Most people really don't have idea on how to spend their savings. This is because savings is a very important asset that should no be spent anyhowly. Care must be taken when handling the savings and they are supposed to be spent so wisely.
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- Fords8
What do you think is the proper use for the savings
- Thread starter Xtynehappy
- Start date
The reverse principle is that we should determine our goals first before saving, so that it will be easy for us to determine the time period, whether saving is for the short term or long term. If you save without a purpose, it means you don't have a plan and your savings will be ineffective and undirected.
That's very right. Indeed savings must be accompanied by the purpose or goal. However others may spend the savings before the goal is fulfilled unwillingly because of the situations in life like the occurance of an emergency.
eLdavis
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For me I always have a reason why I save. Most times it's to buy something in particular or for a project. When I have been able to save enough, I usually spend my savings on that.
I think that a person will not start saving if he does not have a goal for what he is doing. For example, I know that I want to invest money in order to earn more, so I need to save part of the earnings
No one can tell anyone how to use his or her savings. Before you embark to start saving, you must have a goal and a project you are saving for.
Savings should be for investment. I don't think it is good to spend on careless things. Just invest where you can make the most money
You need to have a goal for savings. You may save for retirement, for emergency fund, for buying an expensive item or even for traveling.
