Benefits of Saving your money

[Axcel777]

Saving money is actually beneficial in many ways but the thing is that inflation has toy with the local currency that if you have save naira to buy something from January, you will be looking for another extra money to add to it right now because things are now expensive due to inflation, there is general rise in price of goods and services.

If you want to save, do it in Naira but make sure that it's money you will use in 2-3 months, if you want to really save money, it's better you put it in an investment, the one that is not that risky so you don't have to cry later.

This means that when inflation is ever present to even further chip away at our purchasing power, we need to be far more conscious about how we handle our savings. While it is practical to have cash saved up for immediate uses, it is similarly effective to invest cash in low risk yields for the long haul. Consequently, it’s possible to preserve value for money and unleash financial potential as well. It does this so as to counter the effects of inflation, yet keep an eye on the current and the future.

[Didia Sofunichi]

The fact is that we all understand the importance of saving but it's unfortunate that the income of majority of Nigerians can hardly cater for them all through the month. I think the unanswered question question is, can a hungry man save?

[Penlex_Writer]

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 😁

we save for the future ahead unseen,normal in life emergency comes unplanned,but still when saving we should as well invest also,because savings brings no benefits or income,but when you invest you make more more in returns.

[Penlex_Writer]

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 😁

savings is very necessary,savings is all about preparing your future ahead,life is unplanned,when emergency came up you can afford it.

[Chilwell]

savings is very necessary,savings is all about preparing your future ahead,life is unplanned,when emergency came up you can afford it.

Honestly, having the habit of savings is a wise idea and forward and impressive thinking, because it can have a profoundly positive impact on your life. By making savings your priority you can ensure a brighter, and more secure future for yourself and your loved ones. Because by prioriting savings you are investing in your future well being and financial stability and security. Savings enables you to prepare for the uncertainties of life, which can be inherently unpredictable and prone to unexpected twists and turns. Sometimes life can be complicated and emergencies can arise at any moment, often without warning. It is during these trying times that savings prove to be a valuable lifeline, providing you with the necessary financial resources to navigate the challenges that come your way. It is very important for us to save for future use and beneficiary.