When Is The Best Time To Start Saving Money?

When Is The Best Time To Start Saving Money?

The Best Time To Start Saving Money

I believe the ‘best time’ to start saving money is from the moment you learn about the concept of money and what it can do for your life.

In other words, as soon as possible.

If you’re a regular reader here, you should know by now that I am a huge advocate of living life for today to create experiences, rather than accumulating money for my own selfish desires.

However this doesn’t mean that you should ignore the health of your finances, and how it can have a positive impact on your life.

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Why You Should Start Saving Money Today

There are many reasons why you should start saving money today. However I wish to focus on two reasons in particular that are less talked about.

  • Learning to save money teaches you an important life skill.
  • Money has the power protect and save lives.

Learning To Save Teaches You Delayed Gratification

Learning how to save money and budget effectively teaches you how to delay gratification to an incredible degree. Research continually reiterates delayed gratification as a vital life skill which is a prerequisite for success in all walks of life.

Those who are able to delay their gratification are more likely to be more mature, self-assured, confident and will have the ability to make sound decisions in all major areas of their life.

Becoming comfortable with delaying gratification for greater returns instills resilience, perseverance and patience in an individual.

By continually partaking in activities where the focus is on delaying gratification, you will begin consciously and unconsciously teaching your body and your mind exactly what you want from it, resulting in an effortless and well-developed habit.

With Great Money Comes Greater Responsibility

I am a believer that money as a concept is not inherently good or bad, rather it is the way we think, use and treat it, that determines its true worth.

I previously wrote an article a short while ago on whether wanting to be rich is a pointless ambition and how it is your opinions and beliefs about money which determines how far it can truly go.

What I’m trying to say is that money has the potential to both protect and destroy.

This is the main reason I feel it is important to start saving money as soon as you can.

You need money to eat and survive, as perfectly described in Maslow’s Hierarchy of Needs.

However, you also need it in order to protect the people you love and care about.

Let’s be honest with ourselves, money may not guarantee happiness but it can definitely affect it. I save up money so I can use it to do two things.

  • Protect and help create prosperous lives for the people I love.
  • Make the world a better place.

Without money, this website wouldn’t exist.

I wouldn’t be able to continue doing what I do without active subscribers and supporters buying my products and services.

If I can do just this with $20, what do you think I could do with $2,000 or $2,000,000?

Think about the why with regards to your actions with money. Once you have a strong enough ‘why’, the ‘how’ will take care of itself, and you’ll have found your own real reason for why saving money is truly important to you.