Why Is It Important To Save Money? Here Are 50 Reasons To Inspire You!

Dollars and question mark representing the question Why Is It Important To Save Money

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Is it really important to save money?

You might think this is a silly question, especially if you’re a late saver who is trying to catch up with their retirement savings.

But, if you still struggle to make saving money a priority, it might be a good idea to think about your own answer to the question, why is it important to save money?

Of course, there are those obvious answers that generally apply to everyone, like preparing yourself for the future and being financially ready for unexpected costs.  It’s just good, responsible, common sense.

However, almost everyone will say that they want to save money, but most don’t end up doing it. They admit it’s important, but they don’t make it a priority.

I think one reason is that they haven’t determined why it’s important to them personally. They haven’t defined those reasons that will motivate them to make the lifestyle changes needed to save money.

If you’re procrastinating with getting serious about your retirement savings, maybe this is an exercise you need to complete.  Take the time to define why saving money is important to you.

The benefits of saving money and improving your financial health are almost limitless. But, there are some reasons that only live in your own heart. These are the most important.

And, once you align your saving habits with what you value, you’ll find that saving money has so many other benefits as well.

To give you some inspiration, I’ve put together this list of 50 reasons it’s important to save money.

Want some great ideas to save money? Download this *free* 50 Tips to Save More Money checklist!


1. To build good habits 

Almost everyone has been in a tough financial situation before. This could be anything from living paycheck to paycheck, being behind on your bills/rent, or being in lots of debt. If you attended college then chances are you already feel this pressure thanks to your student loans.

However, something as small as deciding to start saving money, by any means necessary, can redirect your financial ship and put you on a path towards financial health. Saving just a few dollars every day will eventually lead to better budgeting, financial decision-making, and a much larger bank account.

By making saving money a habit, you will slowly get to watch your bank account grow larger, feel prepared for an emergency, and stop stressing about running out of money. Saving money will put you on a path towards being financially independent.

Usually, the key to building better habits is to start small. Choose a money-saving habit that has a low barrier, like throwing your change in a jar at the end of the day, or canceling a membership you don’t use. Simple steps like these will strengthen your mindset around saving money and create a habit that becomes second nature.

2. To become financially independent

When you’re financially independent, you don’t need to rely on others to meet your financial obligations – such as banks, credit cards, family members, or any other source that could lend you money.

You would have money in the bank to meet any financial needs that pop up and wouldn’t have to borrow money from anyone. You’d also be 100% reliant on your own skills and talents to earn your income. This is a feeling that everyone strives to achieve.

By prioritizing your savings, you have money you can access to keep you from depending on others financially.

3. To be prepared for unanticipated expenses

Without a savings cushion in the bank, even a small unexpected expense can create a domino effect that leaves you paying more, going into debt, and derailing your tight budget.

This is a good reason to keep even a modest amount of several hundred or a thousand dollars in an emergency fund.  This way, you don’t stress about those minor expenses that inevitably pop up.

By saving just a small portion of your income every week, you can avoid having a minor emergency turn into a long-term debt.

4. To reduce stressMarried couple stressed about money

Your savings balance doesn’t just affect your wallet, it also affects your health – mental, physical, and emotional.  It’s just as much an expression of self-care as eating healthy or exercising.

Most people spend money on a daily basis and if you don’t have enough in your account to support your expenses then you can develop chronic stress. This will lead to overthinking simple decisions like buying lunch or making a small impulse buy at Target. Regular purchases can make you feel incredibly stressed and guilty about spending the money. Chronic stress can also lead to physical ailments like heart disease and a weak immune system.

When you prioritize your savings and have money in the bank, you can reduce your overall stress level, think more clearly, and focus on more productive things.

Saving money allows you to spend money stress-free for two reasons:

  1. You have already done the hard work – Spending after you have saved money from your paycheck is a little bit like eating an unhealthy meal after you’ve worked out. You have already put in the hard work that allows you to treat yourself!
  2. You have money for an emergency – The biggest risk of spending all of your income is that something will pop up that requires you to spend more money (that you don’t have). Having emergency cash reserves that you can tap into will help you avoid this.

