What is one of the main purposes of saving according to personal finance principles?

One of the main purposes of saving in personal finance is to achieve financial freedom. Financial freedom refers to the state of having sufficient personal wealth to live without having to work actively for basic necessities. By saving, individuals build a financial cushion that allows them to take control of their finances, reduce stress, and make choices that align with their long-term goals rather than being constrained by their immediate financial situations.

Saving is crucial for creating a safety net for emergencies, investing in future opportunities, and ensuring that long-term financial goals, such as retirement or purchasing a home, can be met. This empowers individuals to make decisions based on their preferences and aspirations rather than being limited by a lack of funds. Therefore, achieving financial freedom is a fundamental goal of saving, as it provides the means to live a more fulfilling and secure life.