Do you like to buy your morning coffee? Do you smoke cigarettes? What’s your regular guilty pleasure?
If you put away tiny amounts of money every day, they can really add up over time. The key to saving is starting small.
These are good reasons to save:
- To prepare for unexpected emergencies like hospital bills, car or house repairs.
- To buy expensive items in the future like furniture, appliances for your house, or a holiday.
- To plan for retirement. Do you think you can live on a pension alone? Putting away extra money can help you live more comfortably when you retire.
- To be able to invest. You may not have enough money to invest now, but you can save enough for future investing. Short-term plans can turn into long-term success.