5. To escape the paycheck-to-paycheck cycle

Living paycheck to paycheck means being one crisis away from financial ruin. It means selling a car and taking the bus, or moving from a house to an apartment when you encounter difficulties you can’t financially resolve. You live on the edge of losing the freedom to choose.

It’s stressful and can really suck the fun out of life.  I know, because I was stuck in it for many years.

If you don’t want to live paycheck to paycheck, two of the most effective habits you can develop are living below your means and saving money consistently.

Limiting beliefs will prevent you from taking the steps to improve your financial situation. Saving money will get you out of a poor money mindset that keeps you spinning your wheels.

When you start saving money, you begin to feel empowered and in control. Your mindset is strengthened with unlimiting beliefs, and you have the confidence to take charge of your financial future.

6. To stay out of debt

Debt usually starts small and seems manageable but slowly escalates into a huge problem that can hold you back in life.

A lot of people get deeper into debt because they don’t want to live within their means.  The ironic thing is, the more debt a person has, the farther away they get from being able to do so.

Here are few negative consequences of going into debt:

  • Debt can keep you from reaching your financial goals
  • Debt will damage your credit score if you can’t pay it back
  • Debt can add stress to your life
  • Debt can add stress to your marriage
  • Debt can keep you from spending money on what you truly value

(If you noticed I didn’t mention the interest you have to pay, I saved that for #7.)

Financing your lifestyle is no way to have financial security or freedom.  Avoid the trappings of debt by being intentional with saving money.

7. To avoid paying credit card interest

Paying interest is probably the most damaging consequence of credit card debt. Credit cards typically have the highest interest rates of all unsecured debt types. According to CreditCards.com, the average credit card interest rate as of April 2021 was 16.15%, its highest point in over a year.

It makes my stomach turn to think about how much money I’ve wasted on credit card interest over the last 30 years. All because I wanted stuff that I couldn’t pay for in cash. Maybe you can relate?

If you want to maximize your income and be in control of your finances, get out of credit card debt as fast as you can. Do everything possible to cut expenses, make some extra income, and stop spending money on unnecessary things.

Saving money is extremely important for avoiding credit card debt.  The less credit card interest you have to pay, the more money you’ll have for things that matter.

8. To do fun things

Girlfriends having fun shopping together

It’s important to save money to get out of debt and fund your retirement, but you should also use it to have some fun in your life!

Of course, there are plenty of free things you could do for fun, but it’s important to have savings set aside for those experiences that cost money. It’s one way to add some comfort and happiness to your life.

If you don’t have savings and you’re always having to deny yourself things you enjoy spending money on, then you’ll eventually lose all self-control and go on a credit card shopping spree. Don’t do that.

Put some fun money aside so you have extra cash to spend on the things that bring joy to your life.  Or, if you meet a savings goal then reward yourself with something that you’ve had your eye on. In fact, saving up for fun small-term goals is a great way to help you build the habit of saving.

A good example of this is to save a few hundred dollars and then spend it all on something fun. Go to the mall and buy new clothes, take a spontaneous trip, or buy yourself an upgraded phone model. This will make it much easier to make saving a habit since you know that you’ll eventually treat yourself.

Once you’ve done this exercise a few times, you’ll be motivated to save money for other purposes and bigger goals.

9. To live a healthy life

There’s no doubt that saving money is an important skill that will help you get ahead in life. Being able to save money will set you up to be healthier both financially, physically, and mentally.

If you’re not able to save effectively then it will be very difficult for you to buy the house, car, or lifestyle that you want. Having these things brings stability to your life, and creates an environment that supports your overall health. You can sleep better at night, maintain a healthy diet, and have the energy to exercise.

10. To pursue your passion

If you’ve ever been in a job you hate, then you know how frustrating this can be.  Many people get stuck in employment situations where they can’t quit because they’re just making enough to pay the bills, or they can’t afford to make any less.

