your short-term goals4. It gives your family security in case of an unfortunate event5. Teaches you discipline and self-control6. You learn the act of delayed gratification and lots more.

Let’s try it today. Every penny counts!

You can listen to the podcast on this topic here

© Christy Chris 

Africa Daily News, New York

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