The short answer is yesterday! But never fear if you have not started, saving is not something that’s too difficult. It only takes a little discipline and time.
Why save?
That’s a good question; why not blow it all on a ferrari instead of saving it right? Life’s short they say. However, what the majority of people will never realize (you are the lucky few reading this blog) is that the fact of earning money to directly spend is not helping your future, while it may be improving your present. So it makes sense to save in order to preserve your future.
Let freedom ring
When you save your money what you are really doing is making yourself healthier, happier, and freer than you are now. Why? Because savings can eventually let you live the way that you want to. Savings also allows you to take risk. Take an example, say you have always wanted to start a certain business, but you have been worried that you would not be able to pay rent or pay for food while you’re building it. If you have 4 years of savings under your belt, then you know you’ve got some time to make those dreams a reality. (by four years, I mean enough money to live for four years.)
Loved ones
While everyone wants to live wild and free while they are young, it is probably an amazing feeling to pass on wealth to the next generation. (I say probably because kids are not in my site anytime soon, so not positive on that one!) This is important to remember because saving money an entire lifetime instead of spending it can often be difficult, but many take gratitude in the fact that there future generations will be wealthier than they were. I personally know that I will love the feeling of passing on my money and businesses (yes plural;) to my children!
A word on “Retirement”
Now despite the need to save, I will say from past experience, that there is also a need to spend. Life is purely about enjoyment, and that is what it should be about. So please to everyone reading this, do not wiat untl you are 60 to “start taking risk” or “living large”, because by then you will be too old to enjoy it anyway! Take risk and have fun when you are young, and if you didn’t, start doing so right now because life is short. Go talk to every cute girl you see on the street, sign up for a public speaking course, and get out of that comfort zone!
The Bottom Line
Start improving yourself and success will constantly find you. If you focus on building your skills in many areas from a young age, the odds of you becoming very successful increases substantially. This is probably counterintuitive to the topic of this article, and saving is definetly important, but if you set standard savings goals and make them passive (do not focus on them), then you will be in great shape!
Cheers to a brighter future!