Why would someone save money and buy money with such easy credit? If you want something, take out the plastic and pay but who knows how long. If you can pay the monthly payments, everyone does; What is the problem with credit cards. Unfortunately, this way of thinking makes sense for many people today.
- Become financially independent
The criterion of being depends on your companion or who you talk to. The concept of “rich or wealthy” is a financial independence and savings that you can rely on. Financially speaking about your own step means being able to make different choices in your life than earning a salary. Helping one another, leaving a job or another in the middle of a job or another, or working in an elderly or working relationship. pull back when you want instead of working because you have to do it. Financial independence does not mean to be rich, but if you cannot rely on compensation, you can feel right beyond your wildest dreams. Trusted savings are what you need to become “rich,” no matter how you define it.
- Annual expenses
If you want to have a good financial life without stress, you have to save your annual expenses. This may include money for gifts, holidays, vehicle maintenance, minor home repairs, equipment repairs, property taxes and possibly income taxes. It can be tempting to refinance a loan to pay high-interest credit cards with a line of credit, but it is dangerous to pay the loan fees without paying them. The best way to manage these expenses is to save those expenses in advance. This not only saves you money, but also gives you peace of mind.
- Unexpected costs
What do you do if your car requires major repairs? Do you have between 500 and 3,000 dollars at hand? What happens if you are in your home or are you living in a leaky building? You cannot always rely on the bank, which gives you money for all these things. It’s better to foresee the worst case and save money.
Although we hope there are no emergencies, we all know they are happening. A member of staff may develop a health problem, may need to make an emergency trip, have an accident or breakdown of the car, bad weather could flood the basement, or break the fun of a loved one. Any of these emergencies can be costly and we all know that from time to time we will face an urgency. So why not be prepared rather than potentially become another victim of an emergency.