We don’t know what will happen in our lives. It’s impossible to tell the future, no matter how many crystal balls we stare into! There is one thing we can do to help ourselves stay prepared for every eventuality, though. And that is, saving money. You never know when you might need to dip into a pot of cash to help you out of a tricky situation. So, rather than simply going into debt, start saving your money now. Here are the five key life stages that you should be saving for now.
1. Your Wedding: One of the Special Life Stages
One day, someone might get down on one knee and pull out a Diamond engagement ring. There won’t be any point getting excited about a wedding if you can’t afford it, though! Wedding ceremonies are getting very expensive. So, it’s a good idea to start saving for one as early as possible. You need to be able to have enough cash for a lot of things, including your dream dress and a perfect venue!
2. Your First House: Yet Another Superb Stage of Life
Bricks and mortars are another very expensive parts of life! Once you’re married and settled in a fantastic career path, it’ll be time to buy your ideal home. If you want to live in a good neighborhood, then you’ll be expected to pay the big bucks. The bigger mortgage you have will mean you can afford a smaller mortgage. It also means your offer may be more likely to be accepted by the sellers. And, this also means that you’re ready for this stage of life.
3. Health Care
Falling ill is one of the life stages, which can be pretty expensive. So, having some spare cash available is always useful. Accidents can cost even more. You can rarely prevent accidents from occurring. So, having some extra funds in your bank balance is the best preparation you can have. It’s also a good idea to check what your insurance covers. You may even have to save up for dental care, as some policies don’t provide care for your teeth.
4. Retirement: Another Stage of Life
Do you already pay into a pension scheme? If you’ve just answered no, you should start to organize one right now. Once we stop working, our pension will pay out and provide us with money to live off. If you don’t have one, you will have to cope on the state pension, which isn’t a lot of money. If you fail to save up enough money, you may have to work much longer than you had planned. Once you do retire, though, savings will help you enjoy your free-time much more and remove any money worries from it.
5. Fun Stuffs to Keep Going the Various Life Stages
It doesn’t all have to be boring, though! Don’t forget to save some cash for life’s luxuries! Treat yourself to some cutting-edge technology and an exotic holiday. How about some fancy designer clothes every once in awhile? If you are still saving enough to cover the important life stages, then you shouldn’t feel guilty about buying all these nice stuffs. As long as you don’t go over the top and spend every penny you have, that is!
Open that new bank account now and start saving cash today!