Most people give weird reasons when asked why they don’t save money. However, most of these reasons and excuses are not valid at all. Your needs and requirements are always unlimited, and unless you develop some discipline, you will never save money in your life. The reality is that the only way to start saving money is to open a savings account and start saving now.

Money experts recommend that you should try as much as possible to save at least 12 percent of your monthly income. If you can manage to save little money on a weekly or monthly basis, it builds up over time and helps you to prepare for the future. Here are four reasons why you should start saving your money today.


Start Living a Stress-Free Life

There is nothing more stressful than having bills and debts that you do not know how and when you will pay them. These debts and bills may keep you up all night, put you on high blood pressure medication, make you irritable and even cause ulcers. High stress levels can even lead to death. However, saving allows you to pay your bills on time and avoid the stress of dealing with late payment penalties and debt collectors.

Prepare for Financial Emergencies

The biggest reason why you should start saving today is to prepare yourself for financial emergencies that may creep up. You never know when you will lose your job, become sick, or experience a divorce and be in the need of urgent money. Such life emergencies can cost you a lot of money and peace of mind. The good news is that you can always prepare for such emergencies by saving a portion of your monthly income.


Plan Your Retirement

In case you choose not to save and invest now, prepare to lose your money to inflation and you risk being bankrupt at the time of your retirement. Keep in mind that retirement means that it is time to relax and enjoy the fruits of your hard work and not a time to scrimp and worry about your financial problems. To enjoy your retirement time, it is essential to start saving today and allow your cash to build up so that when you retire, you will have a satisfactory pot of cash to cater for your needs.


Take Charge of Your Annual Expenses

If you are planning to have a good and stress-free financial life, you need to start saving for your annual expenses. These expenses may include the funds that you will need for friend and family gifts, minor home repairs, car maintenance and repairs, property taxes, fixing appliances and possibly income tax. It may be tempting to refinance your mortgage to pay off debts or use a credit option to pay off the high-interest credit cards. It is also dangerous to endlessly put your expenses on credit without paying them off. The best way to control and manage these types of bills is to save money in advance.