Savings

Savings[cryout-button-dark url=”#”]Are you saving for the future?[/cryout-button-dark]

 

The reason I’m saving for the future is that when reach the stage when I cannot work anymore, I will be able to use the savings to provide an income for my wife and me during our golden years. This objective has been a part of my DNA since I was in college. My parents grew up during the depression and knew the value of a dollar. I learned from them the need to save for the future. To save for your family’s plans, your kid’s college, a rainy day fund, and for your golden years. This advice has been great as both my wife and I saved during our hard working years and that money will see us through our retirement.

We also taught our kids the value of money and savings for the future. Both of our kids have worked hard during high school and ever since. They have saved for grad school expenses and are now saving for their own future lives. Our kids are just starting the working life but already know that saving is a key component to being self sufficient.

Planning savings for each major event in your life allows you to reach those goals. Each goal should have a dollar figure and timeline to achieve that goal. That way, major events such as buying a house, saving for retirement, buying a house, kid’s college, vacations, retirement, or an unplanned event, will always have the funding required to attain it. Having a savings stashed away also makes paying for those unplanned emergencies easy. Savings allow you to survive during the hard spells of being out of work and looking for your next job. Savings also makes it easier to buy the things you want such as a house, new car, vacations and other goods. It also makes it easier to fund your kid’s college costs and finally make your retirement easier.

That is why saving a little part of your paycheck is important to ensure your life is always on track and you and your family does not struggle unnecessarily.

What about you??