There is a millionaire inside of all of us. Big or small, loud or quiet, we all have a voice that opposes impulse buys and temporary pleasures. Whilst it is not always easy to save and pass up that glorious drink at the gas station or new fun gadget, it is always more beneficial to save, be prepared, and be thoughtful with your money.
There is a common misconception that the majority of people have built up an adequate savings account. It’s easy to feel alone and against the world when we see our own inadequate savings, but you are not alone. Careerbuilder.com found that 78% of people in America are living paycheck to paycheck. Not to say this is any sort of more unsatisfactory lifestyle, but being prepared for the hardships that are natural in life is important. Many times through life, there will be unexpected events that will bend, and sometimes break our finances, but this does not need to be the case for you.
Don’t Let Your Money Own You
As the bills, food, insurance, and all of the other expensive pieces of life pile up, money can become daunting. In this capitalist world, where inflation runs rampant and everyone is trying to get the most for their product, it can be hard to see that light at the tunnel. Saving, however, is one of the best ways to help you feel in control of your finances, and your life.
Unfortunately, life throws us wrenches on a regular basis. Speeding tickets, injury, natural disaster, or death in the family are all unexpected, but quite frequent events, and pricey ones too. Having saved money can be an amazing cushion to financially fall on. Having to take out debt for these instances could have catastrophic consequences for years down the line.
Having Extra Money is Good
There are many, many, many ways to spend our hard-earned money. According to howmuch.net, the average American spends $61,224 on food, housing, transportation, healthcare, insurance, and other goods, while only a mere $6,017 goes to savings. When put into the perspective that a simple uninsured broken arm can cost $16000, something that’s a risk to all, $6,000 a year is not nearly enough. Not to mention, life is hectic, and bad things happen almost more frequently than not.
Putting emergencies aside, all of us have our guilty pleasures and expensive wants, whether that’s new cars, golf clubs, books, or baseball mitts, all of these can become very expensive, very fast. $6000 a year is going to have a hard time keeping up with that. Along with that, saving up to these big milestones is motivating, relieving, and gives us a positive feeling of accomplishment.
Saving is Easy!
Many, many people have had problems with not saving in the past. Because of this, there are tens of solutions online. Whether it be Dave Ramsey’s cash envelopes or simply budgeting away $1000 a month, there is a system out (get training on how at QubeMasters.com) there that will work for you, as long as you put forth the effort. Good luck with your saving pursuits!