The question of "how much is enough to save" ?

[TOZZIBLINKZ]

A good number of people in the world today are blessed with prestigious and well-paying jobs that pays them huge amount of salary and in this way they have enough to eat , enough to invest , and enough to spend . Yet in another regions of the world they are also a great number of people who are still struggling to survive with little income the earn either from their self-employed or government jobs , and because the income they earn is small they refused to save . But with critical thinking is that enough reason for them to stop serving , let us face consider why it is important to save . First of all human being save cash in order to sort out various unforeseen occurrences , also to sort out issues like illnesses , sicknesses , house rent and investment purposes etc .

Whatever the reason may be the question of how much is enough to save isn't relevant ? Because human beings whether with small or large income most save for the purposes listed above . And no one is guaranteed to be in his or her job forever so no matter how small your income is you must save .

 

[Flow-er]

It's important to save up to 20% of your income. This will cover for unforeseen expenses.

 

[Kendy]

Humans want are unlimited and therefore insatiable. We are likened to Oliver Twist who wants just more. There would be no amount that will be enough for a human to save so long as the money is flowing. This is the more reason why some countries are in a state of bankruptcy because of bad leadership, corruption and mismanagement of funds. Bad authorities and governments will forever keep on looting funds to add to the already hoarded funds to tell you that human wants will forever be insatiable until the day they are no more. There is no stipluation to how much you can save, the bank has an avenue for upgrading accounts to fit in with your money. Also, the most important tbing should be that you make a budget of the savings you want to commit either on a weekly or monthly basis. Savings should be encouraged but you should not limit your development to just savings, this is because, an urgent situation can make all your savings to gey exhausted. It is encouraged that inasmuch as you are saving, you should also invest in either learning a skill or in something substantial that can double your capital.

 

[Sotherefore]

Well I invest my money in cryptocurrencies and I don't necessarily keeps my money in the bank because I just consider it as a waste of resources. whereas cryptocurrencies gives you the best opportunity to increase your money almost by 100% on yearly basis but the bank or any other financial institution in the country can just gives you as high as 10% interest within a period of one year. Because of this I considered cryptocurrency as the best way of investing your money even when it has a speculatals risk.

Concerning investment I try as much as possible to invest the little money I have and I consider that is the best way. I do not like the idea of investing what we can afford to lose because to me it is not really profitable for you to invest a little amount of money on something you believes on .

What I always try to do is that I do not save my money but I invest my money because saving of money is not profitable , at least investing of money you can gain a certain interest and percentage after a certain period of time , That's the best options .

 

[Rachael]

I do not think there is any amount of money which is enough to save. The calculations would be possible if the individual knows the length of his lifespan on earth and can also foresee future events but if this is impossible then to fathom the needed amount to save is not realistic to me. Savings should be imbibed by at the point, do not have it in mind that the amount you save can cater for all your needs. Mostly, savings is meant for emergency issues, I say so because even if directly we do not save for emergency purposes, but you would agree with me that emergency issues do take most part of the savings. I recall when I started saving little by little in 2019 so I could move out of my parent's house and start my life. It was so unfortunate that when I reached almost the target amount I had budgeted, my grandfather who was like a father to me since I lived with him from my childhood days suddenly had a major crisis, which took all my money due to hospital bills, the annoying part is that, he still did not make it despite the funds I invested in seeing him get better.

 

[Kingsley]

This question is difficult to answer because there is alot that must be put in consideration before one can be able to determine what and how much to save. First we must also consider the nature of the person who wants to save and the country where the person resides where the savings will be done. Anyway for the purpose of this post I will be using my country as the case study. First in my country there is hardship and everyone is struggling to survive and the income a vast majority is earning is not enough to cover for all their basic expenses let alone for saving purposes. And when I say the individual who intends to save really matters alot, this is because some people are just naturally greedy and they keep wanting all for themselves and unfortunately those are the kind of people we have in our position of leadership in this country. Hence they keep on amass all the wealth that belongs to the whole country for themselves. And there are some other people who are less greedy hence they spend less and whatever little money they have will certainly be enough for them to take care of themselves.

 

[Ithedicious]

I believe the most important thing will be the type of work you are doing that will determine how much you can be saving on monthly basis.

Normally there is a huge difference between someone that is working in an oil company and someone who is a lower rank civil servant.

A lot of people are earning very good salary on monthly basis and because of that they can save up as much as they will need and also start up whatever they need even with a good saving plan.

In most cases we are always advised to try as much as possible to save at least 30% of our monthly income. But a situation in which the money we are earning on monthly basis is not enough for us to save 30% , then saving generally will be quite difficult.

I don't really know but saving will actually depends on you because there are some people who does not see the need to save money for future, as a result they will be spending their money on things not necessarily.

There is no specific amount of money you can save and if your current saving rate is not enough , you should look for a better employment.

 

[Shigobad2020]

Saving part of your salary or the gain you made in your business depends on how much you are earning and the responsibility you are taking care of at home , work , for your families and even among your friends , so you must put all that into consideration before you started saving or else you will keep withdrawing the savings and you won't have anything left .

In my own opinion , before I started saving successfully , back then i normally go back to my saving to take what I need because there's no proper plan for the saving , but now I normally listed what I needed and how much I can use throughout the month before getting another salary .
So I came into conclusion and i split my salary into three, 40% is for the home responsibilities like buying foodstuffs and paying of bills , 30% is for extra spending like transport fare , upkeep and for unforseen circumstances spending and i saves the remaining 30% and it has been a success since then.

 

[Oluwasegun purpose]

This is a Good question which have a lot answer.. as for me I will say that there is no amount of money that enough for one to save, they are some people who are Rich and okay in life they have enough to spend and to take of them and their family..as a salary earned I will advise you if you don't have the habit of saving because it helps a lots in one's life... if you are asking why do you need to save that you are collecting your salary every end of the month am telling you that you are gradually going into poverty. As a salary earned and you collect your salary either monthly, weekly or daily I will advise you that no matter how small your salary May be you should be saving at least 10 to 15% of your salary, and later you are going to see how it will help you in a very long Way..... So there is no amount of money that is enough to save...

 

[Heartstrings]

It depends solely on every individual and how much you earn, saving solely means what you can afford to save at that particular time,or better still make it a budget and save 20-10 percent of your income, that is if you have no much bills to pay at that particular time. Saving is very important and to think that some people don't know the value of saving is quite amazing, some people make much money from their business or have a good paying job but yet don't know the importance of saving,some people who makes much more money may just save 5 percentage of their income and use the remaining one to flex around which is very bad.. save whatever you can in a considerate way because we never can tell what lays ahead.

No matter how little your income is,save the little you can if it happens that you have much expenses and bills to take care of, because it helps in a long run,never made a mistake of not saving,even if it's 20%

 

[Rubz]

The question of "how much to save" can only be answered by an individual. How much one is able to save is dependent on many factors like, how much one earns from working, how much one spends on things, one's lifestyle ( if it is an extravagant or an average lifestyle ). No matter how much or little one earns, or how extravagant or average one's lifestyle is, one should try to save at least ten to twenty percent of one's earning. One can save much more than that of possible. It is important for one to save as much as one can because it is that savings that will help one out in the future or in the case of unforeseen financial circumstances.

 

[receivesmsonline]

I think the money we need to save will never be enough, because people's desires are unlimited.