Let’s start with two scenarios,
Either you don’t save money in your 20s and work for the rest of your Life OR you Save money in your 20s and drive your life the way you want.
So, Which sounds Great? The second one right? Nobody wants to live a life which is controlled by someone else AKA The BOSSS.
Why should you save money in 20s and forget about all the Fun that All your friends might be doing by spending their money?
Well, If your friends are spending their hard earned money in shopping or traveling I would say they are not smart.. Yes they aren’t if they are not saving their earnings in their young adulthood.
We all know that money and friends never showed up when we need them the most. For that being said we are the ones who actually never save money for emergency situations and spend it on unnecessary things.
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So, Let’s begin with main reasons why you should start saving money RIGHT NOW.
Helps you retire early
Who do not dream about life without working and to travel around the world and to play with grandchildren in future? We all do and no doubt early retirement is a great idea. But the key having enough money for early retirement is to start saving early and When you get enough money in your accounts You can invest that money to create multiple streams of income, And that’s how you gonna Live your Dream Life.
Prepares you to buy your home early
Does it make sense to buy property early? Yes It does, buying home is one of the secured investment that you need to do in your 20s. If you go in to purchase property early in life, you made a security for yourself and for your family.
But how you gonna do that? It all starts with saving money, It’s fine if you are living on a tight budget, just get started by setting aside a small amount each month and cut down your unnecessary expenses and by doing that you will make a habit to control yourself in spending money and once you have some savings you can easily use them for Down Payment of your Home.
Saves you from debt trap and helps you to start your own business
Most of people think that you must go into debt if you want to start your own business but it’s not true, you can start your own business without getting into debt trap.
It might take some time to save decent amount of money for your business but it’s worth it, You’ll be able to call your own shots. So instead of spending money on extra things start saving for your future business.
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Helps out in emergency situations
Who knows what future holds? Many of us fails to prepare for future emergencies despite of knowing that unfortunate situations can pop up any time, but an emergency fund can save you from these situations so you definitely need to make some tiny sacrifices and start saving now for unwanted situations.
Saves you from low qualities items
Inexpensive products sometimes come with cheap quality, why wasting money in useless things when you can buy good useful stuff by spending few more dollars?
Invest your money wisely!! Single time investment in an expensive decent quality product is better than spending money multiple times in cheap products. So, saving money will help you in spending your hard earned money in decent quality items.
Helps in upgrading lifestyle and settling down
Well we all want to settle down as soon as possible but if you are not financially independent then you have no other option except to work hard and save money, so it doesn’t make any sense to spend all your money if you have it in your 20s, you must know the difference between what you need and what you want.
It would be wise to Start saving your money for your future, it’s never too late!
Helps you increasing your good deeds
Sometimes we don’t realize that there are people who are more needy then us, your money can help someone who even don’t have anything to eat so remember those people before spending your money.
Few dollars won’t affect your bank balance but can make a huge impact on others life!!
Do good for others and It will come back in unexpected ways..
In a nut shell, You should start saving in your 20’s if you are able to. Small saving will add up and you will be able to do things that people at your age can’t do.
Do Something Today That Your Future Self Thank You For.