BBBTipsTM on Saving and Investing WHY Are Savings Important? Each of us could quickly think of several reasons why we don't save more money. Excuses range from the routine (there's nothing left at the end of the month…any extra money goes to pay off debt) to the philosophical (who knows what the future might bring…I can't live my life worrying about finances). These excuses ignore two simple facts: personal savings are important and saving money is doable! Even the most modest savings account comes in handy for unexpected expenses, like car repairs or medical emergencies. (more)