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Why Do You Save Money?
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[QUOTE="Richee84, post: 241951, member: 42448"] There are different reasons or motives for saving money, bellow are some of the common reason why we save money. [I]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.[/I] [/QUOTE]
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