Why should one save money? I earn enough to meet my monthly expenses so why should I save? Is saving important? Why not live paycheck by paycheck? These are some of the questions that we are going to discuss in this article.
Before going into why one should save let us discuss what you want your life to be
Do you want to have stress, tension, and pressure in your life? Do you want to work for the rest of your life to earn a livelihood? Do you want to be a slave to money? Do you like slavery? Do you enjoy bondage?
Or do you want a life in which you are your boss? Where nobody can force you to do what you don't want to do. And money is your slave. Money does what you want it to do. It works hard for you.
As humans, we don't like slavery and bondage. We all want to be free. Free not just physically but also psychologically.
And the first step in being free in life is to be financially free. Financial freedom is when one does not depend on anyone/anything for their financial needs. The money that the person has accumulated is working hard for his master so that the master need not work. The money is generating enough income for the master to live a comfortable life.
Just imagine what life would be like if you achieve that. It's like you don't have to do anything that you don't feel like doing. Whether you work or not, your money is working very hard for you.
You can do the things that you enjoy and find meaningful. You would only do things that interest you as you are not forced by your biological needs. You have already taken care of that.
You have broken the bondage of money. Money is your slave, not the other way around.
Now if we understand the significance of financial freedom, how do we achieve that?
The way to achieve it is hidden in its meaning.
Financial freedom means having enough money that generates an income equal to your monthly expenses.
So we have to accumulate that Enough amount of Money which generates an income equal to our monthly expenses.
Now how do we accumulate that Enough amount of Money?
Very simple by SAVINGS. As the saying goes-
"It's not how much money you make, but how much money you keep and how hard it works for you." -Robert Kiyosaki.
Saving money from your income is the only way you can accumulate the amount required for you to achieve financial freedom.
That is why savings are important. It helps you become free in life. It helps you to break the bondage to money & make money your slave. It's where freedom starts. Without saving one could not achieve freedom and hence happiness in life no matter how much money one makes.
The best methodology to save as suggested by The Warren Buffett is "Don't save what is left after spending; spend what is left after saving."
In a nutshell, if you want a life of freedom in which you are your boss, where there is no slavery and bondage, you need to achieve financial freedom, and to achieve that you need to save. That is why savings is important. It buys you a life of Freedom.
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