How many times have you gone to pay for something and wished you had a little savings account that took care of these kinds of things? Well, saving for a rainy day is a great way of building your savings, and making sure you’ve got the money to pay for whatever it is you need to do.
With an app like Revolut, you can dedicate as little or as much as you want to your rainy-day saving, and with time it will grow, and develop into a useful pot of money. Here are four reasons you should start saving for a rainy day.
1. Unexpected Things Happen
This is a fact of life! Things happen that we have no control over, and often, they tend to cost you money. If you’ve got a pot of money saved away for a rainy day, then that gives you the extra flexibility to be able to deal with whatever crisis has struck without it affecting your daily life.
If you need extra financial flexibility, you can always get a small loan from a trusted broker like CashLady, but it’s always useful to have some money saved away for a rainy day.
For really big unexpected issues, make sure and check out my recent article on how an emergency fund can protect your family.
2. Sometimes You’ve Just Got to Get Away
We spend our lives working hard, following routines, and for the most part, we enjoy the lives we lead, but there comes a time where you’ve just got to get away and take a break. Whether that’s to go skydiving and cliff jumping, or to go and chill out by a pool, we all need a break sometimes, and a rainy-day savings pot can allow you to do this.
It’s helpful to have something to work towards when saving, and the perfect getaway is an ideal goal.
3. People Change
Life may throw unexpected challenges at us, but we also grow and change as people. What we want today might look completely different from what we want in five years’ time. Today, you could be in your mid-twenties enjoying the single life, but by the time you’re 30, you might be paying for your daughter’s ballet classes.
When your life priorities do change and you feel the financial pressures of those changes, you’ll be thankful that you started to build your savings fund. We can’t know what we will be doing in the future, so it’s always good to put some money away now so that we’ve got that flexibility.
Of course, this isn’t a rainy day, but you’ll appreciate the money none the less!
4. It Might Just Be a Rainy Day
Your rainy-day saving doesn’t have to be huge, it might just be enough to cover some fun activities for the family on a rainy day. You get those days once in a while where the weather is horrible, and you just want to get everyone out of the house and doing a fun activity.
Whether that’s going to the movie theatre, ten-pin bowling, or whatever it might be, you can break open your rainy-day piggy bank and treat the family to a fun day out.