What are the Basic Needs for Saving?

[Suba]

Saving activities not only train discipline and compliance with the budget that we have made but also we can appreciate the value of money and distinguish between needs and wants. Although everyone has different savings goals, basically we can group savings needs based on priorities such as:
1. Emergency fund savings
2. Health savings
3. Pension fund savings
4. Education fund savings
5. Maintenance cost savings (house, car etc.).

 

[Augusta]

I save money towards emergencies though I don't pray for them but they can be money gulping

 

[Springtime]

Saving activities not only train discipline and compliance with the budget that we have made but also we can appreciate the value of money and distinguish between needs and wants. Although everyone has different savings goals, basically we can group savings needs based on priorities such as:
1. Emergency fund savings
2. Health savings
3. Pension fund savings
4. Education fund savings
5. Maintenance cost savings (house, car etc.).

You have mentioned all the reasons why we have to save. In addition to that, since I love traveling, I also save for traveling.

 

[eLdavis]

For me i usually save for emergency use, then I also have savings for when I want to buy something in particular or for unexpected expenses.

 

[Nomad]

The basic way to save is to cut your expenses. You can cut expenses by not buying things that you were trying to buy.

 

[Min George]

Education funds savings is the one that bothers and concerns me now. I prefer education savings than education loans.

 

[magnus2022]

The basic way to save is to cut your expenses. You can cut expenses by not buying things that you were trying to buy.

Some expense is unavoidable. No matter how you try to avoid it, it still resurfaces. Food expenditure is everyone's nightmare!

 

[Stardom22]

Personally l would like to save money to set up my dream house and business that is all l can say.