Why is saving money and personal finance important

[chrisburke21]

I have begun writing on my blog about why it is important to save money and focus on personal finance. I just want to poll ideas that everyone has on why they think this is important.

[scubatim84]

The easiest reason for me is because I don't feel like ekeing out a living in retirement, depending on social security, like my dad is doing right now up in the mountains in the middle of nowhere because he can't afford to live anywhere nice. Especially since social security won't exist by the time I retire, since it's just a ponzi scheme, this is my motivation for making sure I'm financially secure early in life and able to retire early if I so choose.

[Goldy1]

to prevent future anxiety and worry in an unforseen or uncertain situation like a layoff or repair needed. kinda like a squirrel burying his nuts for later;it's almost an instinct i'd say but probably mostly learned behavior. I mean my three year old has no concept of wage earning.

[maat55]

Because they are the path to prosperity. Living payday to payday and consuming all you earn is what animals do.

[mgkimsal]

Money represents power. With power can come control - control over yourself, control over others. I don't necessarily mean 'control' in a bad sense (though it can be used that way), but the ability to control things vs having them control you. The worst decisions I've ever made had been from positions of financial weakness (usually out of desperation). You can't really help yourself or others (family, friends, etc) from a position of financial weakness.

[rob62521]

I watched my folks who scraped by when they worked and then they were too ill to continue working, have a difficult time making it on Social Security. Both grew up in the depression (1930s)and neither finished high school, so their jobs were tough on one's body. As they barely scraped by in retirement and after my dad died, hubby and I paid many of my mom's bills, I knew I do not want to live that way.

Besides saving for retirement, it is important to plan and save for now so one isn't caught unaware when something happens or breaks. And planning and being informed helps one achieve these financial goals.

[dczech09]

To me, it is all about freedom. Nothing more, nothing less.

Freedom to do as I wish (within the law obviously).
Freedom from oppression.
Freedom from relying on others.
Freedom from the government.
Freedom to live a prosperous life.

Money cannot buy happiness, but it can provide freedom. And freedom makes me pretty darn happy!

[SeanH]

I think we're coming down a little hard on animals. Squirrels bury nuts. Bears build up fat reserves. Cells establish membrane potential by accumulating potassium. Preparation and storage is survival. Its just that the currency has changed.

[EEinNJ]

Saving money and personal finance skills are important because the US is a capitalist, consumer driven society. We are confronted with many choices and incentives to spend, but many are not in our best long term interests. Learning how to handle money results in good choices that lead to growth, security, and freedom.

[Mori]

If you want to survive. I learned from others when it came to personal finance and saving money. My grandparents were great example of that, they grew up during the depression. From them I learned the importance of saving especially, for hard times. And like someone stated in another post, I really don't think Social Security will be around when I get to retirement age.

[ecoadapt]

In my opinion, It is important because it will make you secured,secured from all of those uncertainties!

[Angio333]

Its important since we are supposed to be good stewards with the things that God has blessed us with. Also, if we are good stewards, we can those resources to help others.

[maat55]

I think we're coming down a little hard on animals. Squirrels bury nuts. Bears build up fat reserves. Cells establish membrane potential by accumulating potassium. Preparation and storage is survival. Its just that the currency has changed.

Touche............

[Staceyy]

The best explanation I've ever heard went something along the lines of:" i prepare because life is uncertain, but what is certain is from the day I'm born to the day I die, I have to eat!"

[fruitbowlk]

Security that no one can take from you.