3 Reasons Why Saving Money Is A Good Idea

Rick is enjoying his coffee in his spacious kitchen overlooking the backyard garden.

His wife of 10 years, Claire, is by his side.

He’s about to head into the office when he hears the phone ring from the other room.

He hollers at Claire that he’ll get it as he steps into the library to retrieve the call…

A: Hello?

B: Hey buddy, listen up. 

A: Who is this?

B: It’s your future self. I am a few decades older now. I really need you to listen. There is a shot you can change how the future turns out.

A: Ok? Clarify because I am heading to the office after I surprise my wife with her new car.

B: No, don’t do that! Save the cash, invest it, do your research, but definitely, you need to invest it, please! You’re going to need it. Trust me.

A: What the…?

B: Look, I can’t go into all that. Claire. Your wife. Our wife. She leaves you because you wouldn’t pay attention to her. You were too focused making and spending money. It turns out she wasn’t into all the gifts. She just wanted you to love her. Hey, I gotta go. Save and invest that money, ya hear? And no other silly shenanigans.


You may be thinking what the heck was that?

That was a small glimpse of someone else’s future. Will yours be similar?

These days it’s easy to put off the inevitable – getting older, having to make the hard decisions, saving.

Ya know – adulting?

But hey, if you don’t manage your life and finances, who else is going to do it?

Let’s take a look at 3 life-altering circumstances which can happen to anyone.

saving money

3 Reasons Why Saving Money Is A Good Idea

#1. Your Job Is Not Secure.

Let’s take a look at two real scenarios in the working environment that may affect you.

Office Dynamics 

Let’s say you have a cushy office with a great boss that actually listens to you!

Now, fast forward a few years, that boss retires and instead of promoting you, they hire someone new for the role.

No problem though, because you didn’t want a managerial role in your career path anyway.

What if I told you that your new boss despised you, for no given reason – they just didn’t like you?

Here’s a work-related example of how one person’s world shifted.

An acquaintance of mine, let’s call him Ben, majored in Marketing with a minor in Management.

A great communicator who did well interacting with different people.

From the get-go, he chose the wrong major for his chosen career path.

He wanted to be in Management.

Sure, he would get opportunities, but it may be more difficult.

He was in luck – he had friends in high places.

Before long, he was in a District Manager position managing a region of U.S. stores for a well-known grocer.

This type of position is amazing right out of college – a high-level managerial role with no real experience.

I bet you can imagine what happened about three years into his high-flying role.

His boss left the company and was replaced by a woman who did not have a liking for him – AT ALL.

From what he recounted, she reprimanded him on areas that he felt that he was being wrongly disciplined for and eventually he made the decision to leave.

He was essentially pushed out of his position for a reason only the woman who sat one level above him would know.

It just so happens that the acquaintance was a big spender with no real savings.

His options were very limited as a result.

He was fortunate that he had a few connections and was able to find a job inside a grocery store. No joke.

Company Or Business Volatility

On the same token, your job may not be secure for a completely different reason.

Let’s say, for example, you are working in an industry that is cyclical and every few years there are furloughs or layoffs that occur.

This happens all the time in tech, energy, manufacturing – you name it.

You may see it coming, or you may not. It just depends on how open your company is in alerting you to possible cuts in their workforce.

I have seen my fair share of layoffs in 2 out of 3 of my previous career jobs.

At my first job, the whole 10-person Accounting department got corralled in a conference room at least once a week to be reminded of the inevitable end to our jobs.

As you can imagine, each time it was uncomfortable. I remember feeling sorry for the people who had dedicated a large part of their lives to the company.

I was in my early 20’s, attending school, and just starting out in life – but I can’t speak for the livelihoods of my colleagues.

It woke me up to the fact that nothing is guaranteed – not even your job.

Key Takeaways:

Not one job out there is secure. You are expendable to any company.

Be prepared for the decisions you will need to make in case you fall into a situation which dictates that you make a move – career or otherwise.

Prepare now for hard times. Have the ability to sustain yourself financially.

saving money

#2. Health Is Not Guaranteed.

Each year that passes will inevitably bring along health concerns.

I’m in my early 30’s, but I can tell that I’m going to have more issues in the future with my left knee. This is the one that has always given me problems.

Is it normal that it clicks when I climb stairs? I’m thinking, no.

