You have to know why you should save more
Before saving money, you have to know why it is beneficial for you to do so because it will motivate you.
According to Iona Bain, the founder of Young Money Blog, “A great way to think about saving is that it offers three things: security, reward and choices. It’s safe in the bank and you should get a little reward in the form of interest, which compounds and adds to your balance.”
People who save some money are more financially calm and more motivated. In addition, those who have debts and spend a lot of money are always agitated because they have no financial security.
“People who are weighed down in debt and short-term spending have limited options, but active savers can sleep at night, and live their lives knowing their money is safely tucked away for them to use when they really want or need it. It’s still your money, remember! Just put it to one side to help ‘future’ you,” Bain told Vogue.
