Saving money is very important. It will help us handle any unnecessary expenses and uncertain situations with ease. Experts advise having an emergency fund that covers at least 6 months to 1 year expenses. But saving can be combined with investment with the schemes launched by the Government of India.  Emergencies : Emergency situations can knock anyone’s door at any time. One has to be prepared for medical emergencies, national emergencies, etc. To be prepared, having an emergency fund is important. One can use any savings bank account to deposit money for emergency purposes. Bank savings account gives interest on deposits. Uncertainties : Uncertainties like job loss are more common now. There is no security for anyone’s job. A sudden loss of income might affect an entire family.  Financial Discipline : Saving and investing regularly can inculcate discipline in one's life. Bank auto debits have made this easier to achieve. Future planning : One doesn’t just have a saving plan for emergencies or uncertainties. They need to plan for a better future. Investing in long term plans like PPF, NSC and FDs can aid the person during retirement or any other financial goals. Hassle free life : Planning now for the future is important. With savings and investments in place for all financial life goals like retirement, children’s education and marriage, one can lead a hassle free life.