If you have money in savings, then you’re able to pursue a career that you’re passionate about, even if the pay is initially too low to cover your expenses.  You can support yourself on your savings while you’re increasing your skills and working your way up the ladder.

When you have a job you love, then your best comes out and everyone around you benefits.  This leads to more promotions and increased income.  In the end, you love what you do and you make more money.


11. To have a sense of security

Knowing there’s cash in the bank to cover whatever life brings your way can give you a strong sense of security. Of course, you can’t predict the future and anything can happen.  But, when you make decisions out of a sense of security, then you can respond in wisdom instead of reacting in fear.

It’s important to save money to strengthen your financial confidence and assurance. Having a money mindset that’s rooted in stability will guide you toward better financial decisions.

12. To protect your financial future

Hands placed over a paper cutout of a family

Risk shows no favor.  Whether you’re on a tight budget or have a cool mill in the bank, you’re subject to risk. Thankfully, you can transfer many financial risks to insurance companies.

When you pay insurance premiums, the insurance company agrees to take on financial risks and protect you in the case of a financial crisis.

So, if your roof is damaged in a hail storm, or you have to undergo emergency surgery, the insurance company will cover the costs and you don’t go bankrupt.

You can also pay premiums for an insurance provider to cover part of your income if you become disabled, or provide a monetary benefit to your spouse if you die.

One of the most important insurance plans you should have as you go into retirement is long-term care.  This insurance covers the cost of assisted living facilities and in-home healthcare – both of which will drain your retirement savings faster than you can say wait, how much is the bill?

Without insurance to protect you against the risks that life will hand you, you jeopardize all of the hard work you put into building a solid retirement plan.

Saving money to afford the right insurance is *critical* so protect not just your financial future – but your partner’s and children’s as well.

13. To be a good samaritan

It truly is better to give than to receive, and the more savings you have in the bank, the more you can be generous with others. Finding opportunities to give your money away is how Dave Ramsey defines “financial peace”.

A meaningful reason to save money is to be prepared to give when you encounter a person in need. Maybe you want to help someone whose car broke down on the side of the road.  Or perhaps you want to treat someone who is down and out with a hot, filling meal.

These moments not only benefit the receiver but add joy and purpose to your life as well.

14. To help family & friends in need

My dad was a giver.  He was especially generous with his family and close friends.  He knew how much he was blessed and that he could’ve easily been the one struggling financially.

He was my hero in this way, and I hope to eventually have the resources to continue his legacy.

I think the most impactful purpose of money is to help others. But, if you barely have enough to cover your own living expenses, you won’t have any left to be generous.

It’s important to care for your spouse and kids first, but being able to help out extended family and close friends can relieve loved ones of burdensome financial stress.

Be wise with your money and build your savings.  Someday, you may be able to bless others with much-needed financial support.

15. To support your kids and grandkids

The Millennial generation has been hard-hit by not just one, but *two* major economic crises so far. Not to mention living costs that have exceeded the rise in wages and an overwhelming increase in student loan debt.  This entire age group is now plagued by financial problems that Baby Boomers never had to deal with.

Then, there’s Gen Z:  their children. Recent surveys show this age group has already experienced significant setbacks created by the coronavirus pandemic.

If you’re reading this and you’re in your fifties, I’m talking about your kids and grandkids.

You can help them in two ways:

  1. Save enough money so they don’t have the burden of supporting you in your old age.
  2. Save enough money so you can give them a financial boost if they need it.

Either way, save your money so you can support them as they overcome some major barriers to become financially independent.

16. To give more to your church

Money in an offering tray

If you tithe to your church, then you probably know that tithe means a tenth.  As Christians, my husband and I give 10% of our income to our church, as one way of putting God first and trusting Him to provide.

But, did you know that this is the *minimum* amount God wants you to give?  When He has blessed you with abundance, He wants you to give of your wealth, and not just from your wealth.

Giving over and above your tithe is making an offering to God. Then, you trust God (and your church leaders) to use that money in a way that will glorify Him.

