Why do you need to save?

For emergencies: One of the reasons is to make sure there’s money available if something unexpected happens, like you or a family member get sick, you lose a job, in case of disasters and calamity. It is important that you have enough savings to keep you going until everything is back to normal.

To fund luxuries: You work and its not bad to enjoy the fruit of your labor. This might include a vacation or buying a new car or gadgets such as a tablet, computer or phone.

To live a comfortable life in the future: although it may seem very far away, but time flies, and once you stop working, your income will surely go down. By that time, you’ll probably have to rely on your investments or money you’ve saved to keep up with your standard of living.