It occurred to me that although I talk a lot about the how of finances, I don’t often talk about the why. I’ll babble on about how to invest your retirement or pay off your debt, but I don’t talk about why you should. I’ve tried to help some friends before whose spending is out of control. They’ve got: no budget, no plan and no desire to change. They get a dollar, they spend a dollar. They don’t have a dollar, they still spend a dollar. I’ve talked myself blue in the face trying to help them, but it was all in vain. I realized that until you figure out the why, you’ll never have the motivation for the how. Here’s why being financially free is a must.

1) For yourself.

If you don’t look after yourself, how can you expect anyone else to? Taking responsibility for yourself and your actions is paramount. Life is all about making progress and even if you’re only saving $50 a month, that still helps. You owe it to yourself to take care of yourself. At the end of the day, you’re ultimately responsible for you. Mommy and Daddy nor your rich uncle nor the government will be there to take care of you. Although there are safety nets, you certainly don’t want to find yourself being caught in those. Strive to lead a life in which you spend less than you earn and that you put a little away for those rainy days that will inevitably come.

2) For others.

Leading a life in which you only focus on yourself will leave you dying lonely and unfulfilled. Living a life in which you are comfortable and secure in your own finances (point #1) will allow you to be a blessing to others and you’ll be able to leave your surroundings a little nicer than you left them. Whether it’s making a donation to your local food bank, giving someone in need $10 or even treating your friends/family to a nice dinner, by being financially free, you’ll have the means to bless others.

3) For your future.

None of us want to work for ever. None of us want to be caught unprepared for an emergency. None of us want it to be a burden on others when we get older. Although the future is uncertain and we’re not guaranteed tomorrow, one thing’s for sure; it ain’t gonna be cheap. By having the self-discipline to not spend all your money now and put some away for later, you’ll be able to face whatever life throws you when you get older. Whether it’s buying a house, being able to retire comfortably, or even surviving an surgery that puts you out for 6 months, you’ll be ready.

Being financially secure is so much more than budgets, savings accounts and credit cards; it’s a way to ensure that you’ll be ok in life and that you’ll be able to help others be ok as well. No one likes a mooch and it’s just plain selfish not preparing on your own. Take some responsibility, say no to the dress and resolve for yourself to start down the path of financial freedom….because you can’t afford not to!

Thanks for reading! Here’s another you might enjoy:

Remembering to enjoy your money

Don’t waste your life away