Why people who always save always free from debt

[Oluwasegun purpose]

People who always used to save money, there are always save from debt because there have enough money to use for instead of borrowing money from Bank or people..to be saving part of our income helps a lot especially people with family,if you have family and you don't know how to save that means you are suffering from poverty..if you are looking for a way to save your money why not be saving into a bank account or a saving box. Saving in a bank is One of the safest place were you can keep your money and nothing will touch it , you can also save in a saving box, saving box is one of the oldest mean of saving money... people who are saving money most of them are always financially stable,they can never run go into debt... So as a salary earned why not try to be saving like 10% of your income.......

 

[Rubz]

You are absolutely right, i've never seen someone who is consistent in saving, run into debt. People who save are always preparing to overcome any financial issues that comes their way because they have money kept for that purpose. They can never be taken unaware by any financial problem. I don't know why most wealthy people believe that they can not run into debt and that saving is for the poor. It is a wrong belief. Saving is for everyone irrespective of their social and financial status. Saving is for both the rich and poor. Even wealthy people may go broke at some point and it's their savings that would help them out in such times.

 

[Abigael]

People who save money are rarely in debt for sure. This is because they have some money tucked away for the rainy days. Whenever an emergency strikes, they are ready to face it because they have enough emergency funds saved.

That way, they never borrow money to fund any emergencies they have. They just take from their savings. This just shows how much it is good to have SA savings account.

You can save in a bank, a mobile wallet or in a sacco. This saving should be done with utmost self discipline such that you never find yourself spending your savings carelessly.

Another thing that keeps savers from debt is their learned discipline of spending the money you earn. They work hard to earn enough for both expenses and saving and so they have decried loans and borrowing.

Being free of debt is so peaceful. You should strive for it by saving more and borrowing less.