Although I have several bank savings accounts, it is not intended to save but only as a transaction medium, because the bank only gives very small interest, so it is better to allocate it to investment instruments.
I like saving money and I think it is essential. I save for emergency use. I also save for travel, buying big ticket items, and retirement. Other than saving money, I make investment to grow my wealth.
The feeling is secured once having a saving compared to without there is always a feeling of uncertainty especially during crucial time when money is a must to produce.
When I was young and had very less money I tried to save money so that I could leave my job, now I have many online expenses so I am making a loss this year.
In my opinion, the function of a bank account is only to collect short-term money after reaching the amount we want, it will be immediately allocated to more profitable instruments, keeping large amounts of money in the bank for the long term will be detrimental because the value of money will be eroded by inflation.
At first I didnt understand the imporatnce of saving so I never really entertained the idea. After I learned the importace i started liking imthe idea, now I can't go a month without saving a percentage of my earnings. It's helps especially in situations where you have run into a situation that requires money to sort out.
I am not saving money but ideally we all should, we need to save a fixed percentage or at least a fixed amount from our monthly or weekly earnings and if we can invest then its even better.
I am saving the sales of my business and 20% of my salary. I do not like to send useless stuff, only what is essential at home and for my personal needs. Money is not easy to produce.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.