A problem you will tend to find with saving is that unless you have a specific goal in mind, then saving can be quite difficult.

Saving without a purpose can make the entire process of saving much more difficult than it really is. When you think about it, saving just requires you to spend a little less and put away some of your unused money into a separate account.

What make that so difficult? The reason it becomes difficult is that we tend to find ways to spend our money when we have no goal in mind. You might just walk by a store and something will catch your attention and if you know you have the money to spend, then chances are you will not hesitate to purchase the item.

With a goal you will be able to keep on track with your plan to save and when the time comes you can do what you intended to do with the money you have spend saving.

What some people come to find when they reach their goal is that they have saved quite a bit of money and do not wish to see it go right away; instead they might want to start saving some more for an even bigger goal. There is no problem with this option as well but do remember that you will never be able to enjoy what you have earned if it just sits in a savings account.

If you do want to save for a long term reason, consider opening an RRSP if you haven’t already and save until your retirement. Once you retire, hopefully you will have enough money to sit back and enjoy the days ahead without worrying about your finances.