When you make wise financial decisions that allow you to build savings, you have more to offer.  The wealth you build can be used to bless missionaries, ministries, and ministers.

17. To support causes that are important to you

When you’re pinching pennies, the world seems to get a lot smaller.  All you can think about is how you’ll get food on the table, fix your car, pay the utility bills, and get rent covered.  There’s no room to consider other’s needs.

Breaking out of the paycheck-to-paycheck cycle and building wealth and savings can free you to think about how you can help improve the world around you.

What causes are important to you?  How do you want to make a difference in the world?

Here are a few ideas:

  • Support disabled veterans
  • Fund a school improvement project
  • Give money to cancer research
  • Donate to your local children’s hospital
  • Buy food & personal care items for a homeless shelter

When you save money, you have the freedom to support the causes that are meaningful to you.

18. To protect relationships

Money has the capacity to put stress on your relationships if you don’t have savings.  If you get into a financial bind, you may be forced to go to a family member or friend to borrow some cash.  This can create friction and put your loved one in an uncomfortable position.

Living on a tight budget can also add tension to a marriage, especially when you and your partner don’t agree on how to spend what little you have.  Financial problems are one of the main reasons two people divorce.

Protect your relationships by building financial security with savings.

19. To set a good example

As a high school dropout, my dad went on to build a successful career as an airline pilot. I remember as a little girl seeing my dad pull out a large wad of cash from his pocket and thinking, wow! we’re rich!

That’s kind of funny to me now, because for all I know that wad of cash may have just added up to $47.

However, later in life, I would realize that we were, in fact, “well off”.  And, even though I understood that my father made a high salary, I was more impressed with his financial wisdom.

He paid cash for just about everything, from cars to houses to college to vacations.  He either had the cash to cover the cost, or he didn’t spend the money.

Although he didn’t teach me a whole lot about how to manage money, I’ll never forget his priority to only buy what he could afford to pay in cash.

When you have the wisdom and discipline to save money and pay cash for everything you buy, your kids will notice.  Set a good example for them by making savings a priority.  That one lesson could serve them well their whole lives.

20. To create a lasting financial legacy

Multigenerational family

How do you want your loved ones to remember you when you’re gone?  How do you want to take care of them even when you’re no longer here?

How you handle your finances today will either bless or burden your loved ones later. You have the control to create the lasting legacy you want for your family.

It’s important to save money today to build a financial legacy that will support your family for generations to come.

21. To help your kids with a college education

Paying for your kids’ college education is not an all-or-nothing decision.  Even if you know you won’t be able to pay for a full ride, you can still put a little savings away to help them with books, supplies, housing, etc.

It’s up to you how much you want to financially support your kids through college.  But the important thing is to put your financial future first Just make sure you’re on track to a fully-funded retirement, and that helping out with their education won’t put your financial security in jeopardy.

If you can swing it, your savings can help your kids create a brighter future.

22. To pay cash for cars

My dad always paid cash for his cars.  Having the cash to pay in full gave him greater control over negotiating a better deal.

Vehicles can lose 60% of their original value within the first 5 years.  If you finance the cost, you’ll sink even more money into it that you’ll never get back.

Save up and pay cash for a gently used, slightly older model that’s been proven reliable.  Paying cash for cars will minimize your investment in a depreciating asset and allow you to save money for other large purchases when you need them.

23. To afford nice things

When you have just enough money to get buy, it’s hard to pay more for quality. I can’t tell you how many times I chose to buy cheap furniture, cheap shoes, and cheap bedding (among other cheap things) because I didn’t have the money to afford the good stuff.

Of course, cheap stuff doesn’t last long and I would inevitably have to replace those things faster than if I had just paid more for quality to begin with.

Save your money so you can afford *nice* things.  You’ll value them more, they’ll last longer, and you’ll probably end up spending less money in the end.

24. For a down payment on a house

Home with for sale sign

If you’re ready to invest in your own home, you’ll need to come up with a significant cash down payment. This may take a long time to accomplish, so you’ll need to be very disciplined when it comes to saving money.

