Saving Money Will saving money make one rich?

[Bookwormlux]

There are people who tend to save some money every month or depending on how their plan is with the hope that doing so continuously would enable them to have enough money in the future whenever they decide to use all the saved money. However, some finance experts think that this is not a good idea and they believe that it's much better for an info to invest their income in some profitable business instead of saving as it won't make them rich.

But if you consider some factors, investing is not an easy venture and is considered risky to some individual and this makes them to see savings as a much better alternative to investigate their money when they are not sure about making good returns in the long run.
So when you consider this factor, you may begin to think that saving is better.
However, some more explanations would still make you think otherwise and you would want to believe with those who see investment as a better option.

What do you think? Have you met people who saved their way to riches?

 

[funmi]

When we save money, we do it for raining days not really for us to become rich. Some people save money for so many reasons, some save money in order to finance some projects, while some save money for future emergency needs that may occur.
So my take in this is that, I don't believe saving money can get us rich.

 

[sincerem]

Saving alone can't make one rich in life, but it presents better option than squandering the money which could've been used for future emergency call for money. You can save money with the vision of having a profitable idea to invest in the money. Saving and investing money to more prominent investment into business can bring better ROI.

 

[btaliat]

Saving is not design to make someone rich. We have three reasons why we need saving. Among them is for investment reason. If one is saving with the sole aim of becoming rich, the person may be building castle in the air. But if it is for investment, the person can still make it through that.

 

[Alexandoy]

If you are earning so much that you can save more than half of your earnings then there is a possibility that you can get rich. In our finance subject in college the model income is one that you can save 20% which means you can only spend 80% of your income. A money that is saved somehow earns minimal interest in the bank. But the big benefit is the fact that you have money saved.

 

[Abigael]

Saving does not make one to be wealthy. It only saves you from spending all the money right now. What makes one to be wealthy is having several sources of income. That means even if you have a job, you still need some extra cash from maybe online work and from the investments you make.

 

[Setho]

When people decide to save money you do it for a future emergency or with a target in mind that they are going to use it for something. I do not think that there is any way that you can actually save your way out of poverty or save your way to riches.

 

[Mika]

saving regularly can make you financially secure but saving alone does not contribute to your richness. In order to become rich, your money needs to grow, when you save, money does not grow. You need to invest money so that it grows and you become rich. Investing is risky but it is the only way to become rich.