Sunday, October 30, 2011

Everyone needs savings

Everyone needs money in savings. Homeowners may need savings for unexpected circumstances that may arise. You never know when a water heater may fail and require replacing or maintenance. If you have a family, it is always good to have money set aside be it for vacations, or anything financial that may arise. Most people think that you should set aside money for your children’s college education, however I do not believe in this. I believe you should save for your own retirement. If you have enough money to send your children to college, than do so. If you are struggling however, I believe you should save it for yourself. If you instill good work ethic into your children at a young age, they may qualify for a scholarship. They will become better people knowing that they can work towards and achieve a goal for themselves. If they don’t qualify for a scholarship there are always student loans. Your child will take school more seriously if they are paying for their own education, thus receiving higher grades. The one thing in life you can’t get a loan for is your retirement. There are no such things as retirement loans. If you are living with your parents saving 15% of your money will help you greatly when you decide to move out. Everyone should try to have at least 6 months of their living expenses should an unexpected job loss occur. People living in apartments are throwing away thousands of dollars a year on a place you don’t own. Saving for a home is the best alternative to apartment life. Than when you are paying your mortgage, you are creating an asset that will pay you more in return should you decide to sell your home later. There are so many countless opportunities when saving your money.


  1. I agree with you. Everyone, everyBODY needs savings (and money in it). Nice post!