Why saving and investment is necessary

[Kidi]

Saving and investing are both important because they help individuals achieve their financial goals and build wealth over time.

Saving give people a chance to keep aside money for unexpected expenses. Through saving people can plan a financial cushion that can help cover emergency, such as car repair, job loss, house rent and medical bills. Saving also help people in terms of achieve financial goals, such as retirement planning, buying house and paying of school fees.

Investment, in other view involved putting money into assets that have the potential to grow in value over a period of time. Investment give people a chance to earn in return on their savings that outpace inflation, which can help build wealth over a time.

Achieve financial goals: Whether you want to buy a home, pay for your children's education, or retire comfortably, saving and investing can help you achieve these goals. By setting aside money regularly and investing it wisely, you can build the wealth you need to achieve your long term financial goals.

Create passive income: Investing in assets such as dividend paying stocks, bonds, or rental properties can provide a source of passive income. Passive income can help you generate income without actively working, which can help you achieve financial freedom.

Prepare for emergencies: Saving can help you prepare for emergencies, such as job loss, medical expenses, or unexpected car repairs. By having an emergency fund, you can avoid going into debt or having to sell assets to cover unexpected expenses.

Both saving and investing require discipline and a long-term perspective. By setting aside a portion of their income and investing it wisely, individuals can build financial security and achieve their long-term financial goals.

In summary, saving and investing are necessary because they can help you achieve your financial goals, protect your savings from inflation, create passive income, prepare for emergencies, and enjoy retirement.

 

[moonchild]

Saving It's not about being a miser or a penny-pincher at all as many people see it, it's about building wealth in the future. and the best part? You don't have to sacrifice your quality of life to do it, you can start saving with as little as you can from your income.

And on investing, think about it like this, every dollar you save and invest is like planting a seed that will grow into a money tree. and the sooner you start planting those seeds, the bigger your tree will grow. it might take some time, but trust me, it's worth it.

 

[Chibson1]

Anybody who is very much interested in achieving financial freedom must prioritise savings and Investment. The importance of saving and also having investment cannot be underestimated because they are the best ways in which you can use to achieve financial freedom and independence.

People who do not have savings and they do not have investment always end up not being unsuccessful in life.

There are also many of them will end up regretting why they didn't invest and save a lot of money and their younger age.

That is why it is important and necessary to prioritise them at a very young age so that you can be successful on the long run.