Saving is Imperative!

Saving is important, for the past, present and the future, but takes a plan.

Everyone has a different reason for saving, just as all people differ in income, and in expenses that are deemed necessary. But one thing that doesn't differ is the need to save. Saving is perhaps the single most important thing that any person can do for financial success.

For the individual, savings translates into power. It might be the power to afford a down payment on a home, which would then allow the transition from the perpetual renter to the stable home owner. Or perhaps it might be the power to afford a used car, and therefore be able to make it to a better job across town.

More importantly, Savings creates freedom from debt. Savings can translate into power in every area of finance, by ending the habit of buying on credit. A person who has developed the discipline to save, will also have developed the discipline to control spending. This will lead to planned purchases, and an end to impulse item purchasing -- an activity that frequently leads to credit card transactions.