Saving Money

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You can be sure that there will be situations in life where money will be needed to fall back on. The issues could be anything ranging from losing your job or a sudden illness or disease, or even an accident that might grow to become a temporary impediment to your life or your potential to work and earn, in which case an emergency fund of sorts would quite possibly be the only thing that would help you sustain yourself until things smooth over and get better. Another aspect of this that directly ties in to my initial point is that if you do save yourself up an emergency fund, it would definitely contribute to a peace of mind considering the fact that if anything were to happen, you have a safety net of sorts to fall back on till you get back on your feet.

With those three points in mind, I do hope I have managed to convey to you the importance of sound financial management in your personal lives as a whole. I do believe that while doing so, it will help you learn or adapt to a sense of responsibility, it will also help you differentiate between 'needs' and 'wants', which is something that is very important in life, especially if you happen to be an impulsive person as some of us might be if we tend to spend recklessly. Therefore with all that in mind, once again, I do hope you realize that even if it is something as seemingly insignificant as setting aside a portion of your first paycheck for a rainy day, it can and will pay for itself by a significant margin, in not just tangible savings but also in terms of learning personal responsibility and the importance of financial stability. And with that, I wish you all the best of luck in striving with your goals.

References

Goudreau, J. (2013, November 26). Saving Money Could Make You Happier. Retrieved December 17, 2014, from http://www.businessinsider.com/saving-money-could-make-you-happier-2013-11

Folger, J. (2014, July 31). Retirement Travel: Good And Good For You. Retrieved December 31, 2014, from http://www.investopedia.com/articles/personal-finance/073114/retirement-travel-good-and-good-you.asp

E. LeFebvre, J. (n.d.). Retrieved January 4, 2015, from http://parenting.uwex.edu/parenting-the-preschooler/documents/Reduce Stress Save Money.pdf

Trumbull, T. (2012, August 13). Nearly half of Canadians don't save for a rainy day. Retrieved January 4, 2015, from http://www.bnn.ca/News/2012/8/13/Nearly-half-of-Canadians-dont-save-for-a-rainy-day-poll.aspx