Money can’t buy you love, but it can buy you peace of mind and security. We look at three everyday reasons why saving is good.

It increases happiness
A US survey found that saving money is one of the best habits people can adopt to increase happiness. And according to the gurus, it’s the act of saving that brings the happiness than the actual amount accrued (although a healthy piggybank has never hurt anyone!).

It helps you on the road to realise your dreams
If you’re living on the financial edge, your dreams may seem far off. But when you save with a specific goal (whether that might be to be able to pay for your children’s studies, enjoy an overseas trip, or have a more comfortable retirement) you have a plan in place to realise your dream.

And everyone should start saving for retirement as early as possible. The South African reality is that only about 6 out of 100 South Africans can retire independently of others – the rest either have to continue working, or are reliant on family members or friends for financial survival.

You are able to deal with the unexpected
As Forrest Gump so famously quoted his momma, “Life was like a box of chocolates. You never know what you’re gonna get.” So it is with finances. You never know when you might need to access additional funds, which is why an “emergency fund” of some kind is always advisable - but that means disciplined saving.

If you’re unsure where to start, contact your financial advisor for advice on how best to create a plan to save more so that you, too, can feel happier, realise your dreams, and sleep peacefully at night.

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