Saving Money Why Do You Save Money?

[Sikapa]

I was with one elderly man who is about 60 years of age and he was advising me on how I can save money. This old man was so right. He started it way; how do you save money? You see we save money so that people will respect us in future. By saying this to me, I did not get it so he continued to explain it further to me

He then said human beings are not immortals and therefore we will all grow old one day. When I started life, I was not like this but now see my gray hair, that is how life is so just imagine if I did not save money for my future by now who do you think will respect me? That is why you have to save money at your youthful age so that when you grow old you won't be a burden on others and people will also respect you because you did not wasted your years

He continued by saying the little money that you will get try to save small amount from it and make sure that you will not touch that amount because no one knows tomorrow when troubles and issues will come. In fact o was so shocked for hearing this piece of advice.

 

[Abigael]

That is some very good advise from the old man about saving. Having money earns you so much respect from people. This is because money enables you to afford your needs and so you look decent. It also prevents you from relying on anyone and so you are not a liability to anyone.

That makes saving and spending money wisely to be very important. Now, there are so many reasons why people choose to save money. Some if them include;

1. Saving for a particular thing you want to buy - people have desires that they want. So they decide to save for it, which is so much better than taking a loan for your desires. So you can decide to save to buy a car, build a house or to buy some shoes and clothes.
2. Emergency fund saving - people know the importance of having money during emergencies. It prevents you from so much agony and having to take abrupt loans. So people save for such emergencies.
3. Insurance is also another form of saving. There are so many of them; health, property and life insurance among others. They come with so many benefits.
4. Saving for retirement and old age - this can come in form of pension but some people just specifically create an account for this. Which is so great because you won't depend on anyone when you are old and retired.

 

[Sotherefore]

One of the most important reason I am saving is not really to buy something I am very much interested , but I just save it for future purposes and I just save it for the unknown because those are the things I am afraid of . I don't just need a situation that I will be so stranded when I need money to sort out some Life issue or maybe to start up something that might really help me grow financially but I don't have money to do it .

For me , I believe it is better for me to save money planning for those unknown circumstances in the future than for me to be taken by a surprise because during this time that you are being taken by a surprise you may not likely have a way of making money to start up what you are interested immediately .

Apart from that , there are reason why so many people are saving their money, some are doing it because of medical reasons, some are saving money for schooling purposes and so on. At the end of the day we all have our own different way of saving money but saving is actually the best for everyone.

 

[btaliat]

Saving should be part of us for many reasons that are so inexhaustible. Saving should not even be done because we need respect of we want to get some stuffs for ourselves in the future but for the fact that we won't be living on whatever we see but whatever we want. Let me make myself clear. When we have money, we will eat, buy and do whatever we want and if not, we will be living on what we see. And how can we afford this if not if we save? That'smy number one reason for saving.

I have adopted many strategies to make sure I save as I am expected. It is not a gainsaying that saving is very difficult. It is not primarily because we are not disciplined but most times, it is because there are many other factors that always militate against saving. For instance, the salary may not even be enough to cater for our needs let alone saving from it. Emergency issue may come up from family and friends which we end up making us using from the money we have decided to save.

But all these should not stop is from saving if truly we want to.

 

[CALVINDOL]

Personally I save money because I know the benefits and also the importance of saving money . It is absolutely so sad to see that some people spend money in as much as they're supposed to save it and because of this they do not feel concerned about their future financial welfare rather they make money so as to spend it . Spending money is very interesting but that does not mean that we should spend all the money that we have accumulated or made in a particular day we must endeavour to develop the habit of saving money and also we must endeavour to save more money in as much as we spend . We will do our best to save money we are indeed convincing ourselves that we are very much alert and cautious of our future financial needs and wants that are totally uncalled and unforeseen .

To be able to develop the habit of saving money it is advised as an individual also develop the habit of budgeting . By budgeting what I mean is that we should perform a list of what we need and do not need any particular day and we must always make sure that what we have listed will be stick to and there is no father spending of money apart from what we had to spend recorded in the budget .

 

[Augusta]

Sure, this is just it we can not do as humans without saving money. I think saving is one of the principle of life for any humans that want to survive in a rainy day. You just have to know that saving that one had in years has always been ones back bone in the future.

The need to always save can't be overemphasized. infact, I can't just believe anyone that make money on and consume all within a specific with no savings it will a foolish thing to do. No matter the amount if income received monthly or yearly there should always be a percentage for saving. Saving us just like leaving money for your future. The truth is that no one knows what financial burden can come tomorrow as such keeping money so that one can meet such Future Is very important.

Having saving is also great as it will help you invest in your future. I can remember my dad buying a piece of land that we have our family house today because of being able to afford at that time money to buy a cheap land that the owner just needed money urgently for something. So he had this saving and he quickly bought the land.

