Reasons to Save Your Money

If there was ever a time to save your money, it’s now. Okay, no – scratch that. It’s all of the time from here on out. Yep, all the way until you’re old and gray. There’s a reason for it of course; financial security. But beyond that, it’s also for fun. Here’s several reasons to rethink how you spend your money; and several reasons why you should save it.

Saving money is immensely important in your 20s. (photo by xxv)

Saving money is immensely important in your 20s. (photo by xxv)

#1. What happens if you ever need anything for class that financial aid won’t cover?

It’s safe to assume that your financial aid will carry you all the way through college but think about every possible scenario. I, for example, essentially got laid off from my job. Which left me virtually unable to pay my gas for the week. Which means I’m not going very many places (at least in my car) for a while. Now, I still have class Monday through Friday and I’ll spend roughly fifteen dollars a week on gas alone, for school. Now, that doesn’t sound like much but it’ll add up quickly… meaning in nearly seven weeks, you’d go through one hundred dollars. So if that were the case, and if your professor decided to change your book in the beginning of the course – after you had already purchased another, you’d need extra money to use.

#2. Want to go on a mini-hurrah?

If you’re like me, you traveled a lot as a kid but as you grew up, the opportunity grew more seldom. A rarity. If you want to, say at the end of your college years (meaning graduation) – party it up in a different city (or country) – who’s to say that you shouldn’t? Or couldn’t? See, you’d be well on your way to a congratulatory vacation if you spent your time in college saving up for the big fiasco.

#3. For your thirties, and forties, and fifties.

Whether or not you foresee the Social Security Act being a thing of the past as we age, it’s still a good idea to save up. I know it’s hard to see past midnight but so many things happen in your twenties and thirties. You may want to put a down payment on a house with your new hubby, or you may need extra help paying your hospital bills for your newborn baby. That’s just what happens. And even though you’re probably only in your twenties (if that!) it’s a good idea to start saving as soon as possible.

#4. Returning to school for a master’s degree or a doctorate.

Nowadays, bachelor’s degrees just aren’t cutting it. That’s right – you may have to get a master’s in mechanical engineering instead of settling for a bachelor’s. The level of education you’ll need to get your foot in your respective career may just be a master’s degree. In any case, if you return to school to further your education, you’re gonna need some money. Financial aid may cover everything, but it’s not guaranteed.

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