Is there any disadvantage of saving money?

[TOZZIBLINKZ]

We all are familiar that there is a whole lot of advantage that comes with saving money , but have you ever for once thought if there is at any chance any disadvantage that comes with saving money . As unbelievable as it may sound , there are some disadvantage that comes with saving money . First of all let us consider some of the benefits why it is advised for us to save money . Saving money will allow us to be able to partake in an online or offline investment especially when a risk-free or risk-less one shows up . Saving of money also will make us be initially equip when handling solving and Cater for future unforeseen and uncalled circumstances , circumstances like being able to buy drugs when you or a member of the family become sick or ill , being able to pay unexpected bills like rent and electricity bills , and finally being able to transport yourself possibly from one location to another in the face of environmental and political crisis like war .

As a result of saving money in huge and high security based financial institutions so as to be able to cater for future and unforeseen circumstances , you will miss out on big life experiences and opportunities like going for a vacation and eating assorted meals in assorted restaurants and eateries . Also majority of people today overwork themselves so as to have money to spend and save , in this way you endanger your health and put it at risk because you've been overworking your bodies . That could often lead to health issues like stress , depression , and fatigue .

 

[Augusta]

The truth is that everything no matter how great they are always have their downsides so this why you need to balance up all the actions you would take when it comes to your finances. Yes I wouldn't advise anyone not to save because saving saves life especially if you don't know the future which nobody knows anyway, so you just always save because anything can happen at anytime. But pray you are around to use your savings for your dreams and not cut short.

I'm writing this out of experience of my dear uncle because what his family did after his demise with his Savings leaves a sour taste on my tongue. infsct the children didn't even get to enjoy their fathers money which I'm sure he was savings for his children future. His brother just got hold of the money and squander all on themselves. So all the toiling daily to save was in vain. Sometimes we can't just understand with life when things don't just happened as planned. So my advise is that we should plan and save but always enjoy the little we can because life is short and unpredictable. Maybe use the savings to invest than keep storing.

 

[eldavis]

Savings has lots of advantages that keeps going on and on, and I would advice anyone not saving should start doing so now. The only disadvantage I can think of when it comes to saving is that saving alone cannot grow your income or make you rich. Saving alone I'd more like keeping your money for future use. It would be alot better if you can save and at the same time invest as well.b

 

[sincerem]

I don't see any demerit with saving money anywhere, it comes with much benefits, at least you're disciplined with how you spend your money. Their are others who aren't disciplined in any way, the way they are spending money, they spend in lavishly like one day millionaires, I always try my best to save money in the bank or around crypto wallet, to avoid being a one day millionaire, where by I spend all I've earned in a month within a single day and suffer all through the days due to lack of money. I prefer saving some percentage, investing some percentage of my earnings in a reasonable investment plan, then have funds to take care of my bills in order to survive as a human, those are necessity needs, needs we can't run away from. I try to cut down my needs, so it wouldn't be too much on me to carry. I hate a situation where my needs are much more more than what I can bear. I rather cut it down than watching it grow more than I can ever imagine. Their is nothing more battling than using all you've laboured for within a single day or few days and suffering long through the days.

 

[Flashkid]

There are many disadvantages of saving money, now let's start with the most obvious.For example you have a plan with the money, and you start feeling tempted there is no other way than to spend the money. But then if you spend it , what are you going to use for your plan.
The second disadvantage is if the money gets stolen by thiefs, sometimes it os better to spend the money than saving the money because if it is some important money where will you get the money to replace it.
The third disadvantage is when everyone else knows that you have the money they start asking for rentals and when you already have plans for the money you can't give them and they feel like you do not want want to give them.

 

[Sotherefore]

Such disadvantage is too minutes to be put into consideration , so I don't really think that there is any serious disadvantage that is involved in saving of money . Sometimes it can only be dangerous when you are saving it under your locker at home or you are just saving your huge amount of money at home.

Because in such cases of saving at home anything can happen to your money . Even if the thief does not come in to steal it , sometimes natural disaster can also affect the money you kept at home . That is why a lot of people will always prefer to save their money in the bank.

I believe saving is the best thing to do for those that have the interest to save money in the bank because for me I don't really have the interest because bank won't give me anything, but the amount of money you save will still be there but the value will be reducing based on the economic condition of our country.

It is even better for people to be investing their money than to save it because if you are saving your money , you can easily use it than when you are investing it ..

 

[Ayeshabashir]

As we know that everything in this world has its pros and cons .As I we talking about the cons or disadvantages of online work then from my perspective the cons of online are very few6as compared to its pros .We all are aware from the advanta6of doing online jobs that is we do not need to take any stress during this jobs and also we don't need to go outside for this .We work here by simply sitting at home if we have smartphone and laptop or computer. And we don't need to work under the pressure of boss.We are independently work here whenever we want.

And if we will talking about the cons of online work then the disadvantage which I feel personally is that if we give our phones laptop our too much screening time then it proves harmful for our eyes because the mobile Ray's are not good for your eyes.And it might be possible that you will face eyesight problems. B3cause excess of everything is bad so try to manage your time properly and avoid to work in darkness. Always work on mobile in light and low the brightness of your device while working. Thank you

 

[Shigobad2020]

The main purpose of saving money is to make sure your future is secured , we saves money of you don't know what the future holds on the business you are doing , we have many reason why we save money.

We save money because of some unforseen circumstances , like what might happened in the future that might need you using money to solve because the current business might fold up and you need to save to sustain yourself .

Secondly , I have been running my business for a while now , and as an entrepreneur , I am saving some money which I called my reserve fund , which I can use to boost up my business or if the business is going through hardship, you can use the reserve fund.
And also we save for important things like you want to do an occasion like wedding anniversary , so you need to save up if you don't have the total amount of money needed.

 

[Oluwasegun purpose]

as for me I don't think if they is any disadvantages of saving money..

But some people use to think that there is any disadvantages of saving money,,but they are all wrong because there is no any disadvantages,but there are lots of advantage of saving money. The first advantage of saving money is that as long you are saving money you are free from any debt ,another advantage is that you can never go broke as long You are saving part of your income...

We also save money for the purpose of emergency and investment,because for instance you are broke and you don't have any money with you and you are been call for an emergency which required money so fast and in that particular period of time and you dont have money with you what are you going to do ,Maybe running to borrow money,but if you have some saving with you it will not be difficult for you to south out....

 

[Heartstrings]

Well,I don't really think there is disadvantages of saving money. But on a second thought,there is a saying that says, whatever has an advantage will also have disadvantage. The only disadvantage I see here in .y own honest opinion is not able to spend the way you feel you should,why because you made it a mandatory to save up little money.

Saving has so many advantages because it helps you with your bills, takes care of your needs and wants. There may be an emergency, because you may be broke someday and at any day,and you will have no one to run to,this is why saving is good and a good plan of paying future bills. Saving any little you can afford is really good the best because we.may be faced with unfamiliar circumstances or huh

 

[Ithedicious]

I always understand the advantage of saving money , but I've never come across any serious disadvantage of saving money because savings of money comes with so many advantage which are too numerous to mention.
Personally I will advise people to save money as much as they can and not minding whatever disadvantage that comes with it because at the end of the day you will happy you made the right decision .

Well from my own point of view , one of the possible disadvantage of saving money is the fact that you may not likely enjoy most of the things you used to if you are serious to save reasonable amount of money.
All the drinking and other things that consumes your money will be limited which to me is not of any disadvantage but it's a way of helping you build a better future with your savings .