Is Saving Money Important

Posted by Grace under Personal Finance on July 31, 2015

One of the reason for saving money is to prepare financial future. If you didn’t save any amount of money to prepare for your retirement, you have to start today. After you have read the tips and guides in this page, do not waste your time, act immediately.

There are many reasons why people save money. They do save money for their own sake or for the sake of country’s economy. Let me tell you some story when I talked to my older brother. My brother is studying in the prestigious university.


I know the tuition fees in college has been become very expensive nowadays especially when you are studying in that university.

My brother simply replied and said;

I know it is expensive but should I quit and drop in college? Of course I have to do something to make enough money to pay for my tuition every semester.

My brother is a working student. He used to work in a fast food chain selling burgers and fired chickens. He also work as a janitor. Now, my brother is a registered engineer. He is my cousin.

What I have learned from him are;

  • I should save money for education.
  • Do not think education is expensive.
  • Education is a great investment.
  • Do something to make money.
  • Instead of relying on our parents, why not work and make money to pay for our tuition fees.
is saving money important

Image Credit: Ibrahim Areef on CC 2.0 – Save Me

Why People Save Money?

People do save money because they want to buy something they really need. It is not wise to save money and waste as fast as you can. In my observation, the reasons why people save money is to buy the following things;

  • People want to buy a car.
  • People save money because they want to buy a house as their shelter.
  • Some people save money as an investment and business capital.
  • Some people are really preparing their financial future. They want to retire early, happy and rich.
  • Parents are saving money for the education of their children.
  • Some people save money for a grand vacation.

Why is Investing Money Important?

There are many effective saving money tips written in Browse any articles and read them one by one. Choose the strategy that suit your needs. However, we recommend that you should not save money, instead, invest your money and make them grow overtime. That’s because investing money is very important. The following investing guides can be useful;

  • You can invest money in the stock market.
  • Invest money in mutual funds and trust accounts.
  • Buy government savings bonds.
  • Buy a real estate property.
  • Own a business.

Update: A reader asked “why is saving money for retirement important?” Our response are as follows

If you want to retire rich, happy and retire early, you need to save money. If you prefer to retire with enough money to spend for a lifetime, then, saving money is very important.

What about you? Is saving money important to you or not? If you say yes, please use the comment box and explain the reasons why you are saving money. Thank you!

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