The consequence of not planning and saving enough for life after work can play out in many ways. It may not necessarily be disastrous, but it could prevent you from having a decent retirement.

If you wish to have a nice and lovely life after work, you really have to work and save for it. This is why savings is so important to everybody's personal finance efforts.

For those who think saving is a waste of time, here are five things that will probably happen to them.

1. You'll get drowned in debt

One of the best ways to avoid getting drowned in debt is to have enough savings you can fall back on every time you go broke. Not having that will always prompt you to beg friends or neighbours to borrow you some money.

If this becomes a habit, you'll keep living from hand to mouth, not because you aren't earning enough but because you are not saving enough.

2. You'll leave your families with financial stress and burdens

If you spend your active working life incurring debt, you'll no doubt leave a financial burden for your family to shoulder on your behalf. When those who save are enjoying their retirement, you'll probably be running around looking for ways to settle the debt you incurred so many years ago. I am sure that's not the kind of retirement you desire.

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3. You throw your financial future away

Of course, failure to save is like throwing one's financial future away. There'll be absolutely nothing to fall back on when you refuse to plan for the future.

4. You may have to sell your properties

This is another negative result of people's negative attitude towards saving. When there is nothing to fall back on for sustenance, the little property you have would have to suffer for your financial recklessness.