The best reason why it is important to save money is because we can't predict the future. Saving money can help you become financially secure and provide a safety net in case of an emergency. Without money put away in savings and/or investments, you open yourself up to other risks as well.

The measuring stick for being financially independent is different depending on who you talk to. However, the one thing that the notion of “being financially independent” means to most people is having freedom to spend money without relying to credits and loans and having enough savings and investment to depend on for the years to come .