People should pay themselves first, not last.

Here are some of my favorite reasons for you to save right now:

Expect the unexpected –
While Kristie’s situation is extreme, these types of medical situations do come up. So many people go through life thinking it will never happen to them, or if it does, it will be when they are older. Kristie proves that is not the case. She was not even 30 when her life was turned upside down by her illness. It is not only medical emergencies that we need to think about; job loss, car repairs and home repairs can also cost us if we do not have a savings account.

Financial freedom –
Doesn’t that just sound wonderful? I love the thought of never having to worry about money again. Many do not realize if they put a little bit of money away each pay period, it really does add up. Think about how wonderful it will feel to know you can financially handle whatever comes your way.

Lead by example –
Children tend to do as we do and not as we say. If your children know you are putting money into savings each month, it is likely they will do the same as adults. Not to mention they feel our tension or our calm. If you are constantly stressed out about money, they feel that. On the contrary, if you do not stress about paying the mortgage or car payment because you know you have it all under control, they feel that as well. Explain to them (at an appropriate age) how you do things and why. Chances are, you will raise a financially savvy child.

College –
It is no secret that college costs an arm and a leg these days. Paying for college can be a daunting thought, but if you start now, you and your children will thank you later. Setting up a college savings account could end up being one of the best gifts you could ever give your children.

Retirement –
With inflation what it is today, it is also a little scary to think about retiring. The time value of money is an amazing thing. The earlier you start the better. Contribute as much as you can to your employer-provided 401(k) or 403(b). If you are self-employed, look into the different Individual Retirement Accounts that are available. I know people really do not like to think that far in the future, but the fact of the matter is we are living longer and longer. We want to make sure your money does not run out before you do!

Vacations –
Wouldn’t it be really nice to take your family on an amazing vacation…without putting it on a credit card? Believe it or not, it is possible. With constant saving throughout the year, you may find a surplus at some point. Go ahead, take the family for a little rest and relaxation. This is not splurging, it is necessary for not only your health and well being, but of the family as well.

There are many more reasons, but I think you get the picture. It is okay to start small. Just start!