Saving is a great thing to do, and on several aspects and occasions, people are encouraged to save, and the reason for that isn't far-fetched, given the fact that whatever we save today will come through for us in ways we didn't expect in the near future. One of the core parts of being a financially responsible person is having good financial management skills, one of which includes the ability to save from what we earn, and as we all know, we can save towards anything, such as house rent, emergency funds and whatever it is. So why then is it good to save regularly, and what are some of the benefits of avoiding unnecessary spending? Below I'll state my opinion on these.
Saving has lots of benefits, such as the fact that saving helps one stay financially safe and less in danger of getting caught unprepared by situations that demand financial or material needs. Take, for instance, someone who doesn't spend all they earn but saves some; they can easily have something to fall back on in case of emergency. They can also easily grab an opportunity to secure something that would play a good role in their life and comes cheap, whereas someone who doesn't save might not be able to grab such opportunities. Saving also helps you pay for different things because one can easily save towards different targets or goals, such as school fees, house rent or emergency funds.
Talking about ways to reduce unnecessary spending, there are lots of ways to do that, one of which is having a well detailed budget on what we need and would spend on, hshong such budget and follow it to the later would help us stay grounded not to go beyond what we've itemized in our budget. Another is the need to make sure what we buy and the things we put on the list of budget I things we truly need and not something we just want because others have it. Only buying things we need and in a systemic format gradually would help us reduce financial burden and not be overwhelmed by buying too much to the point where we go broke and can't afford other things like savings for the raining day.
That's about it on my take on saving and being a financially responsible individual who doesn't get overwhelmed by the effects of a lack of proper spending and financial management.
All photos are mine.
