raaman
Valued Contributor
Why should you save money?
If you can save for what you need, in the long run, you will be in a much better financial situation. You will pay less for everything you purchase as a result, and your situation will be less stressful. But keep in mind that some borrowers simply don't care if they have debt as long as they can repay it.
When a job is lost or a health problem arises, and there is not enough money in the bank account to cover the bills, a financial crisis occurs. When creating their financial plan, someone who has effectively set up their finances can easily account for these kinds of situations.
Therefore, it makes sense to save money. You become indebted when you borrow money to buy the goods you want or need, it indicates that you owe money to another person. All the money must eventually be repaid, along with interest. If you owe money to creditors, there is no use hiding your head in the sand.
It is because the obligation will remain until the amount borrowed is paid off in full. No matter if the creditor is a friend, a relative, a bank, other lending institution, or any other entity. They all have the right to ask for the repayment of their money.
If you can save for what you need, in the long run, you will be in a much better financial situation. You will pay less for everything you purchase as a result, and your situation will be less stressful. But keep in mind that some borrowers simply don't care if they have debt as long as they can repay it.
When a job is lost or a health problem arises, and there is not enough money in the bank account to cover the bills, a financial crisis occurs. When creating their financial plan, someone who has effectively set up their finances can easily account for these kinds of situations.
Therefore, it makes sense to save money. You become indebted when you borrow money to buy the goods you want or need, it indicates that you owe money to another person. All the money must eventually be repaid, along with interest. If you owe money to creditors, there is no use hiding your head in the sand.
It is because the obligation will remain until the amount borrowed is paid off in full. No matter if the creditor is a friend, a relative, a bank, other lending institution, or any other entity. They all have the right to ask for the repayment of their money.