There are many but below are some of them:
- It helps to build your net worth (Net worth is your total assets minus the total liabilities)
- It helps you to become financially independent. Else throughout your life, you will be dependent on your job and other for your financial security
- It helps to make your money grow at a rate faster than inflation
- It helps to ensure that you have sufficient money to fall back on in times of emergency
- It helps to fulfill your dreams and financial goals like buying a house or a car, going on a foreign vacation, getting married, etc.
- It helps you to become rich over the long term
- It gives you mental peace and boosts your self-esteem when you know that you don’t have to rely on anyone else for your financial needs.