However, once you own a house (rather than rent), you’ll likely have the largest asset you’ll ever own.  Your home will have the capacity to increase in value, reduce your taxes, and create lasting memories for your family.  It’s probably the most important purchase you’ll ever make.

So, saving up for a down payment is very important if you want to experience all the benefits of homeownership. It will be a huge undertaking if you currently have no savings, but with consistency and commitment you can save up enough to buy your own house.

25. To pay off your mortgage

Dave Ramsey highly recommends having your mortgage paid off by the time you retire.  This may sound impossible if you’re a late saver, but don’t let that discourage you. Even paying a little over your regular monthly payment can result in huge savings over the life of a 30-year loan.

For example, on a 30-year, $200k mortgage at 4.1% interest, you could save roughly $28,000 in interest costs just by adding an extra $100 to your monthly payment. This would get your mortgage paid off 5 years early!

Saving money to pay off your mortgage will save you thousands on the loan, and give you more years as a mortgage-free homeowner.

26. For meaningful life events

Major life events can be exciting, upsetting, or overwhelming – and many times financially stressful.  They are significant turning points that you want to be financially prepared for.  Unfortunately, sometimes you won’t get a lot of notice when they happen.

Start saving money now so you’ll be prepared for life’s changes. Anticipate future events like your daughter getting married or moving for a new job.

Just because you’re not in the middle of a life-changing circumstance doesn’t mean you shouldn’t plan for it now. Being intentional with savings when life is stable will reduce stress when those inevitable changes arise.

27. To increase your liquid net worth

You may often see articles around the web about the net worth of wealthy businessmen or celebrities. It can be an impressive number to throw around, especially if the person has multiple houses and a large investment portfolio.

However, as I explain in my post about liquid net worth, this number is not an accurate reflection of a person’s bank account balance. Just because someone has a net worth of $10 million doesn’t necessarily mean they could go out and pay cash for a $5 million mansion.

Your liquid net worth measures the assets you own that can be quickly converted into cash. These could be stocks, bonds, CDs, mutual funds, etc. Assets such as real estate, collectibles, and retirement funds are not typically considered liquid assets.

A higher liquid net worth means you’re more prepared to handle financial emergencies without going into debt.  It’s essentially a reflection of your financial security.

Because cash is the most liquid asset you can have, saving money is one of the best ways to increase your liquid net worth. It’s important to save money so you can strengthen your financial security and be ready for life’s unforeseen circumstances.

28. To take advantage of calculated risks

Woman looking at investment portfolio online

Saving money can open up opportunities to take educated risks when they’re presented.  For example, getting in on the ground floor of a brand new business, or purchasing stock through an IPO (Initial Public Offering) of a promising company.

Or perhaps you want to start your own business. If you have a healthy savings fund, you can afford to take the risk of quitting your job or reducing your hours to get it started.

Having savings set aside gives you more choices when life hands you favorable investment opportunities. You minimize the risk you take while benefitting from the rewards.

29. To take advantage of fortuitous opportunities

Wouldn’t it be awesome if your friend gave you two free tickets to see a Broadway play next month?

All you have to do is buy the plane ticket.

I know, I know.  If you didn’t have the extra money in savings you’d probably just charge it.

But, why not save now so you’re ready when these amazing opportunities pop up?

30. To maximize compound interest

If you’re behind on retirement savings, you’ll need to maximize the power of compound interest to have enough money to retire. This means saving up as much as you can, as fast as you can, in a fund that grows exponentially over time.

Compound interest can do magic on your humble contributions, but it needs time to really show its impressive abilities.  Every day / month / year that you wait, you’re limiting the power of compound interest and losing money.

That’s why it’s important to start saving now.  Don’t wait another day.  Set up automatic deposits into a retirement fund so you can let your money and compound interest start working together to secure your financial future.

31. To retire on time

Did you read that last paragraph?  Saving money today has a very real impact on your future.  Investments need time to grow so they’re ready to support you in retirement.