In the grand scheme of age-related health issues, this may seem minor, but it has me thinking about what the future may hold.

In other cases, it may be when you are much older that you realize that you have health concerns.

This can be a problem if your only cash flow comes from working the 9-5.

You may have experience with an elder that can’t retire because they don’t have the funds to do so.

Even worse, their health is visibly giving way, yet they continue working to draw a paycheck.

Key Takeaways:

Health problems may leave you unable to work.

Some ailments may come slowly or occur as a result of an accident.

Leaving a job to tend to an illness may not be feasible if you’re living paycheck-to-paycheck.

When it’s time to retire, the proper cash flow is necessary to tend to health concerns.

#3. Divorce May Be In The Future.

Whether you are currently married or are still waiting for your prince or princess, this will concern you.

According to APA.org, 40 to 50 percent of married couples in the United States divorce.

The divorce rate for subsequent marriages is even higher.

These statistics are not surprising to me.

Chances are you know someone who is a divorcee.

I do, and it hits close to home.

Look, it is very plausible that you won’t be a statistic, but keep in mind, that you can only control your actions.

Things change, people change – it happens. 

Of course, I’m a proponent of marriage and working to make it a long-lasting relationship.


Here’s a real story that’s all too common – divorce, in this case in his early 50’s.

Wilbur’s Predicament

An acquaintance of mine, let’s call him Wilbur, married and started a small family.

He turns 66 next year with no plans to retire.

Would he prefer to retire? Yes.

Can he retire? No.

How do I know this? I asked him.

You see, he married his sweetheart in Nevada and then moved to the Southwest, where he raised a family and likely thought he would grow old with his wife, Wanda.

That all ended when Wanda decided that she no longer wanted to be married to him.

Looking in, you could tell that being opposite is what initially drew them together.

Now, it was driving them apart.

Wanda, a Type-A go-getter had started her own business, while Type-B Wilbur was the muscle working alongside, doing all the grunt work to get the company off the ground.

Well, working relationships can strain the marriage, and that’s what ended up happening here.

Love was lost, a friendship took its place, and a divorce occurred.

Wilbur had never planned to divorce and was in it for the long haul.

It makes sense why he didn’t plan for his future, as he expected the business they built together to support them both well into their golden years.

But now he found himself alone, with few marketable skills.

Wanda paid his credit cards off as a parting gift, but he was left with $0 to his name.

He started over in his early 50’s.

He is 65 now, still working full-time, and likely will rely on social security to make ends meet.

Divorce causes an entire frame-shift in how one views and plans for their future.

There are immediate concerns such as housing, employment, and family.

This is why it’s important to think about such an event now and at least have a plan in case the worst happens.

After the gavel drops, the unprepared person will suffer serious setbacks and will likely be forced to make uninformed and rash decisions which will impact their financial future.

Key Takeaways:

Marriages can end abruptly.

Divorce is at an all-time high.

Plan for the future with your mate, but also plan a worse case scenario in case it ends unexpectedly.

saving money

Areas To Review

Now, I want to liven this discussion up a bit.

I probably fully depressed you to the point you’re likely going to want to gorge on a pint of ice cream later.

Don’t worry, it’s looking up from here.

You’ve been faced with these challenges mentally – now it’s time to take action.

Job Loss:

The 4 Steps To Prepare Financially For A Job Loss has my personal experience from my most recent layoff.

Included are financial tips that will help you prepare for a job loss.

There are also non-financial considerations, because losing a job will see both financial and emotional disruption.

If you’re currently unemployed and looking for a position, check out Job Search, What To Do Right Away for some tips.


Just like a job-loss, not every health event comes with a warning.

Along with living a healthful lifestyle and maintaining your healthcare coverage, having a savings vehicle is necessary.

It’s important to ensure you have the ability to maintain your lifestyle despite an extended absence from work.

This comes from funding an emergency fund that can cover several months of bills.

Also, care should also be taken to ensure that expenses on actual medical care are minimized.

If you have the option of a high-deductible health plan and want to learn more about a savings vehicle for your healthcare – read about the amazing benefits here and consider if it’s the right option for you.


Mutual agreement – Financially, the main ways to hedge against the risk of marriage failure is the use of a prenuptial or post-nuptial agreement.

Though not very romantic, this may be a viable option if you’re concerned about your current or future marriage.

