Saving Money Do You Prefer Saving Money Or Spending When You Have A Lots Of Money?

[Good-Guy]

Well, I am sure that there are many people who focus a lot on saving money and they usually do this when they believe that they need to save money for future uses of money. They also think that they would need money to invest money into some sort of business and this is why they make many budget plans in order to minimize their expenditure. However, there are many people who actually do not think a lot about spending money and they usually prefer to spend money rather than saving it. Such kind of people are usually very rich people who do not need to worry about saving money. So, what kind of a person are you? Do You or would you Prefer Saving Money Or Spending When You Have A Lots Of Money?

 

[kayode10]

I make use of financial literacy to guide me in most of the thing is I am doing concerning money. I will always prefer saving a portion of my income for future use. I do my best to know the total expenses. Then I am going to compare this together with my income to know if I have deficit. The next thing is to increase my multiple source of income to make money for myself. So I will be able to spend more.

 

[kayode10]

I am a kind of person who like to save my money. I don't buy things on impulse. I tried to know the price of the things that I want to buy then I will plan my way in accordance. I took financial Management serious. This is the reason why I make investments my top priority. So I prefer to invest and make more money. I will buy things on anytime I want once I achieve financial freedom.

 

[btaliat]

Money is meant to be saved when we have excess. This is to save us from getting broke. Most time, people do spend money as they earn it without even thinking about the repercussions of their actions. Though saving is not a really good option if there is investment opportunity we can do.

 

[Dupie]

If I have alot of money I will surely save so I can invest and make more money.

 

[kayode10]

I will always go for savings anytime any day. The reason is that you can't have money all the time with you. When you are broke you can simply turn back into the money you save in the previous time. Some people safe to consume and this is not good enough. The best thing you can do with your savings is to invest to make more money. Over time you will have more than enough to buy anything at any point in time.

 

[Naz]

Well, I am sure that there are many people who focus a lot on saving money and they usually do this when they believe that they need to save money for future uses of money. They also think that they would need money to invest money into some sort of business and this is why they make many budget plans in order to minimize their expenditure. However, there are many people who actually do not think a lot about spending money and they usually prefer to spend money rather than saving it. Such kind of people are usually very rich people who do not need to worry about saving money. So, what kind of a person are you? Do You or would you Prefer Saving Money Or Spending When You Have A Lots Of Money?

I like to spend money in good deeds like helping poor people by providing them basic needs of life.
But of course I Iike to save some money for bad time because all of us know that bad time never tell people that it is coming.And we should save money beside with spending money.

 

[kayode10]

I take financial literacy serious and I try to apply everything I learn about money into my personal lives. One of the things I learnt is that saving is the starting point of all the riches. When you have more than enough in savings, the next thing is to invest the saving to make more money. You can now buy things on on whim without things about the cost.

 

[AfriPeeps Official]

I prefer doing both, when I have money, I spend some, I invest some and I save some. I believe this life is simple and whatever you want is the only thing that belongs to you, even if death eventually comes, what you have eaten can never be taken away from you.

 

[Deleted member 28127]

For investors saving money is a loss because if they do not invest this money then the X amount of money of returns is lost by the company by the way it differentiates a little for individuals just because individuals don't have this culture they just get paid and spend money in various expenses so it varies from one to another.

 

[Dupie]

The main idea for saving and investing for me is to set up multiple financial streams of income. When that is in place then you can spend as much as you want and also contribute your quota by providing for those that don't have. It's all about proper planning and structuring. One does not invest carelessly, you have to be really smart about what you want to invest in by carrying out good research to find out what exactly people are investing in that's making them alot of money in returns.

 

[Abigael]

When I have a lot of money, I prefer saving it through investment for future use. I know I would be tempted to spend most of it. But so far, I have gained so much self discipline and so I can prevent myself from spending money carelessly. Investment is better because it helps you save the money and gives you more for the future.

 

[JenStaJo]

Well, I am sure that there are many people who focus a lot on saving money and they usually do this when they believe that they need to save money for future uses of money. They also think that they would need money to invest money into some sort of business and this is why they make many budget plans in order to minimize their expenditure. However, there are many people who actually do not think a lot about spending money and they usually prefer to spend money rather than saving it. Such kind of people are usually very rich people who do not need to worry about saving money. So, what kind of a person are you? Do You or would you Prefer Saving Money Or Spending When You Have A Lots Of Money?

To save or invest ?

