5 Ways Your Savings Can Change Your Financial Life

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Chinkee Tan
Chinkee Tan

Think of a time in your life when you had an unexpected expense.

It may be a medical emergency in the family, recovering after being hit by a calamity or losing a loved one through a disease.

Being sick is already bad, what’s worst is when you don’t have enough savings to pay the bills.

During those times, did you quietly wish that you saved enough money in order to have something you can spend for your emergency?

Not all Filipinos make SAVINGS a priority. It usually takes a financial crisis in life to remind people the real value of putting aside money.

Here is a list of how saving money can change your life.

#1: SAVING MONEY CAN HELP YOU DURING EMERGENCIES

There is nothing more frustrating than not having enough money when you need it
the most. Always set up an emergency fund that you can only access during uncalled
for situations. You not only address the need, you also spare yourself the stress of looking for financial resources.

#2: SAVING CAN HELP YOU PAY YOUR DEBTS

Intentionally putting aside money every payday in order to pay off debts will
eventually give you benefits. Getting rid of your debts is part of achieving financial
freedom. You will not be able to fully enjoy your financial success knowing at the back of your mind that you still owe people money.

#3: SAVING PREPARES YOU FOR RETIREMENT

A retirement fund is a MUST. It is comforting to arrive in your retirement season
confident that you have put aside enough money to help you live comfortably in your
retirement age.

#4: SAVING GIVES YOU PEACE OF MIND

Knowing that you are ready for any kind of emergency or unexpected expense
makes you confident. And when you are confident that your are prepared for any
eventuality, you can sleep more soundly at night.

#5: SAVING LEADS YOU TO FINANCIAL FREEDOM

The discipline of saving is one of the foundations of financial freedom. When you are
able to prioritize your expenses properly early on in life, you are laying down the very basic foundation of financial freedom.

THINK. REFLECT. APPLY.
How do you think saving money is changing your life?
Are you saving money for future emergencies and needs?
How much can you set aside for your savings every month?

If you want get more tips on savings, please grab my latest book “Diary of a Pulubi”. To know more, please click this http://bit.ly/2yPVcDf

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