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10 Ways Saving Money Can Better Your Life

saving-money

Saving money makes your life better. We know putting cash away can be difficult, especially if you’ve built up some bad habits over the years. A lot of people tend to spend outside of their means, and they get used to the lifestyle that affords them. Saving your money means cutting other things down or out of your life and that is never a fun thing to do. However, it is all worth it because saving money has more benefits than you’ve probably thought of.

Here are ten of the best ways that saving money makes your life better:

1. It’s good for your relationships

Nine times out of ten, marital arguments are centred around money and the stress that comes along with not having enough of it. Partners feel the weight of being in debt and not having enough money come down on them, and it can cause an immense amount of tension, anger, distrust and eventually lead to the relationship dissolving. Nurture your relationships with those you love by nurturing your finances. Get a nest egg growing so you can approach conflict without the added stress of being broke to it.

2. It’s good for anxiety

People who live paycheque to paycheque and barely scrape by, saving nothing, experience tremendous amounts of stress and anxiety. If you’ve ever gone from situations of financial well-being to the opposite or vice versa, you know how different your overall mood is. When you don’t have any money, you constantly worry about it and it interferes with your ability to get through each day happily.

3. It’s good for your quality of life

Self-disciplined savers are happy because they have less stress, less worry and they have lots to look forward to.

4. It’s good for your credit score.

While saving money may not directly affect your credit score, the fact that you have something to fall back on should you hit hard times means your credit score won’t suffer.

5. It’s good for opening up opportunities

If you have a decent sized amount of savings and you see an investment opportunity, you have the freedom to take it up. Having money behind you gives you choices: homeownership, career changes, etc.

6. It’s good for times of crisis

We prefer to think nothing terrible is going to happen, but sometimes it does. We lose jobs, have house fires, or car accidents. Our pets get sick or our wallet gets stolen in a foreign country. Life is unpredictable, so having a good chunk of money to lean on, just in case, is going to ensure that the bumps along the way aren’t game-changing.

7. It’s good for your confidence

Saving money is part of what we call “adulting”. The more adulting you do, the more proud of yourself you feel. You are owning life like a boss and you’re going to hold your head a little higher because of it.

8. It’s good for your health

Eating cheaper often means eating healthier. You’re going to have way more veggies in your diet because they’re so cheap.

9. It’s good for your goals

Saving money helps you reach your goals, whether they are to start a new business or purchase a home, or finally see Chichen Itza in Mexico. Money can help you get there.

10. It’s good for your money

When it’s saved, it’s making more money for you. Even if you just have your money in a regular savings account, your money is still earning interest. If you save it, it will grow!

As you can see, there are many pros to saving money, and there’s really only one downside and that is living on a tighter budget. Can you cut things out of your spending for all ten of these benefits? It seems like a pretty good trade-off to me!

What benefits do you see coming from saving money? Let us know in the comments!

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I would really like to thank Refresh Financial. My credit has built substantially and I was able to obtain a mortgage in just over a year. Unlike its competitors (very high interest rates) the Refresh Financial program is truly designed to help people. I am so thankful that you treated me with utmost respect and provided the support I needed. You are highly educated with respect to credit repair and by following your guidance I climbed out of the rut I was in. I am in a much more comfortable place financially than ever before. I have attached a picture of my house in Kelowna BC. This is proof that with guidance, discipline and perseverance anyone can achieve their goals. ”

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