American Literature

Good habits improve our physical, emotional and financial health. Saving money is one of my good habits. It is essential for ones financial well-being and can save one a number of emotional and psychologically induced physical problems. Although the thrill of impulse spending makes saving money look less appealing, this good habit not only strengthens psychological, physical and financial health but also allows one to spend more in the long-run.
 
Why should you save money Saving money allows you to keep your financial budget in check. You can balance your expenditures without debt and the ever rising interest payments. It enables you to effectively counter any unexpected financial exigencies that arise. By creating an emergency fund through money saving, you can cover an unanticipated car repair or job loss without damaging your psychological health (Caldwell). Through saving, you can pay for your education or the education of your children.
   
Another reason why you should save money is to afford the down payment on your dream house or car (Caldwell). If you spend before you can count your dollars, then you may never be able to purchase that exquisite house, piece of jewelry, your favorite car and other luxury items or go on the vacation you also desired. A dearth of funds may even ruin important occasions such as marriage and anniversary celebrations. Money saving also allows you to prepare for your retirement. The sooner your start saving money, the greater will be the accumulated interest on saved money and higher the amount of money you can spend.
   
A major reason why you should inculcate the habit of saving money is to enhance the emotional security that comes with money. There are a number of financial events like inflation, recession, unemployment and tax hikes that are not in ones control. In such situations, an absence of adequate funds upsets ones mental make-up causing stress and tension. With deteriorating emotional health and increased stress, problems such as depression, obesity, high blood pressure, heart disease, abnormal heartbeats and acne become more likely (U.S. Department of Health and Human Services). Thus, not only do you lose your emotional health with dwindling finances, your physical health also suffers. You can avoid these problems by saving part of your income.
   
By saving money, you learn the value of a dollar. You can balance your finances, effectively handle unexpected financial problems, and afford major expenses on important occasions without losing your emotional stability. The habit is critical for ensuring uninterrupted happiness and smoothness in your life. So learn to save money to save yourself a lot of financial, psychological and physical distress.