 

[JenStaJo]

I prefer doing both, when I have money, I spend some, I invest some and I save some. I believe this life is simple and whatever you want is the only thing that belongs to you, even if death eventually comes, what you have eaten can never be taken away from you.

I feel like money is meant to be spent, burnt, eaten, given away, or whatever you so choose. You earned it, you reap it.

 

[JenStaJo]

I am a kind of person who like to save my money. I don't buy things on impulse. I tried to know the price of the things that I want to buy then I will plan my way in accordance. I took financial Management serious. This is the reason why I make investments my top priority. So I prefer to invest and make more money. I will buy things on anytime I want once I achieve financial freedom.

Do you save for a specific thing or do you hold on to it (save it) just a little longer for the next big thing?

 

[Rachael]

When I am in the position where I have lots of money, I balance the equation evenly by saving part of it and spending part of it on my necessities. I take savings as being very paramount in my daily affairs and I feel so satisfied each time I make a commitment with my savings. I think savings should be adopted even when you have so much money at hand because tomorrow is unpredictable and the savings would always be a source of rescue. There is virtually nothing in this present age where money is not needed. If the money I have at my disposal is enough for investment, then I rather spend it investing in something that will yield dividends.

 

[Alexandoy]

I think this topic is very applicable to me because I have lots of money in the bank. In my estimate I could live for 30 years with the present budget so I do not really need to invest the money at all. However, for purposes of inflation I am also looking at some investment programs. I received the big money last month only and it was really huge that I was somehow overwhelmed. It's a good thing that we are in the pandemic era and travel is deterred so I cannot think of a way to spend money. Yeah, I am still living a simple life with the simple food and the basic expenses at home. I have 1 car now because the car of my wife has no use to me so I gave it to my wife's nephew. That is lesser expense for me.

To be honest, I want to spend money but I remain frugal and I am still very conscious with the prices of goods. When I think the price is exorbitant then I don't buy it. I know that I should be caring for my money and I should be careful in spending especially for things that are not essential.

 

[Kingsley]

Honestly I prefer investing to saving, because I always apply the principle of time value of money to my cash policies. I believe whatever amount of money I fail to invest today will most likely decrease in value if leapt mostly in the currency of my country that is always depreciating against the dollars. Hence if one is in a country like mine it is not always the best to save your money in our currency is it a no no, it is better to save as USD or get USDT. But If you are someone who like to trade crypto currency then you can aswel get a very good coin that is relatively stable in nature..

Their rate at which inflation has cripple our economy is so alarming so keeping or saving money in a country like ours is nothing but a very risky venture. Infact you will later realise that what your money could buy today, it won't be able to buy the following week to come. As the rate of inflation is on a constant upward trend. So I always invest my cash no matter how little it may be as long as I have taken out consumption from it the rest goes to investment.

 

[Kendy]

When it comes to the way of utilizing money, people have different preferences and the best you could do is suggest to them and if they choose to heed to your suggestions then it is still a good idea. When I have excess money in me, the first thing that comes into my mind is to save it immediately to avoid reckless spending. There are sometimes, because of the excess money we have at hand, we tend to purchase things that are not needed and will solve no problem for us presently, rather than purchase such items, it is better to save it or invest it so that it can yield multiple in due time. The act of saving money should be encouraged and reckless spending should be reduced. One of the reason some individuals do not have any other alternative than borrow huge sums from the banks or through online apps not minding the interest rates attached is due to the act of reckless spending and also the inability to save money when they had enough. Those who cannot save money, would find it difficult to use any loan money gotten in a wide way, this is because they would always look for excuses to justify their inability to be productive!

 

[Yhubee]

Even when I have lots of money, I would still save up because rainy days will always come.
I am not very good at saving enough but I have learnt not to spend money unnecessarily. No matter how much money I have, I will always draw up a list of my wants and select my needs from them.
Saving money comes with a lot of discipline because there are times you might feel like spending money just because you feel you have enough..Discipline will therefore help you to save up and manage your resources together with your effective plan.
I have stayed with people who at the time had enough money in their possession but chose to spend their money on too expensive clothes ,bags and shoes just to join the trend.I was almost influenced to do same but I was glad I didn't. In the end they exhausted their money and came to me to lend them mine.
Well, I refused because I had no idea when they would pay back and I was still in the process of managing my own resources. So when spending money, we should think of the future, what happens tomorrow or next? Some people say the future will take care of itself which is a very funny statement.
Why not take care of the future from today?