Reason why you have to save money

[samual]

there are a lot of reasons why people save money, some people save money in order to invest in a business In other to make money more than the money you used to invest more.
You have to save money for future propose, cause saving is a must you can keep your money for future propose by buying properties, buying land ,juries and so on
You can save money for a business, for example. You already save some money and you have the idea of starting a business the money you kept will now be useful for the business you want to start

 

[Ayuba Ernest]

Many people find it difficult to save money, and this is understandable. However, there are numerous reasons why you should hold onto your money.

One reason is that you never know when you might find yourself in need of it. It is possible that you will lose your job, incur an unexpected medical bill, or experience some other type of emergency. Your ability to cover those expenses without going into debt is dependent on your level of savings.

Another reason to save money is to ensure that you can live comfortably in your retirement. If you don't put money aside for retirement, you may find yourself working until you are 80 years old or older.

Another reason to save money is so that you can put it to good use later on. When you save money, you are essentially making an investment in your own well being. In this case, you are making a financial commitment that will pay off in the future.

Finally, saving money is a good way to keep yourself out of financial trouble. If you have a lot of debt, it can be difficult to save money, which can lead to you using up all of your available funds. Saving money is a good way to stay out of debt and rely on one's own resources.

 

[Richee84]

Saving should be part of our culture cause there so many reasons why is so important to have savings. Saving at times have to involved determination and self discipline, it is not always very easy to save money as there is always need for money everyday. People make sacrificers while making savings now with the hope that the savings will bring something more tangible in future for them. We save for various reasons and some of the reasons are listed bellow.
Saving for unforeseen circumstances; In life we can not predict what will happen tomorrow that we might be in need of money for, so people make savings to solve issues of unforeseen circumstances that might arise in future which is beyond their control. Rather than looking for where to borrow money from they just fall back on what they have save and make use of the savings.
For investment purpose; another very good reason why most people make saving is for investment purpose. If there is a plan on ground to invest in a business and the money for the business is not yet available, we can make saving from our little earning towards the investment rather than to borrow from credit facility.

 

[Abigael]

There are so many reasons indeed as to why people have to save money. One of the best ones being that it is the best way to have emergency funds for any situations that may emerge without your wanting. So when an accident or emergency happens, you will be able to have finances for such situations.

For other people, saving is something intentional that will earn them money to buy something that they need. You may think of something you want in future then start saving for it from now. This is so much more effective than when you take loans to buy those things that you desire.

People also save to start businesses and that is such a great thing. It prevents you from going through the agony of running businesses on loans. You won't go through the pressure of having to pay them back. Moreover, you get a good time to break even and start enjoying profits.

For so many other people, they prefer investing their money instead of saving it. Which is also so great because you will yield profits and increase your income. Personally, I would prefer to invest my money instead of just saving it in a bank.

 

[btaliat]

Saving is one of the habits that we need to cultivate. Most time, it is because of the future and not necessarily the present but most time, the future may be near. Primarily, there are three reasons why people should save according to the economist, they are the following:

We can save money for speculative reason. What does it mean? It means there are some things that we wish to acquire in the future. We can save money with the hope of using it to buy some stuffs in the future. And the word connotes, it may mean we wish to acquire some stuffs in the future.

Precautionary motive is also one of the reasons why we save. We need to learn how to save to prevent some situations from happening. There are moments that we may find ourselves unknowingly meaning it may require urgent attention to fight against such a situation. If we don't have much when the incident happens, it may really affect.

And we can also save money for investment sake. Most people do save for this reason. There are some investments that may require much from us. And to really fight against this, we need to save for this motive.

 

[Shigobad2020]

We have different reasons why people save money , taking for example , people save money just to start a business if they dont have people that will help establish them and they also dont want to take a loan knowing the negative impacts of a loan in a business , so they start saving for as long as possible until they reaches their target .

Secondly another reason why people save money pay their bills , my house rent is 150,000 Nigerian money and i am earning #20,000 , so i have to be saving at least 10,000 monthly in order to meet the target at the end of the year
And to some people , they prefer saving intentionally in case of unforseen circumstances that might arises , like paying their children school fees , paying electricty bills and using the money to buy clothes and Food stuffs during the festive season.

 

[Oluwasegun purpose]

there are various reasons why we save money . we save money for the purpose of emergency and for investment...there are still many ways why we save firstly like paying of children school fees ,there may be time when we may need money to pay up our children school fees when we will not have that money at that particular to pay up but if we have some savings in your account ar any were ypu are saving money it will not be difficult for you to pay that school fees .....

Let even talk about saving becaue business at least one cant be working under someone for long you will atleast saving some money to start up a business of your own ,because there may be time you can be sack out of your working place ,so if you are now sack what are you to now do maybe running about beging for money or what ...

So i will advice you to at least save 10% of your income every month and see the profit in the end of the year....

 

[LoukiaCharilaou]

Nice topic indeed. It is true that money is essential in life. You cannot survive without money. You need money to cover your daily needs and your family's needs. Furthermore, money offers financial freedom. If you have money, you can make dreams and plans for the future. You can go to the best universities in the world if you are interested in studying and buy whatever you need for your yourself, your family and friends. Maybe, you can invest some money in real estate. There are so many things you can do if you have money.

For all these reasons stated above, it is important to save money and not spend it carelessly on things you do not really need. Life is so unpredictable, especially these days, so it is wise to save some money every month. In this way, you will feel financially secure and ready to face up every economic problem that may arise.