5 Reasons for Women to Start Saving (a bit) Today

This week, 4 different persons told me they have absolutely no money aside. Zero. Nada. Nothing. So here’s a post about why you might want to start saving (at least a bit) and how to start! Did you know that financial experts recommend having an emergency fund equal to 3 months of living expenses?

We all have our own reasons for living life the way we do. Some of us prefer stability and security, while others thrive on adventure and excitement. But, no matter where our priorities lie, one thing is for sure – we all want to be able to make the most of every opportunity that comes our way. And that’s why saving money should be a top priority for every woman (and man).

And I mean it! You should start thinking about having some savings even if you don’t want to retire with 40 like Mr. Money Mustache, even if you like your work and the way you live your life.

Here are five reasons why you should start saving up today:

1. To be financially secure in the future: No one knows what the future holds, but saving money can help you prepare for whatever comes your way. Maybe next year, your best friend will invite you to spend 2 months in Asia with her! Or maybe you’ll want to travel somewhere else. Maybe you’ll want to start an expensive course on a subject you’re passionate about. Or invest in something. Or learn a new language at a language!
2. To enjoy life to the fullest: Travel, experiences, and material goods are all great things to spend money on, but they’re even better when you’ve saved up for them. When you’ve set aside money specifically for something you’ve been looking forward to, you’ll appreciate it all the more.
3. To challenge yourself: Saving money requires discipline and self-control. It’s a great opportunity to prove to yourself that you can stick to a plan and achieve your goals. It will make you enjoy delayed gratification and help you put things in perspective: Do I need this now or can I wait 3 days before getting it? As a rule, if I want to buy something that costs more than 200 Euros, I wait 2-3 days before getting it, even if I have the money for it. Like this, I can see if it’s something I really want or if it’s a whim.
4. To be independent: Whether you’re single or in a relationship, having your own savings gives you a sense of independence and security. You’ll know that you have the means to support yourself if needed, and that you’re not reliant on anyone else. You’ll be amazed about the number of couples who stay together just a little bit longer just because one of the partners doesn’t have the financial means to move out. Do you really want to be stuck living your old life with your ex even if you don’t love him/her anymore?
5. By saving money, you’ll be demonstrating that you’re growing up and taking control of your life. Once you have the self-discipline to save, you can start investing and that’s where the fun begins! But that can be a topic for another post!

In conclusion, saving money should be a priority for every woman. Whether you’re looking for financial security, new experiences, or personal growth, having a nest egg will help you achieve your goals. Don’t let the fear of the unknown hold you back – start saving up today, and enjoy all the benefits that come with it. This doesn’t mean you need to sit on a pile of money or swim in it, like Donald Duck! It just means you should have a small backup fund (around 3 months of salary).

How do you start saving? Don’t make things difficult! Just open a vault on Revolut or a savings account and put a small amount of money in it as soon as you get your salary, then forget about it! It doesn’t have to be painful or feel like a sacrifice. Here are some ideas to help you get started:

1. Automate your savings: Consider setting up automatic transfers from your checking account to your savings account. This way, you can save consistently without even having to think about it.
2. Find free or low-cost entertainment: Instead of spending money on expensive entertainment, look for free or low-cost alternatives like visiting a local park, having a picnic, or renting a movie from the library. Once a month, replace an expensive option with an inexpensive one! It’ll help boost your creativity and you won’t feel like missing out on something!
3. Pack your lunch: Eating out for lunch every day can add up quickly. Instead, pack your lunch from home from time to time to save money and eat healthier.

Questions? Remarks? Don’t be shy in the comments!