We all have credit cards that we could use to spend in case we need money. In case of an emergency when we don’t have cash, we can use our credit card so the question is why should we save money? The thinking behind this is the main reason we need to save money. Here some of many reasons why we must save money.
The number one main reason that I want to save money is I want to be financial independent. That is I don’t want to rely on anyone else for my financial needs. Even after I retire I want to make sure that I have saved up enough. You can save up for your own retire through SMSF superannuation. Visit this link http://acumenaccountants.com.au/services/superannuation/ if you need more info on SMSF superannuation accounting services.
Beside saving up and being financial secure keeps you free and you can take that vacation you wanted and have nothing to worry about paying off the credit you had used because you will not have used it. We don’t need to be accountants Box Hill to figure that out.
You will have situations where you will need money and a lot of it. For example if you want to buy a house. The bank won’t lend you money without a down payment and you can’t get a loan for a down payment. You need money and that’s when you wished you had some money saved. Same goes when buying a car. You may get the job down through your credit card but at what 20% interest rate? If had save enough money for a good down payment you may be able work around options.
Another important reason is when you have to bear unforeseen expenses. Like for example a tree branch fell on one of your roof and broke. You need to quickly fix it before it before a rainy day. You can always wait on the bank to lend you money on that as well. If have money save up you can sort the problem faster before anymore expenses such a wet house inside.
Unforeseen expenses may occur during emergencies. A family member or yourself comes a across a health issue or an accident and you need immediate financial solution. If you have to fly over to a funeral of a close loved one’s funeral. These emergencies may be expensive so why not be prepared with these situations than become financial troubled.
At the end of the day we want to have a good life. There many things in both personal lives and businesses that we come across unexpected things that we cannot control. Managing finances of your business and life is very important. You need to take control of your business’s and personal life’s financial affairs.