Most people assume if they only have a small amount to save and invest that it’s not worth the bother. But, is $0 saved better than some? Living paycheck to paycheck feels awful and stressful. Having money in the bank makes you experience feelings of abundance every single day. That is priceless. It requires sacrifice, mostly of the short-term instant gratifying stuff, but it changes your whole life from one of stress and destitution to “riches”. I don’t mean you need money to be happy, but certainly having no money isn’t the makings of happiness. Money frees you! It frees you from worry that you and your family will have what they need. It frees you from the stress of not having enough to cover your debt (which I think you should free yourself). It frees you from having to work a job you hate. It frees you from the stress and worry of losing your housing, food, etc. It frees you from work entirely if you plan well. That’s my why.
$50 a month at a 7% return compounds to ~$24,791 in 20 years. Try this calculator for fun and try different amounts: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator
