4 Reasons To Start Building Up Your Savings – And How To Do It.

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For many of us, money is tight, and we are only focused on the week to week operations. We have so little money left over at the end of the week, that putting any of it towards a long term goal seems like a waste. However, there are some times in life when you’ll be glad you had some savings built up, and the only way to do this is by making some sacrifices. While you may be focused on the present, here are some situations in which you’ll want to have savings in place down the line.

For Your Kids

The first situation is for anyone who has kids, or plans to one day. Kids are expensive, and you want to do everything you can to ensure they have a bright future. While some of their needs you can meet week to week, there are others that you’re going to want to save up for. Perhaps you want to help your kids afford college, or buy a car when they get older. This won’t fit into a weekly budget, but it makes for a great savings goal.

For An Unexpected Expense

None of us know what the future holds, and at anytime we may be required to put out a significant amount of money. Maybe you were injured in a motorcycle accident, and now you are unable to to work. Or perhaps a tree fell onto your car, and it needs repairs. Insurance helps in many situations, but it doesn’t cover everything. The best way to prepare for the unexpected is to take steps now to build up your savings.

For A Planned Expense

Of course, not every big expense is going to come out of nowhere. There are some things that you want to buy, but you can’t afford them within your weekly budget. Maybe it’s a new car, a vacation, or a new television. Whatever it is, by building up some savings a little at a time, you’ll make it possible to afford, and you’ll appreciate the purchase more when you finally get it

For Retirement

Finally, there’s going to come a time when you’re no longer able to work, and you’ll have to get by largely on your savings. You don’t want to be worrying about money when this time comes, as your retirement should be a time for relaxing and fun. The sooner you start saving up, the better your financial situation will be during retirement, so you should start thinking about it now.

How To Start Saving Up

Now that we’ve given you plenty of reasons to start saving for your future, here’s how you can start doing it. First, you want to have a goal in mind. Are you saving for retirement, or for a new car? Your goal will help determine how much you need, and how long you have to save up for it.

Next, you’ll want to look at your weekly and monthly expenses. Try to find some areas where you can cut back a little bit. Perhaps you can bring lunch to work instead of buying, or carpool with a coworker instead of driving every day. Even if it’s only a little bit, each dollar you can put towards savings will help in the long run.

After that, you should open up a separate savings account for each savings goal you have in mind. Then set it to automatically deposit a small amount from your checking account each week, that way you don’t have to remember to do it.  You’ll essentially be operating on a smaller budget each week because of this, but the long term benefits will definitely be worth it.

Finally, it’s important that once you start saving up for something, that you don’t touch the money early. If you have a retirement fund, it can be tempting to dip into it when your favorite band comes to town and you want tickets. Avoid the temptation, and allow your money to stay where it is. It’s also important that you stick with it, and don’t give up on your savings after just a few weeks.

You never know what life is going to throw at you, so it’s important to take steps to prepare. Even if money is tight, making an effort to build up your savings is a worthwhile goal. By following the tips mentioned above, you should be better prepared if any of the situations we mentioned arise, and hopefully make your life a little easier. You can’t predict the future, but you can at least take steps to put yourself in the best situation to deal with it.



Welcome to the Night Helper Blog. The Night Helper Blog was created in 2008. Since then we have been blessed to partner with many well-known Brands like Best Buy, Fisher Price, Toys "R" US., Hasbro, Disney, Teleflora, ClearCorrect, Radio Shack, VTech, KIA Motor, MAZDA and many other great brands. We have three awesome children, plus four adorable very active grandkids. From time to time they too are contributors to the Night Helper Blog. We enjoy reading, listening to music, entertaining, travel, movies, and of course blogging.

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