Saving Money: An Essential Practice

Imagine that you have a friend who doesn't have any money in his or her savings account. Convince this friend that it's important to create and follow through with a savings plan.

Money is a valuable possession in todays society, and as with most valued items, one should constantly possess a ration of it stowed away for any upcoming occurrences. To accumulate this coinage, many people attain a savings account at a bank. This indemnifies that your money remains safe and readily obtainable. There are many motives as to why People ought to bank money. One goal is for college. Also, one should save money in the circumstance that they fail to their job. Retirement is another good reason to begin saving money. Saving money is essential if one desires to live a peaceful life.

College education is an important asset to acquire if one desires to obtain a decent job . A decent job will help one to get a lot of money but to go to a good college, a large amount of money is also required. Most college prices range from fifty to a hundred thousand dollars. One way to acquire this money is by saving money. If one is to save an amount of money every year from a young age, when time comes for that individual to attend a college he/ she will have a sufficient amount of funds to compensate for it.

Every year, company's terminate countless jobs, leaving various individuals with no means to support themselves. Many of these individuals can become homeless. Money becomes a necessity in these dangerous times. If an individual has an amount of money set aside, he/she can use this money to acquire necessary items for themselves and their families. The money will aid one financially until they are able to acquire another job.

Just as one must be a certain age to acquire a job, after one exceeds a certain age they should no longer attempt to attend to a job. With old age comes memory loss and many other side affects that render an individual unable to complete tasks a certain job requires. At this old age, retirement is the way to go. But to retire, one must have an amount of money saved up to be able to live the rest of life as peacefully as ever. Not only should they have enough money for necessity's, but there should also be enough money to allow a person to enjoy old age. A savings account for retirement is commonly known as a retirement fund, having a retirement fund ensures that one will not have to continue working after old age.

In conclusion, saving money is an essential habit that should be practiced by everyone. Saving money will allow one to attend good colleges, deal with emergency's easily, and live a happy retirement. If one is to begin saving money from an early age, they will have the privilege of later living a financially stable life. In the end, an amount of money save could just be the difference between a good life and an horrible one.