13 Reasons Why I Love Saving
Money is a powerful thing and if you manage it correctly, it can change your life for the better. Oftentimes, when speaking about saving money vs spending money, there is the question, "What is the point of saving money, if we are all going to die?"
People ask that question because you cannot take the money with you, so you might as well enjoy it while you can. I think people say this because society tells us that life is better when you spend more money. As if the more you spend and accumulate, the happier you become; however, I argue that the more you save, the happier you become.
In this video I give "13 Reasons Why I Love Saving."
1. We're all going to die
We are all going to die and that is a fact, but I think in order to maximize your time on this planet you have to save money because if you spend all of your money, then you have to work more. However, when you have money, you can have more control over your time and do what you want in life.
2. You can't buy your way into happiness
The problem with trying to buy happiness is that society is constantly evolving. Once you have the latest possessions, the new one comes out and you have to get the next one. It is a never ending cycle of spending money in the search of happiness.
3. The lack of money can make you unhappy
Money won't make you happy, but the lack of money will make you unhappy. We need more to survive and pay bills. If you are unable to meet your basic life needs and are constantly worrying about money, then that can effect your happiness. When you have savings, you avoid the unhappiness that comes from the lack of money.
4. Money can improve your life, but only to a certain point
Constantly spending money isn't going to improve your life, but spending money on certain things will. That means "meeting your basic life needs plus a bit more." For me, I spend 40% of my income and save 60%. I believe that is how much I need to be happy and I save the rest.
5. Sitting money gives you peace of mind
Sitting money is money like my emergency fund and investments that I do not plan on spending for a while. It is a nice feeling knowing that if I lost my job or needed to cover a big life expense, I could cover it financially. When you spend all of your money, you are depriving yourself of the peace of mind that comes from savings.
6. Sitting money makes you less desperate
If you lost your job and had no money in savings, you would have to take the first thing that comes your way. That often means bad bosses, low pay, and no benefits. However, when you have money saved, you can wait it out longer until you find something that is good for you.
7. Sitting money makes you more money
Having money invested in the market can make you more money over time. I invest in index funds, which on average have a yearly return of 10%. Although that is not guaranteed, if you are patient, your investments will start to be a passive income source making you more money.
8. You don't have to be as frugal
Frugality means different things at different phases of life. I have noticed as I get older, my standards get higher. When you have money saved, you do not have to be as frugal and redefine what frugality means to you. I will always be frugal, but having money saved allows me to change my definition of frugality over time.
9. Delayed gratification is better than instant gratification
Delayed gratification is "the ability to wait to get what you want." Many people use money to get instant gratification, but this often fades away very quickly. If you save and delay your gratification, it will be much better than instant gratification.
10. You don't have to base your decisions off of money
When you do not have money in saving, you have to make decisions off of money. However, if you have money saved, then you do not have to base your decision off of money.
11. You're able to take more risks
Money equals options. When you have more money saved, you can use that money to allow you to take more risks in life.
12. Life really is better with less
In my life I have learned that happiness comes from community and experiences, not from stuff. When you have less, you appreciate what you have on a deep level. When you embrace living with less, saving becomes very easy.
13. To live life on your terms
The point of having money saved is to live life on your terms. When you have money saved, it gives you options and you are able to live your life on your terms.
I do not believe that the more you spend, the happier you become. I would prefer to save my money, use it on things I enjoy, and let it allow me to live my best life!
28 сен 2024
