What are the advantages of saving money?

Answer 1

1.) You won't have to pay tens of thousands in interest when you borrow money. 2.) There's always some emergency that pops up...and it won't bother you. 3.) It gives you unbelievable freedom to do what you want to do, when you want to do it. 4.) Having cash helps you become anonymous in your life. Companies profile credit card users. 5.) People will trip over themselves trying to give you money because you don't need it. 6.) You sleep better at night not worrying about loosing your job. 7.) People with money rarely get trapped in a relationship. ("I can't afford to move out.") 8.) Its easier to be "generous" because it comes from your surplus. (its a really bad reason to be charitable but it comes with having money) 9.) You feel more in control of your life because you have more options.

...and my favorite and personal goal...

10.) If you have enough savings you can tell your boss to shove it!

I've been debt free with cash in the bank for 10 years and loving it!

Other benefits are:

• Safety net - When you need to have some way of getting money if you loose your job, having that safety net comes in handy.
• Open options - When you save money, you can start to think of retirement. The options are open when you save money and you don't have to worry about any problems coming up if you have the money saved up.
• Less stress - If you have money, you have stress. When you have little money, you have more stress. With saving money you can have less stress and you can do the things that you wanted to.
• Travel when you want- For those who are saving money for being able to do the things they want, the benefit lies where you can travel as you please. It is nice to travel and see things that you have not been able to see.