Ten Reasons To Love Saving Money

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10 Reasons to Love Saving Money Spending hard-earned money often seems so much easier -- not to mention more exciting -- than saving it. But saving money is well worth the effort. Here are ten reasons to love saving money: 1. Savings reduce your stress. I know from experience that living paycheck to paycheck can be extremely stressful. Extra expenses can feel like a crisis, consuming your mind during the day and causing you to lose sleep at night. Having an emergency fund in place can do wonders for your stress level. Knowing that if your car breaks down or your furnace needs repaired, you can pay the bill without worry is priceless. An emergency fund allows for options. Recommendations for emergency funds vary wildly, but generally range …show more content…

You may be eligible for a tax credit for saving. In the U.S., savers with low to moderate incomes who save for retirement through IRAs, 401(k)s and a few other vehicles may be eligible for a specific tax credit known as the Saver’s Credit. This can be a credit of as much as 50 percent of your contribution for those on the low end of income eligibility. The Saver’s Credit had a maximum adjusted gross income of $61,000 for couples married filing jointly in 2015. For more information, check out details from the IRS. 6. You can more easily say “yes” to new opportunities. Another way savings increase your options is by allowing you to pursue new opportunities. If you want to live closer to family or to accept your dream job, moving may be a doable option with savings and a non-starter without. 7. You can enjoy the anticipation of spending your cash. While this might sound strange at first, a major part of the fun of experiences tends to be the anticipation. Saving money is not really an exception. Once you start saving towards your goal, you think about reaching it. If planning for a big trip, you may get a thrill out adding to your savings each month, imagining the sea breeze and sand beneath your toes. Or you might envision all of the ways you could spend the cash you’ve

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