It’s hard for most people to save money, but it is probably the hardest for people who are young; retirement is decades away, money is tight, the desire to be on-trend is higher and the urge to accumulate both needed and wanted possessions is strong. It seems counter-intuitive to suggest that anyone in this stage of life make building wealth a financial goal, but that is exactly what you should do. Save and invest in your future! Your 40-year-old self will thank you.

People who save typically:

• live through financial crises better.
• are less stressed.
• reach their goals faster.
• have more options.
• have higher self-esteem.
• are more confident.
• enjoy a higher quality of life, especially as they age.
• … and if that’s not enough, consider the magical power of compound interest.