Wanting to feel good is a major motivator in much of our decision making. With spending, it’s about feeling good right now. With saving—and this may surprise you!—it’s about feeling good now and later. Not convinced? Read on to find out why you should feel good about saving.
Saving reduces stress and anxiety levels
Many studies have linked financial stress (like not having enough savings) with depression, anxiety, heart attacks, and high blood pressure. Your mental and physical health can suffer.
Establishing a savings habit as part of your budget will eliminate the stress of not know if you’ll have enough money to pay all of your bills. An emergency savings fund will also protect you in times of crisis—like losing your job or having to pay a large, unexpected expense. With saving, you don’t have to spend time worrying about an uncertain financial future!
Saving gives you freedom
Who doesn’t love more freedom and more choices? Saving money gives you freedom to choose to do things that require immediate access to cash and it gives you the freedom to avoid making tough decisions in a financial pinch.
Now, it will perhaps take some time for you to have enough savings for that big investment—like an extended vacation, a car upgrade, etc.—so how do you make the journey of saving enjoyable? Savor small joys in life that your budget already affords you, track progress toward your goal, and surround yourself with positive reminders of what you’ll soon achieve!
Saving money is good for your sense of accomplishment
Setting a saving goal and working to achieve it can be a huge boost to your mood and sense of accomplishment.
Saving secures your future
Saving money now, even just a little bit, can ensure you avoid money stress in the future.
Saving is good for relationships
If you haven’t heard it before, money worries are a top reason for family and relationship strife. Arguments around overspending can be overcome by setting a budget and saving.
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