Benefits of Saving your money

[Legion]

You are right. A man without savings is a man without back ups. There is an adage in my locality which is translated to mean that "it is only during emergency that you will know a man". This goes a long way to justify the importance of savings because it is only a man with savings that can overcome the emergency test. One of the measurements for financial stability is saving. A man who is financially stable is a man with savings.

That's right, therefore when you become a man you have to be smart in making money because men have a big responsibility, men have to be brave enough to take risks but have to stay on the good and right path.

[bisdak40]

1. We can save money today in our bank's and online wallets, which we can set long-term savings so that we can't take the money immediately for just any kind of emergency..

Saving money in the bank for me is a bad idea because it will only sit their with a little interest in a year at least here in our country.

On the other hand, saving money for future use is a good idea especially if there is a need for emergency use.

[DragonF]

Saving money is very good and important for living.
No matter how rich you are now, if you don't save today you will beg tomorrow; saving money is part of budget planning and if you don't plan today you will fail tomorrow.
So talking about the benefit of saving money:
*Saving money gives you financial independence.
*Saving money, have the capacity to reduce stress.
*Saving money, helps to limit debt.
*Saving money, helps at the time of emergency.
Let me drop but a few benefits of saving money.

You are right. A man without savings is a man without back ups. There is an adage in my locality which is translated to mean that "it is only during emergency that you will know a man". This goes a long way to justify the importance of savings because it is only a man with savings that can overcome the emergency test. One of the measurements for financial stability is saving. A man who is financially stable is a man with savings.

I can relate to this. Savings can save lives. I remember when my younger sis had an attack. When she was rushed to the hospital we were asked to make certain payments before treatment could commence and we did all thanks to my savings. Imagine looking for where to lend money at that critical time. Similarly, with your savings, you can be lucky to buy nice properties in distress sales.

[enwi]

1. We can save money today in our bank's and online wallets, which we can set long-term savings so that we can't take the money immediately for just any kind of emergency..

Saving money in the bank for me is a bad idea because it will only sit their with a little interest in a year at least here in our country.

On the other hand, saving money for future use is a good idea especially if there is a need for emergency use.

As you said, saving money in a bank is very bad, but when we want to use money in the world, we need a bank to withdraw the money we save, because so far there are not many things that we can buy with cryptocurrency, because of the use of cryptocurrency. is still very limited, so we have to combine the bank with the cryptocurrency wallet that we use.

[Rruchi man]

Fun fact!!  Na money wey you save today go save you tommorow 😁

E be like say this statement nor too make sense again because after you dun use all the money you save finish, na better broke you go broke. Na money wey you invest today go save you tomorrow because money invested go fit yield enough returns to solve many problems. Save money o, but nor save money blindly, after savings dun mature, try invest the money.

[MRY]

Fun fact!!  Na money wey you save today go save you tommorow 😁

E be like say this statement nor too make sense again because after you dun use all the money you save finish, na better broke you go broke. Na money wey you invest today go save you tomorrow because money invested go fit yield enough returns to solve many problems. Save money o, but nor save money blindly, after savings dun mature, try invest the money.

Exactly, in life we ​​have to be able to save money well because we don't know what our condition will be like in the future. When you have a lot of money from savings from working when you were young, you can enjoy old age in peace.

[DragonF]

Fun fact!!  Na money wey you save today go save you tommorow 😁

E be like say this statement nor too make sense again because after you dun use all the money you save finish, na better broke you go broke. Na money wey you invest today go save you tomorrow because money invested go fit yield enough returns to solve many problems. Save money o, but nor save money blindly, after savings dun mature, try invest the money.

Financial analysts always advise that people should invest money instead of saving it. The reason is that savings don't bring returns and in some cases very little. For investment, you can yield more returns and this is why investment is always preferable to savings. As you noted, sometimes an individual may be forced to use his savings but for investment especially a long term investment, the investor cannot touch his investment until maturation time.

[Agbe]

Saving is referred to as the amount of income not spent immediately on our  daily needs and wants.
It can also be said to be the money kept or set aside for future use...
In our current economy, our savings is very necessity because it will be beneficial to us with time.
We have long-term savings which we set aside for investment purposes and other things for beneficial purposes.
And we also have short- term savings which can be used for any emergency that may come up, because as humans there must be an emergency.

People may ask; how do we save money in our current economy ?

And there are numerous ways we can save money  which i will mention some vital points below:

1. We can save money today in our bank's and online wallets, which we can set long-term savings so that we can't take the money immediately for just any kind of emergency..

2. We can save money locally also in saving box and also save in group, locally called "Akawo" in most part of Nigeria..

3. We can also save our aserts in banks which will be in bulk, in this case we aim to save in bulk and it is a long-term process.


When we save, our goal is to get our money back on large scale, there are many benefits of saving which include;

1. It helps in emergency
2. It helps one to atain a big financial status.

Fun fact!!  Na money wey you save today go save you tommorow 😁

It's quite difficult to save money in this current economy considering the cost of living and all of that, money that people earn doesn't go a long way anymore, this doesn't mean that saving isn't important, if you know you can take care of yourself and still keep some money aside then you should do it instead of spending your resources lavishly. Sometimes savings might seem stressful and perhaps a waste of time but in the long run you are going to be grateful that you made that decision

[Legion]

Saving is referred to as the amount of income not spent immediately on our  daily needs and wants.
It can also be said to be the money kept or set aside for future use...
In our current economy, our savings is very necessity because it will be beneficial to us with time.
We have long-term savings which we set aside for investment purposes and other things for beneficial purposes.
And we also have short- term savings which can be used for any emergency that may come up, because as humans there must be an emergency.

People may ask; how do we save money in our current economy ?

And there are numerous ways we can save money  which i will mention some vital points below:

1. We can save money today in our bank's and online wallets, which we can set long-term savings so that we can't take the money immediately for just any kind of emergency..

2. We can save money locally also in saving box and also save in group, locally called "Akawo" in most part of Nigeria..

3. We can also save our aserts in banks which will be in bulk, in this case we aim to save in bulk and it is a long-term process.


When we save, our goal is to get our money back on large scale, there are many benefits of saving which include;

1. It helps in emergency
2. It helps one to atain a big financial status.

Fun fact!!  Na money wey you save today go save you tommorow 😁

It's quite difficult to save money in this current economy considering the cost of living and all of that, money that people earn doesn't go a long way anymore, this doesn't mean that saving isn't important, if you know you can take care of yourself and still keep some money aside then you should do it instead of spending your resources lavishly. Sometimes savings might seem stressful and perhaps a waste of time but in the long run you are going to be grateful that you made that decision

It is hard to save money especially now that the cost of living is increasing day by day. Though here again, let me insist on the fact that saving money is still a good strategy and a positive way of acting. It may sound sometimes challenging or not so beneficial always in the present but it feels financially secure to have some saving portion aside in future. It also diffuses risks since with right planning and right number of years of saving, one is economic for shocks and will be able to pursue his/her long term objectives.