Page 30 - Book2E

Christmas is the season when you buy this year’s gifts with next year’s money.
—Author Unknown
22
Education: Statistics on the cost of education are readily available. Whether you are planning for higher education for yourself or for your children, the ability to get an education without a loan makes the edu- cation even more valuable. Enjoy the days after you or your children graduate from college instead of spending the next twenty years paying for an education with money that could have been invested.
Investment: Many an opportunity has been missed by those who used all their resources on a daily basis so that when a good opportunity presented itself, they were unable to take advantage of it. Whether it’s property, a business, or some other commodity, having resources to take advantage of a lucrative investment is very rewarding.
Special occasions: From weddings to funerals, the costs of a special occasion are continually increasing. Parents who want to throw a big party for their children’s weddings had better start saving now. On the other hand, even the most basic funeral requires a significant financial output. Help ease the loss for your children by having savings in
place to cover these expenses.
Preparation for emergencies: Emergencies can take many forms. They can be as big as injuries that cause a person to be away from
work for long periods of time or natural disasters that cause the loss of home or property. They can be as small as a car repair or a leaking faucet.
Feast or famine: The times that things are going well and you are making a good income are the most important times to save. It is easy to convince yourself that you can spend freely when the money is coming in, but no one can predict when that money might fail. Being prepared for the possibility of lean times is important.
Determine the reasons that are important to you. Saving for something you know is important makes learning how to save a little easier.
Saving Makes Good Cents