Non-wage earning spouse – A way to sustain yourself in case your marriage were to fail is to always have options. The risk of a failed marriage is one thing, but not having a “next-step” plan is another.

Maintaining marketable skills and continuing to be active in the job arena will only prove to better your standing in case of a divorce or even an untimely death of a spouse.

I say “non-wage” earning instead of “non-working” because your spouse may stay home as you are building a family – and we all know that is hard work!

Unmarried – If you’re unmarried, but see it on the horizon, my suggestion is to set your sights on finding a financially compatible match.

Money is a large component of one’s life and the decisions made with money can translate into other areas that may be undesirable. Of course, this largely varies…

Married – Marriage is the one relationship that needs to be worked on each and every day. It’s easy to go with the status quo and put the happiness of your spouse to the wayside.

It takes work and just like anything in life, there is continued learning that needs to take place.

A good read to strengthen and improve your marriage is the 5 Love Languages” by Gary Chapman.

From my experience, it’s necessary that both parties read it.

Bottom Line

Imagine how your mindset would change if you had money in savings to help you maneuver through life’s obstacles.

This whole post was to show you that you can control how these life events affect you financially.

All it takes is $1 at a time, 1 day at a time. You can do it. 

Here are related articles that will help you jumpstart your saving initiatives and money prowess:

Full-Time Dollars 9-5 redefined

Read more about my mission HERE.

*As with all financial and investment decisions, consult a professional. Read disclaimer here.

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Readers, what is the #1 factor that your younger self should have taken seriously in considering the future? Please share your experiences below for people who are reading this and are needing your support!

Photo cred: Pixabay/Stock Snap
Last edit 1/6/2019


  • Mrs. Defined Sight

    Awwwwwww! hated this article – made me feel like my least favorite teacher was coming at me with a really big ruler! In all seriousness – this was an amazing piece of writing and very well done! You hit the reader (me!) with some impactful statements that made me think about my own situations. Well done! I too was cut from a temporary job..sad part about it I was so happy to be working there! Lucky, I was only 19 and bounced back quickly. I have that story saved in a draft somewhere waiting until I’m ready to relive that again! Lol! I think the side hustle of blogging has been great for our marriage. We are focused on a Defined Sight – I think it’s so much easier as both are heads are in the same place, and not distracted by anything else. Well, our real day jobs but we are able to shut those off after 5pm most days! Again – great piece. Keep it up!

    • Full-Time Dollars

      I wrote this article in early November and it came easily to me because I was thinking through reasons why people need to truly start saving. Nothing in life is guaranteed – that’s the reality that some time in the future, something will go awry, and it will likely relate to one of these three reasons. Eh, actually there was one more reason that I kind of touched upon, but I didn’t want to write at length on it.

      I’m curious to read the story about your job situation when it gets posted. I’ll keep an eye out for it!

  • Retiring On My Terms

    Thanks for sharing this post! It’s a great reminder not to take anything for granted. I’m fortunate that I have never lost a job and am still married, but I have had major and unexpected health problems at a relatively young age. You never know when your situation is going to change because of circumstances out of your control, and it’s good to have something to fall back on!

    • Full-Time Dollars

      I think until you’re put in a life-altering situation, it’s really hard to envision something going wrong. It’s much easier to ignore those aspects. And yes, especially circumstances outside our control. With health, unfortunately, it can come all too sudden and without any warning. Thanks for commenting and sharing, ROMT!

    • Full-Time Dollars

      Absolutely! Investing for the long haul and saving intentionally for possible life-changing events will set anyone on the right track.

  • Anders

    Hi and thank you for this article!

    I wish my future self would have called me ten years ago and explained that I needed to invest my money.

    I’m about to quit a job that is soul-sucking and that already caused me to experience burnout.

    Our family has good financial sense and have savings enough to support us for half a year without any income. But, it would have been nice to have even more to feel more secure.

    Investing early would have helped us have this security.

    Thank you for a good article on a very important subject.

    • Full-Time Dollars

      Hey Anders –

      Hindsight is 20/20. Even though I started investing in my early 20’s I wish I was more deliberate towards that end. At the time, I figured I was going to work until full retirement age. I never would have thought I would have taken any other route. That’s life for ya!

      Here’s to wishing you the best in finding a new job that works for you!

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