One Cent At A Time

Having a savings account is a great way to manage your money. You have the opportunity to take advantage of valuable earning potential while keeping your funds safe. It is not a good idea to keep your money at home, where it can be stolen. Here are seven reasons why having a savings account is beneficial for you.

Money for Major Life Stage Goals

Saving money for specific goals in your life is beneficial for your financial security. Take retirement, for example, the sooner you start saving towards it, the better you prepare yourself for the retirement stage of life.

We all make mistakes in life. And it does seem that the majority of us make the same money mistakes over and over again. Spending excessively or living beyond our means can quite often leave us in trouble with our finances – it can sometimes come from a wish to impress or just pure carelessness.

Trivial purchases such as daily takeaway coffees, gym memberships we never use, or a magazine you barely read but have been too lazy to cancel the subscription to – it may all seem like nothing at the time, but adding it all up, in the long run, will make a huge difference.