Do you want to retire before you’re 80?  Start saving money now.  Make the lifestyle adjustments you need to make so you can free up more cash for retirement savings.  Get a second job, downsize your home, leave the college tuition to the kids.

If you’re a late saver, it’s time to get focused and get serious so you don’t have to keep working if you don’t want to.  It’s never too late to start saving for your retirement, but the best time to do it is now.

32. To be prepared for irregular expenses

1040 Form

Irregular expenses are those that are expected but tend to come at the most inconvenient times.  Right?

Actually, any time I have to pay for a bill that I expected but didn’t save for is pretty inconvenient.

Expenses like annual insurance premiums, car registrations, federal and state taxes, and my favorite … Christmas shopping.

These costs don’t go away, but they’re easy to ignore because they don’t happen very often.  If you set up a dedicated savings account (commonly referred to as a sinking fund), then you’ll be prepared when they pop up and surprise you (like they do every year).

That way, you can actually save your emergency fund for emergencies.

33. To have more options

It’s just a fact of life.  More money opens up more options. You don’t have to feel stuck in the circumstances you’re in when you have the cash to fund a better alternative.

Maybe you’re thinking that this doesn’t really apply to you.  You’re content with your job, your home, your vehicles, and your lifestyle. You don’t care about having more choices.

But, what if you receive a life-threatening diagnosis and your insurance only covers certain treatments? Or your son decides to uproot his family (with all your grandkids) and move across the country?

This is when you’ll be glad you built the habit of saving money. Having cash set aside will give you the ability to choose your next step, instead of having to settle for what is.

34. To have more freedom

Being disciplined and intentional with your savings will give you more freedom in life. When you practice delaying gratification today in order to save for a greater purpose later on, you’re building a life of freedom for your future self.

Freedom from debt, from stress and anxiety, from a job that sucks the life out of you.

Freedom to choose where to live, when to retire, and what to do with your life.

Money gives you the freedom to live on your own terms, so it’s important to save it if you want more flexibility in your life.

35. To support yourself until you die

Nobody knows when their time is up, so it’s a little tricky to know if you’ll have enough savings to last your retirement years. If you don’t want to run out of money and rely on your kids or the government, it’s best to err on the side of living longer.

Having multiple streams of income before and after you retire will minimize your risk of running out and increase your ability to save more.

Do what you can to overprepare with more savings than you think you’ll need. You don’t want to find yourself in an unfortunate situation where you’re really old, and really broke.

36. To not rely on uncertain income sources

Social security cards

Although it seems unlikely that Social Security will go under before you see any of the benefits, it is projected to exhaust its surplus funds by 2035. After that, if no changes are made, only 75% of the benefits will be covered.

With such uncertainty, who knows if you can rely on this income when you really need it?

Focus on what you can control:  your income, your expenses, and your savings. Save what you can now so government benefits are just icing on the cake.

37. To be able to negotiate for better prices

When you have cash in hand, you have the leveraging power to negotiate.  Getting paid in full with 0% risk is a seller’s ideal transaction, so they are often willing to make a better deal for the buyer who pays in cash.

Having cash savings not only gives you financial stability, freedom, and control over your money – it also gives you more power as a buyer.

38. In case of job loss or injury

The year 2020 is one for the history books, eh?  Who could’ve ever predicted that the whole world would turn upside down on a dime?

Within 72 hours, both my husband and I were furloughed from our “secure” jobs and applying for unemployment. Of course, we had no idea the circumstances would last this long.  It was a scary time, but we’ve been able to stay afloat even with reduced and inconsistent income for over a year.  Thank you, Jesus.

These past 12 months have proven that your job is not secure just because you’ve worked for the same company for 20 years (like my husband). Having a good cushion of savings in the bank can be the difference between riding out a storm and drowning.

Whether you lose your job or get injured and can’t work, being diligent with saving money will give you the security you need in such uncertain times.

39. To be prepared for a medical emergency

My husband’s employer was generous enough to pay our monthly insurance premiums even after he was furloughed.  That is, until they couldn’t anymore.  We lost our health, dental, and vision insurance at the end of 2020.

