Should you save if your income are low?

[TOZZIBLINKZ]

The question of whether to save money if your incomes are low is one of the question that runs through the mind of individuals that and minimal payment or incomes . It is important that we understand the importance of saving and its benefits and advantages to us . The main reason why we are advised to save is to be able to invest . This is absolutely true , there are a lot of investment that comes into existence almost every year and week , and to be able to invest in some of this risk-free investments we need to already have money . And one of the ways to have money is by saving .

Another reason we save money is to be able to catar , fund , and carry out future unforeseen and uncalled circumstances and urgencies . Sometimes we get sick , or possibly a member of our family could get sick unexpectedly , and so in order to buy drugs to alleviate our illness , or the illness of one of our family member we need to have money to carry out this precautionary and uncalled motive . The absence of not having money in times like this could leave us devastated , disappointed , remorseful , and confused etc . So in order to avoid falling into a situation like this , we must endeavour to save money whether our incomes or earnings is high or low .

 

[blessingc]

Savings are really important incase of emergencies, no matter how low income you it is really important to take out a little to save, that little will grow over time and become a huge some that will come in handy when there's a pressing need or a life to save.

 

[eldavis]

No matter how small you earn, it would be wise to save. Though I think in such a case you can find a legit investment to increase your capital, then save from there. I always advice people, savings should be a habit that is part of you.

 

[Bookwormlux]

Saving is a very important aspect and can be done no matter how much money an individual is making per month .

There is no any excuse that anybody can give for their not be able to save money at all .

No matter how much money you are being paid per month or week in your job, I believe that it is very very important for you to try as much as possible to save the little that you can be able to save .

The main reason why some individual think like this is due to the fact that they believe that savings have to be big sum of money before it is considered saving .

The reality of everything is in the fact that you have to start small, and then this will now give you the motivation to grow the service in the future .

As a matter of fact, any individual who does not know how to save even when earning little income will find it difficult to be able to get any sense of discipline when he or she has started making good amount of money.

Saving is all about the mentality that you have and that will be your motivation always.

 

[Mastergp]

Yes should be my affirmative answer, reason is because when we save little from our low income maybe for a year or two we will come to see that those little money we accumulated would result to something huge in future, it only takes time and effort and low limit of spending to achieve this.

 

[Carpon]

I think the amount you earn should not affect your savings and regardless of how much or little your salary is you can still save.
All you need to do is determine you income and term it 100% and then you sort at least 10% of it as a monthly savings rate
So if you earn $10 per month, you can save $1 monthly and you can see that regardless of how meager the income may be, you can still make a savings plan and adhere to it and it won't do any harm to you or your business life.
So in my humble opinion I don't think the amount you earn will hinder you from saving just that it may limit you on the terms of how much you save. You will save higher if you earn higher and on the other hand save lower if you are earning low. Thank you.