So we all know how important savings are, but did you know savings occur more frequently during turmoil then prosperity? It's true, history shows during the recessionary periods you can see the U.S. Savings Rate higher than periods when the economy isn't experiencing a recession.

The U.S Savings Rate 14%+ during the 1975 recession and shortly after declined to about 7%; 2001 recession saw a savings rate of 4.5%+ while today it's approximately 0.5%. When working with a new client, my goal is to get them to save slightly more than the current savings rate if possible (depending on their short- and long-term goals). Realistically, saving money is just a difficult task to accomplish for some while others understand why savings are always so important to their financial wellbeing.

I'm going to list some reasons why savings are important, with most of these reasons being obvious to many, a handful may not:

1. Income Loss: If you lose your job for any reason and you do not have any income and thus no way of meeting your financial obligations this can result in devastation to your lifestyle and potentially your credit as you find alternatives to pay for bills by using credit cards or line of credits.
2. Unexpected Occurrences: Emergencies are the number one reason why people fall prey to maxed out credit cards and personal loans. It's much harder to get back on a budget once you charged up cards and taking out loans that weren't previously there to worry about.
3. Goals: Many of us can't reach a goal overnight because it takes time and a great deal of patience. If a savings goal is one you would like to accomplish, do so gradually until you have cushion for loss of income and a fund for unexpected occurrences.

How to help save money while shopping can be simple, some may feel as though they need to swallow their pride but making the dollar store a top priority every month is great start. Here you can shop for necessities and basic household items without feeling cheap once leaving out because many chains carry brand name items (if you are willing to go to the dollar store when you don't have much why not go when you have much more). Are frequent car washes necessary if you aren't a frequent driver? While I'm a fan of Wal-Mart, it's only because the super-centers or locations that offer perishable items are considerably cheaper than your traditional grocery stores. Negotiating deals whenever you can, try shaving off dollars from the necessities and wants in life you have monthly subscriptions or obligations for. From magazines and newspapers to cable and daycare (daycare cost may be $300.00 per week, but try striking a deal with the daycare provider by asking for a small discount of $10.00 per week which will equate to a savings of $520.00 per year, some providers won't go nuts about losing out on $10.00 a week if you're a loyal client).

Continue to practice these techniques and make them a habit, before you know it you will be saving money all over.