If you are one of those who wait until they have some leftover money to start saving, you are missing a golden opportunity to achieve financial freedom.
Do not be of those people who still think that savings don’t get along with the debts. It is true that most people believe that what we call “saving” is the money that is “left over”; and it is a mistake to think that way because money is never left over. Consider that saving is simply the part of your income that is not destined for consumption; if you see it this way you will understand that Mr. Savings and Ms. Debt can live together happily ever after; you just need to be aware of what is truly important to you, to have ideals, will, and a certain discipline in terms of how you manage your money.
If you still haven’t started saving, this is the time to do it. There are many reasons, but here are some:
Saving makes it easy to plan your future and achieve goals in life; you will reduce economic dependence on family and friends; you will have greater capacity to respond to emergencies or other unforeseen contingencies; You will not need to contract certain debts that may be difficult to pay; you will be able to plan your trips, holidays or any other recreational activity that you like; you will have some economic slack to help improve the quality of life of your family; you will feel less stressed or overwhelmed against the economic problems of everyday life; You’ll make better decisions regarding your future, your studies or work; you will go building a financial profile that will be helpful when you want to borrow money to purchase your home or buy a vehicle; you also will go consolidating a way of thinking that will allow you organize your income, prioritize your expenses and live without major upheavals after retirement.
You see, saving has advantages that although almost everyone recognizes, many decide not to use. If you are one of those people who find it difficult to start saving, I recommend that at the very moment in which you receive your monthly or biweekly income, set aside a small portion for savings and power it up by trying to spend less on candy, soda, coffee, outings with friends or eating outside the home. Believe me, it is not difficult; you should just keep your commitment to grow the amount of money saved and in the end you will see that it becomes a healthy lifestyle.
REMEMBER: never think you’ll save the money left over and do not expect to have a better chance to start saving. Saving is one of the great tools we have at hand to build the future we want.