So after struggling to save your money, what else do you plan to spend the savings on . For me l would prefer investing all of my savings for the purpose of growing wealth. What do you have to say about this?
The best way for spending your savings.
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It's a great idea because money generates money, there are several ways to do this, whether investing in shares or in physical products that can generate income every month.
In theory, people should have a plan for what they are saving money for, whether for investments, retirement funds, buying a new car, or wedding expenses, etc. So that the savings target that must be collected has been planned beforehand.
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I will not spend my savings on something not significant. If possible, I have to save more and invest more. I dislike the idea of others keeping on shopping from their accumulated savings, they are very wrong.
When young it is better to save money, since there are more opportunities available. After the age of 50 it is very difficult for some people to get paid work and then the savings will be spend for paying for daily expenses.
If so, it means that you have planned to save money for old age or retirement, so you also have a target amount of savings that must be collected and applied or adjusted to your income every month and you will also know how long it will take.
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The best easy way for spending your saving all depends on you. There are individual differences and each of us have our route where to spend the money in such a way that it yields a compounding interest and not to dive to zero saving because of uncontrolled spending.
I thought that every saving has a goal. Some save to get a house while others save to buy a car. You end up spending your savings according to the purpose of the savings.
it is good to invest because you make your savings work for you if you only save then you lose money every now and then because of economy
eLdavis
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For me I don't think there is a best way for saving though. Before you start saving, am sure you had a target. It's left for you to just spend your savings on what made you save in the first place.
"The best way to spend your savings is to invest in real estate, such as purchasing a house or an apartment. Personally, I bought an apartment and enjoyed consistent rental income for many years. When I sold it, I made double the profit from my initial investment.
