As we all say at Liberty, it is never too late to start saving. Saving is one of our core principles and a guiding behaviour that informs much of how we operate. There are several ways a strong savings can be beneficial to you.
Protection for a rainy day: this might be the most obvious reason as saving ensures that in times of emergency or hardship, you have something to fall back on.
Be a better borrower: having solid savings makes you far more attractive to lenders as it shows good money management skills and can even be used as collateral to back up your credit.
Achieving your goals: saving can be the perfect way to accomplish something that may seem out of reach in the immediate. With a good savings plan, you can chart your way to any of the achievements you desire.
Retirement planning: it is important to ensure a comfortable life for yourself once working is no longer a priority. When the flexibility that comes with retirement is coupled with healthy savings, the possibilities are endless.
Peace of mind: knowing that you have savings set aside allows you to navigate the world with the assurance that you will not ruin your financial status in one fell swoop. You feel more emboldened to take the risks that can produce good yields. The confidence that you develop when you prove to yourself you can manage your money well will extend into various aspects of your life.
There’s no good reason not to get into the habit of saving. At Liberty, we make it easy, with trained professionals who can help you to find the perfect savings options for you. So, start saving now and you’ll soon come to realise you’re richer than you think!
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