Best Answer

1.) You won't have to pay tens of thousands in interest when you borrow money. 2.) There's always some emergency that pops up...and it won't bother you. 3.) It gives you unbelievable freedom to do what you want to do, when you want to do it. 4.) Having cash helps you become anonymous in your life. Companies profile credit card users. 5.) People will trip over themselves trying to give you money because you don't need it. 6.) You sleep better at night not worrying about loosing your job. 7.) People with money rarely get trapped in a relationship. ("I can't afford to move out.") 8.) Its easier to be "generous" because it comes from your surplus. (its a really bad reason to be charitable but it comes with having money) 9.) You feel more in control of your life because you have more options.

...and my favorite and personal goal...

10.) If you have enough savings you can tell your boss to shove it!

I've been debt free with cash in the bank for 10 years and loving it!

Other benefits are:

  • Safety net - When you need to have some way of getting money if you loose your job, having that safety net comes in handy.
  • Open options - When you save money, you can start to think of retirement. The options are open when you save money and you don't have to worry about any problems coming up if you have the money saved up.
  • Less stress - If you have money, you have stress. When you have little money, you have more stress. With saving money you can have less stress and you can do the things that you wanted to.
  • Travel when you want- For those who are saving money for being able to do the things they want, the benefit lies where you can travel as you please. It is nice to travel and see things that you have not been able to see.
User Avatar

Wiki User

โˆ™ 2011-03-21 08:03:06
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are the advantages of saving money?
Write your answer...
Related questions

What are the advantages of saving money in the bank?

There are numerous advantages of saving money in a bank for both the person saving the money and others. a. The money you save earns you interest income b. The money you save is lent out as loans to help out others c. The money you save can be withdrawn at any point in future to help you with your financial needs.

Advantages of saving money rather than spending it?

Advantages of saving money, rather than spending it would be that when you save it you can then purchase something bigger. Also, if you ever lose a job or something you would then have something to fall back on.

What are 3 advantages to being a paramedic?

Saving lifes, more money and higher education

What are the advantages and disadvantages of a savings account?

Advantages:You can't spend the money as easily, so you're more likely to keep savingYou earn interest on the moneyDisadvantages: You can't get the money as easily if you have an emergency

What were the advantages to a horse and cart?

Two advantages of using a horse and cart are saving the earth by not emitting harmful toxins into the atmosphere, and also saving money on gas or other cost associated with travel by car.

What are some advantages of sun clocks?

it is energy saving as they do not use batteries and there for do not use up your money

What are the advantages of a health care provider using the internet as a research tool?

Saving time, and time is money.

Is saving money real?

saving money is when you save your money and it is real.

What are two advantages to saving money in a Certified Deposite?

Some advantages are:Your money is not idle and earns an interest for youThe interest earned in a CD is much higher than the interest you will earn in your savings or checking accountYou can withdraw your money anytime you want

Advantages and disadvantages of saving energy?

The advantages of saving energy are:you save moneyyou lower your carbon footprintit is easy to doyou help to stop global warmingyou stop the greenhouse effectthe only disadvantage is that you may become pedantic about people and them wasting electricity

What are the advantages of using computers rather than relying on paper?

computers are better bescause u are saving money on paper

What is the difference between problems of saving money and problems with saving money?

Problems of saving money is when you do not have the money coming in so that you can save. Problems with saving money is that you are incapable of setting money back because you have a bad habit of spending it.

What s the advantage of having a saving bank?

The chief advantages of having a Saving Bank Account are 01) It enables to save money.02) It develops the habit of Saving.03) It enables us to deal less in physical cash.

What are the advantages in saving money in the bank?

if you save your money in the bank you are quite sure if anything goes wrong (i.e robbery, fire-outbreak etc) the bank will replace it.

What are the advantages of saving pocket money?

The major advantage is the increased amount of money stashed away for an emergency, major purchase, retirement or simply peace of mind. Also, saving pocket money is easy - you empty the money from your pocket at the end of the day and whatever is there goes into savings. This then builds and reinforces a habit of being frugal and saving money, which can help a person build other good financial habits.

What are the advantages of using a home phone service?

There are definitely a number of advantages of using a home phone service. For one, you will definitely be saving money. Also, it is very portable, which is definitely convenient.

What is topic sentence for saving money?

A topic sentence for saving money could be: Saving money while you're young can lead to a happier retirement.

What are advantages of saving a person's life?

They get a second chance. You get to feel good about saving a life.

What are the Advantages and Disadvantages of automated systems?

Advantages : Less time consuming Less money saving less paper needed less space needed Disadvantages: Make employees lazy Eye strains

Are there advantages to having a Visa Signature card over other credit cards?

The advantages of the visa signature credit card is the ability to redeem points on your purchases. You are essentially saving money while spending it.

What is ths advantages of ready made pastry?

It is time saving labour saving and easily available

What are the advantages of borrowing money?

what are the advantages of borrowing money

How to use the word saving in a sentence?

Saving can be used in a sentence many ways. For example you can use it referring it as saving money in the bank: How much money are you saving in your savings account?

What are the advantages of saving energy?

You'll have more energy.

What are the advantages of USB?

Simple uniformity and space saving.