I read an interesting piece today that talked about how saving money is good when it comes to planning for your future. But if you do nothing with it such as just leaving it in the bank apparently for some people feel you aren’t really preparing for the future financially. The reasons seemed pretty straight forward such as by only saving your money you are assuming lifestyle factors such as the cost of living will be the exact same as it is now.
To that I would personally say that if you are saving money then a least you are doing something. Although I do agree with the notion that if you are planning for the future then you should try and find ways to invest that money to generate more. In my mind your life and is going to constantly evolve which means your money should as well.
But with that said I honestly feel saving money is the best first stepping stone as doing things like a business or investing isn’t exactly something everyone is comfortable with right away. This could be as simple as resisting the urge to make that extra unnecessary purchase to save some money. For example, I always say that desserts in a restaurant are extremely marked up where if you insist in dining out leaving that out of the bill can probably save you a ton. Something as simple as that can give you the confidence to do bigger things.
Heck, in many ways being a great saver such as when it comes to your essential shopping needs is being proactive with your money I feel. For example, if you all remember the time where I easily did that food challenge of shopping for groceries with less than $21 a week that wasn’t a fluke such as finding random saes but rather the time I have invested in understanding where the deals are and what qualifies as a good deal. With that knowledge alone it would still hold true even in the future.
Don’t underestimate how much just saving alone can teach you in terms of financial literacy I say. It’s great if you can become entrepreneurial to make more with what you have but everyone starts somewhere.