We had the option to sign up for COBRA (about $2,000 a month) or get a very basic $200/month plan until he returned to full-time employment. We could afford the basic option.

Then our son injured his hand while playing basketball.  I took him in for a doctor’s visit (which was covered), and he said he needed surgery (which was not covered). The out-of-pocket cost would be $5,000.


We had been on a pretty strict budget and saving every dollar we could, so we had the money.  (Thankfully, we didn’t have to use our savings because the COBRA stipend from the American Relief Plan had just kicked in, and we got our old insurance back.)

If we didn’t have the savings and we only had our basic insurance plan to work with, we would’ve had to put the whole surgery on a credit card.  Ouch!

You never know what life has for you just around the corner.  You may get injured in a car accident.  You may slip down the stairs and break your ankle.  You may get diagnosed with a life-altering disease.

Be prepared.  Put money in savings.  Take care of your future self.

40. To put money in a Health Savings Account

Doctor with prescription bottle

A Health Savings Account (HSA) is like an emergency fund for medical expenses.  The contributions you make are pre-taxed and can be used to pay for qualified medical costs – tax-free – forever. The money in your HSA never expires and remains yours regardless of changes in insurance, enrollment cycles, or employment.

The HSA is a great place to build savings because of its tax advantages, benefits, and convenience.  You can even invest your contributions once you reach a certain balance.

Adding savings to an HSA today will improve your financial circumstances in retirement.  Because the money always remains yours, you can use your savings to pay for medical costs throughout your life.

41. To be prepared for life’s uncertainties

I’ve already mentioned a few of life’s curveballs, but there’s always more, right?

Like, when your parent’s retirement fund gets low and they don’t have enough to cover their expenses.

Or, when your air conditioner unit decides to give up in the middle of summer.

Or, when your trusty car doesn’t want to work right anymore.

Or, when your taxes go up, your premiums jump, or your utility bills keep getting higher.

Seriously … I could go on.  But, you get the picture.

Sometimes it will be a real emergency, other times it won’t. But, when you have a savings buffer in the bank, you don’t need to distinguish between the two.  A surprise expense just becomes an inconvenient blip on the screen, without all the worry and drama.

42. To be a world-traveler

Okay, so this may not apply to you.  Maybe you’re content to stay local.

But … wouldn’t it be nice to have the choice to see other parts of the world if it ever tickled your fancy?

After all, don’t you think looking at the same scenery day after day will get a little boring once you’re retired?  You never know, you may get the itch to go to Paris for the summer or take a round-the-world cruise.

After you retire, racking up credit card debt to live out some lifelong dreams is not a wise strategy. That’s why it’s important to save money now for adventures that may await you in the future.

Another reason to travel abroad is to create lasting family memories and let your kids see what life is like in other parts of the world.  These experiences have the capacity to impact them for the rest of their lives and inspire them to greater things.

Save the money to create your own traveling experiences.  You’ll have great stories to tell, treasured memories to share, and an expanded understanding of the world we live in.

43. To maintain your valuable assets

When you pay thousands of dollars for an asset like a new vehicle or a house, you plan on it lasting for many years.  After all, you want to get your money’s worth, right?

Inevitably, there will be extra costs along the way.  Your house needs a new coat of paint, it’s time to repair the roof, or you want to get new windows  Your car will need parts replaced as it gets older, and you’ll definitely need new tires on occasion.

Just because you already paid for the asset, doesn’t mean there won’t be future expenses to maintain it.  And, the more consistent you are with maintenance, the longer that asset will last.

If you want the things you value to serve you for many years, make it a priority to save money for their upkeep.

Who knows? You may be living in that house for the next 25 years, or want to pass on your old truck to your teenager. Having the money to take care of your assets will ensure they last a long time.

44. To make improvements to your home

An updated kitchen

Besides just regular maintenance on your home, there will be times when you want to make some improvements to increase its value.  Realtors often recommend upgrading outdated kitchens and bathrooms to get the highest sale price.

