How to save money

People save for a variety of reasons: to put money by for unforeseen contingencies; for retirement; for holidays or other expensive purchases; to leave money for a spouse or children after death; to avoid debt. Others save only because they think it is a good idea or that they ‘ought to’. Whatever the motive, saving not only has financial benefits, it can also improve psychological wellbeing and emotional health. Of course, not everyone is in a position to save, particularly right now – for people with significant debt, living on minimum wages or chronically unemployed, saving is not a realistic priority. ….[READ]