How should one convince oneself to start saving?

  • Inflation depreciates the value of our money. The money saved today and returns on it can come to use later when the prices of goods and services are high. Saving helps us to keep up with inflation.
  • As soon as we get our first income, start saving. There might be times when we may fall short of earning. 
  • Build an emergency fund. In times of crises, these savings will come handy. Think of an emergency fund as your BAE (Before Anything Else) and start saving towards building an emergency fund Before Anything Else.
  • Save for big expenses and life goals. Major life expenses like education (college fees), wedding, holiday, car, home, etc. can be funded with your well-saved money. Set a goal and regularly save towards it.
  • Save for your non-working days and old age. The expenses will be the same. Moreover, they will increase because of inflation. Star saving early for your retirement.
  • Save and accumulate capital to invest and grab golden opportunities.
  • Save and create wealth to pass on to your next generation.