Many people take out a home equity loan to cover these costs, but that will only increase the total cost over time, as well as decrease your profit when you sell.

If there are improvements you’d like to make, create a home improvement fund and start setting savings aside so you can pay cash. You’ll have more options when you’re ready, you’ll minimize the overall cost, and you’ll come out ahead when you sell.

45. To achieve your long-term goals

Whatever your long-term goals may be (greater than 5 years), saving money now is critical to achieving them on time.

The sooner you start, the greater the chances that you’ll be successful in reaching them.

I once read that people tend to overestimate what they can accomplish in a year, but underestimate what they can achieve in 5 years.

Let your imagination run loose by creating a big, audacious vision for your future.  Set your biggest, out-of-reach goals for 5 to 10 years from now. Then, start taking tiny steps by saving a little money every week.

Your future will be here before you know it.  Save your money now so you can live out your biggest dreams when it gets here.

46. To achieve your short-term goals

Having financial goals is important to create the life you want.  But, if your shortsighted spending derails your long-term objectives, you’ll never make any progress.

Long-term goals are made up of short-term goals. The latter gets you closer to the former.  If you don’t have a plan for today, this week, this month, then you’re only pushing your dreams further into the future.

Break down your long-term financial goals into smaller steps.  Find creative ways to save more money today so you can maximize your efforts as you make progress.

Don’t let temporary distractions derail your dreams.  Don’t wait for better circumstances to build savings and wealth.  Start saving today so you can make quick wins with short-term goals that inspire you to stay the course.

47. To take time off

Sometimes you just need to take a break.  In times of heightened stress or exhaustion, it’s critical to allow yourself time to rest and unplug.  Losing a loved one, going through a messy divorce, or dealing with a troubled teen are valid reasons to step back from work and focus on what’s more important.

But, if your job doesn’t pay for time off, you may feel stuck.

Havings savings set aside can give you the freedom to have this option when you need it. Then, when you go back to work, you’ll be able to give your best.

48. To be a good steward

Woman adding coins to jar

This is a term not often found in everyday language, but it’s an important concept in the bible.

The word “steward” means a person who manages another’s property or financial affairs. As a Christian, I believe that everything I have is a gift from God, and He expects me to be responsible with it. This includes my children, my home, my job, and yes … even my money.

Part of good financial stewardship is not falling into excessive debt, being faithful with giving, and avoiding reckless spending. All of these are connected to saving money.

When you save money, you’re practicing delayed gratification and self-control. You’re making future priorities more important than daily whims. You’re being a wise manager of the money God’s given you.

If you want to be a good steward of the blessings in your life, be a saver.

49. To complete your bucket list

It’s really starting to sink in that I’m going to be an empty-nester in a few short years.  For the past two decades, most of my time and energy have been consumed with my role as a mom. But, our youngest is graduating high school in a couple of years and leaving for college.

What then?

I know I’m going to struggle when this season changes.  It will take some time to adjust, but one way I can make it more enjoyable is by working on my bucket list.

Well, first I have to make a bucket list.

When our last chick is out of the nest, I don’t want to be stuck at home, with me and my husband staring at each other, wondering what do we do now?

I want to make the most of it.  I want to have new experiences, visit new places, learn new skills.  I want to build new friendships and invest more in old ones.

Most of this will require some degree of financial outlay, while we’re also ramping up our retirement contributions.

Saving money now is important so I can check off as many items on my bucket list before I get too old to get out of my La-Z-Boy.

What about you?  Do you have a bucket list?

If you don’t, start one today.  Add to it over time.  And let it inspire you to start saving more money.

50. To live the good life

What can I say?  Saving money can open up more doors than you can possibly imagine.  This important financial habit can help you create the life you really want.

The *good* life.

So, have I convinced you of the importance of saving money for your future?

If not, I encourage you to go back to the top and read this post again.  Find a reason to save that resonates with your heart and motivates you to prioritize your future.

When you get serious about saving, then you’re on the path to achieving your wildest dreams.

Don’t forget to grab your free 50 Tips to Save More Money checklist!


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