Saving Money Saving as a way out of poverty?

[Bookwormlux]

A lot of poor people and middle class are usually of the belief that saving money is the best way to get out of poverty , and I really want us to look in to this and shared what we think about it .

It is not easy to be managing your life as poor person and still be thinking about saving money again , this usually comes with a lot of stress and high sense of financial discipline that we know is not common in our world today .

I really doubt if saving money is actually a way of getting out of poverty. This is because the savings amount would not even amount to some huge some of money at the end of the year when you are trying to assess how far you have come with the savings goals .

There are lucky instances where by poor people who saved some good money were able to get some investment opportunities which they utilised and were able to attain financial Independence through it .

However , we ought to bear in mind that only a few make it through this means and this is why I am saying that it is not a reliable method of getting rich .


What do you think about Savings , especially when you consider its potentials in being able to help individuals to attain some level of wealth that would make them financially independent ?

 

[Kendy]

Saving money might not be seen by some people as a way out of poverty but in its technicality, saving money is definitely a way out of poverty. Before anyone makes the decision to save money, he or she has a target to achieve either in the short or long run. It could be to start a business, purchase a real estate property, paying of house rents or investing in other profitable ways. Now, this is only made possible because of the ability to save. If the savings was not available, an individual would either have the alternative to loan money from financial institutions or money lenders and face whatever challenges comes with it.


Saving money is a practical way of finding your way out of poverty. If I am able to save money and I utilize it in starting a business, it means I have been able to put the money into effective use and I would not be pressurized because the money is solely from my pocket whereas if I did not have any savings, I might have to loan money and I do not have any assurances if the business I engage or whichever investment would be profitable. In summary, saving money is a necessary step to eradicating poverty.