Occasionally I will come across someone who has no savings goals at all. Naturally, they will then spend all their money since they can’t think of any reason to save it. Others feel like giving up on their savings because their goal is getting further and further away – looking at you house prices.
Just a short note today to say that you don’t need a reason to save. Saving money is always a good idea, even if you don’t have any current plans for it.
You never know when life will throw you a curveball, or conversely, an opportunity.
Life can be cruel. Job losses, permanent injuries, divorces, and so on. Having money on hand will provide security and peace of mind while keeping your head above water, during such turbulent times. Having room to move when life doesn’t go your way is an incredible thing.
Life can also present unexpected opportunities. Business opportunities, unexpected slow down in house prices, unexpected investment opportunities, and so on. Again, having money on hand for these moments allow you to pounce immediately and take advantage of these opportunities. Life can swing your way unexpectedly.
Saving for the sake of saving is highly underrated.
There is no point spending more money than you need to just because you don’t have a plan for this extra money. That is just a waste.
You want to be in a position to be able to tackle life’s curveballs, as well as taking advantage of life’s opportunities.
Financial security and financial freedom will never go out of fashion. That should be enough of a goal alone.
The information contained on this site is the opinion of the individual author(s) based on their personal opinions, observation, research, and years of experience. The information offered by this website is general education only and is not meant to be taken as individualised financial advice, legal advice, tax advice, or any other kind of advice. You can read more of my disclaimer here