Saving money is important for the future and it's also a good way to avoid feeling guilty about spending your hard-earned cash. What is savings? Savings is the act of setting aside money on a regular basis to be used for future purposes. This can be done in a number of ways, such as through a savings account at a bank or credit union, by investing in stocks, bonds, or other securities, or by buying property. The main benefit of savings is that it provides people with a financial cushion to fall back on in case of an emergency. It can also help them reach their long-term financial goals, such as buying a home or retiring comfortably. Another advantage of savings is that it can help people keep up with inflation. When the cost of living goes up but incomes don’t, people’s standard of living falls unless they have some extra money put away. Benefits of saving money Saving money has many benefits that can help improve your life. Some of the ...