Why and How You Should Start Saving

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You might have heard this many times.. but really why start saving? Just think of the needs you have, your need for basic commodities such as food, and personal emoluments, responsibilities like paying rent, electricity bills and water. You also want to have fun and travel. Not forgetting those unexpected issues that you need to take responsibility for financially.

Don’t keep your cash in the house and use it whenever you need arises or keep it all locked up in a safe. Although a safe is somehow secure, you never know you could be coerced into giving it up. So why really save?


You need to to have the assurance that you still can pay for those unexpected expenses or unforeseen circumstances. In a recession many things can happen, in particular there is the risk of losing one’s job. There are tonnes of places you can save your money chief among them a bank.

In a bank, and not just any bank, choose a trusted bank. So go to a bank or building society and register for a savings account to keep your money safe. Money in your savings account in the bank earns interest so it proves to be an investment over time. In addition you will be able to keep track of how much money you have withdrawn, input or received in your savings account.


In this day and age loans are very unavoidable. The great thing with saving you can be able to enjoy loan options from your bank. Whenever you need a loan you can always approach your bank. However, loan payment differs with the type of bank. So it is advisable to partner with a bank that doesn’t charge a lot in interest.

How to effectively save

Budget on your needs according to the period of your income/salary gain rate. For example, if you earn your income monthly budget for that month’s spend and save the rest in your account.

Record your expenses. This is to look at your successes in your budget and work on the unaccomplished ones.

Clear your debts. Debts may hinder your saving ambitions if not cleared in time.

Extra cash should be sent to your savings kitty and this means that you should be very discipline to achieve this.

Have goals. If you have goals everything will be simple since you will know what you are saving for. This will make you economize your spending habits and save more!