Is It Compulsory To Save Money?

[Bisolami]

A lot of people say that it is compulsory to save money and some people say that it is necessary to save money. I think it is more necessary to save money than making it compulsory because some people who are not saving money are still doing well but it may be very hard for them.

Saving money is very necessary for everybody because it saves you during rainy days and you can even use the money to do something reasonable instead of not having any money that you have saved at all. You need to save money because it will save you from emergencies. And you will not have to stress yourself to start running here and there when you have an emergency.

Saving money sometimes helps you to bring up a business idea because some people tend to think or reason well when they have money. They will be able to think about what business they can use the money to do instead of spending the money recklessly or spending the money on things that are not even important to them.

I think I go with the fact that saving money is necessary but it is not compulsory.

 

[Ebo01]

It is complusory to save money, traders, business men, government officials , artisans and even students are beneficiary to have an account in the bank. It is a modern way of keeping money and helps us to be frugal in spending, as we know that money can be kept for different motives, 1.Precautional motives ,2. Emergency, Health purpose, 3. For Education 4.for Food 5. For Utility bills.

 

[Suba]

Saving money is necessary or compulsory, it will depend on circumstances and time and of course it will be different for everyone. If you say saving is necessary, it means that your financial condition is calm, meaning that you don't have more urgent desires, such as having a new car or certain financial targets, such as if you already have a strong desire that next year you will already own at least 1 lot of Google stock, it means at least you need money of at least $ 10 thousand, and you should be able to save $ 1000 per month. because there are brokerage fees and transaction fees plus value added tax. So your strong desire to own at least 1 lot of Google shares will be compulsory.

 

[RubyTheGirl]

No, it is not compulsory to save money. Saving money is a personal choice and depends on an individual's financial circumstances and goals.

 

[Yusra3]

You don't have to save money. You're a grown-up, after all.

But you probably do have to save money, because you're not just a kid anymore. You're an adult with bills and rent and a mortgage and all kinds of things you need to pay for eventually and that happens whether you know how much money those things are going to cost or not.

So do it! Set aside some money every month in your budget, so that when the time comes to buy something new or upgrade your home or whatever else it is you need to do, there's already money in the bank waiting for it. Just make sure not to spend more than you've budgeted for!

 

[Activator230822]

I too think that saving money is so necessary on our lives. However with savings you can think of taking business ventures as investment. It's quite easily to do investments on savings than without.

-Saving is again very important to a person because it can help you to tackle emergency cases and other financial needs that actually don't give out notices when they come on our ways.

-Saving your financial resources is therefore very important as it can help you solve some financial needs that requires alot of money on the go. For instance taking your children to the university or the higher learning institutions.