 

[blessingc]

Savings is important if you have a good future plan. It is good to save because of emergencies, or plans of building up something good for your future.​

I have always believe in savings from the onset, I was brought up to know that savings saves alot of times in need. Save as much as you can to get started, and over time your fund will grow. If you are working to get out of debt, save what you can until you bring your emergency fund up to even just one month's worth of income.

If you are a tenant living in a house where you pay rent yearly then you have a very good reason why you should save money. You earn money every day, week or month and you pay your rent yearly, if you are a wise person who doesn't have another means of paying other than the money you earn, you will save to pay at the end of the year, so you don't get thrown out of the house.

Another reason you need to save is to avoid borrowing, to avoid debt there have to be a money, you can pick up anytime you really need help, instead of borrowing.​

 

[Oluwasegun purpose]

We save money for so many reasons and there are various ways to save money...
We save money because of emergency and for investment and for future... take this for instance when you are a government worker you can't no be working there all your life they must be a Time when you are going to retire... So no when you retire what and how are you going to survive so you must learn for to save because you can't not use your old age to be working but when you have some savings with you you can use it to start up a little business that you we be seeing some money from it

We save because of emergency like when you are call from home about the need of money urgently so where are you going to see the money but when you have some savings you can send out it to them...

People who are salary earner you must learn how to save part of your income at least 10% of your income....

 

[Richee84]

There are different reasons or motives for saving money, bellow are some of the common reason why we save money.
We save money for transaction motive, money is the only generally acceptable medium of exchange that we can use to engage in business transaction. Money can save for the use of future transaction. When we save money for transaction purpose it help to make the transaction go smoothly because there is savings on ground to carry out the transaction.
Money is been save for speculative motive, here people save money due to the speculation of what might likely happen later in the future, money is been save or kept to meet the speculative motive.
Money is been save for unforeseen circumstances that might happen on of a sudden. In life we face so many challenge that just happen without planning for it, some many things happen in our life that require urgent money, money can be save to meet and solve unforeseen circumstances issus that might come up just of sudden.
Money can be save for investment purposes, when we have an investment plan on ground and we have carry out the feasibility study to see that the project is a viable one, we can make savings towards the project in order to invest in it.

 

[Abubakar chado]

A primary need of saving money is the cause of we can make use of its letter in the future but I think we are also other reasons for saving money we save money for Investments

 

[sincerem]

Lots of things to save up for. I've been very careful enough when it comes to spending money. I believe in tomorrow is greater, and life continues, and their is no need eating up once. Saving some percentage of money you're earning from your gigs or business is necessary. No matter how the economic condition may be. We should squeeze some money out for future purposes, allows cut our needs according to our seize, and no need to go looking for what we can't handle, making us lacking savings nor investment. I save money for the following needs;

* I save money today to meet up with my dream investment which is 'real estate investments.

* I save in case of emergency needs

* Saving money to be financially free in the future and not remaining at a particular position for ages.

* Saving money too for insurance purposes, because my life, health, and property is of utmost priority to me, including the lives of my unborn and companion to be in the future. All this things needs plan in order for them to be fulfilled in the future. Without savings and wise investment at the earlier time, the dream will fade up like a thin air.

 

[moneyteam]

Savings are vital for financial security and peace of mind. They give me a buffer in case of unexpected expenses and help me reach my long term financial goals.

Saving also gives us flexibility when it comes to making major purchases, such as a home or a car. Having the cash on hand means that you can take advantage of opportunities when they come up, rather than being limited by our monthly budget.

 

[Bluejettravel 70]

That is some very good advise from the old man about saving. Having money earns you so much respect from people. This is because money enables you to afford your needs and so you look decent. It also prevents you from relying on anyone and so you are not a liability to anyone.

That makes saving and spending money wisely to be very important. Now, there are so many reasons why people choose to save money. Some if them include;

1. Saving for a particular thing you want to buy - people have desires that they want. So they decide to save for it, which is so much better than taking a loan for your desires. So you can decide to save to buy a car, build a house or to buy some shoes and clothes.
2. Emergency fund saving - people know the importance of having money during emergencies. It prevents you from so much agony and having to take abrupt loans. So people save for such emergencies.
3. Insurance is also another form of saving. There are so many of them; health, property and life insurance among others. They come with so many benefits.
4. Saving for retirement and old age - this can come in form of pension but some people just specifically create an account for this. Which is so great because you won't depend on anyone when you are old and retired.

If you heard about Dave Ramsi the finances guru you should read his book or watch his short radio recording on YouTube! Or read the book Reach dad Poor dad from Kiyosaki.