Ever since I was a child, my mom would constantly tell me to save money. There were times I get to save money (which makes my mom very happy) and at times no (which mom starts to get mad at me). Come high school and college, mom still would remind me to save money. No matter how hard I tried to save money, I still get to spend it mainly on food. When I started working, that’s where I was able to fully realize what my mom’s been saying all along.
1. When one starts to invest early, he/she won’t have a problem when they grow old.
I know from experience that it is very nice and fulfilling to have lots of money in your bank account. Because of that fulfilling feeling, I get to spend it on unnecessary things. This is one of the reasons why we should invest our money. When we start young, it conditions our mind to stop spending our money on unnecessary things and instead, put our money through insurance companies or banks ( I still highly recommend to put your money via insurance companies). As we grow older, our money starts to grow as well and when you start to reach the age of retirement, you won’t have to worry since you know you were able to invest your money properly. One will be able to retire happily with no worries.
2. This can be used for emergency fund.
When something bad happens to you, where do you get to depend your money? Of course, with the money you earn from work which is your salary. But do you think this will be enough to support your emergency needs? Of course not. It is really expensive when something unexpectedly bad happens to you. You will have to pay for the hospital bill, medicines needed, check up etc. Putting aside an emergency fund will assure you that you do not need to use your credit card.
3. You get to create a long-term goal.
Want to travel the world after 10 to 20 years? Of course you can ! You can do this as long as you set your heart and mind to start saving your money and invest it. In this age, one might think that in order to invest your money, you need a super big amount of money in order to be assured your money will grow. Do not fret, my dear friend. There are insurance companies in the Philippines that offers policies where you can do it in a staggard way. You can save via monthly, quarterly, semi-annual or annually. You just have to approach any of these insurance companies and they can help you achieve your goals and dreams.