How important is saving money to become rich?

[mcjerry]

for some one that knows what he is doing and wants to be rich. It is best thing that he save some money from what he earn to start up a business. Because if we say that what we earn is too small there will be no time that we will save to become rich

 

[Adam13]

Real Riches doesn't come from savings. Although you can save up to invest in a business that is sure to bring Riches. Savings help you gather enough capital to start up a business that's the most relevance to have. Let's say it is a starting point towards attaining and fulfilling your financial dream.

 

[Filicit]

Saving is important in getting rich but savings does not make you such, its pulling from your savings to invest is what makes one rich

 

[Ezekiel]

Saving money is very essential in live,to make some thing out of nothing one need to save some percentage of income so as to be able to use the money to improve the intial business,and money saving guarantee children's financial welfare

 

[Heatman]

If you're just saving money it's very important that you understand that you also keep on having expenses that is going to take up all the money that you are saving which begs the question that you should have something stable do in as a steady source of income.

 

[GIFTMICHAEL]

Saving alone can't make one rich. Such person needs to save wisely to a reasonable amount of money and use it for proper investment.

 

[Skysaint]

In my honest opinion, Saving money in other to get rich is not really advisable to anyone, I think putting your money to work through investment is a better option for this purpose.

 

[adazeez1995]

Saving money plays a quite significant role towards attaining financial freedom. Money saving provides us with capital yo start a business if that is what we have in mind. It also provides ample capital forprogitable investment. Opportunities come up from time to time and the right one might just come up when we least expect it. When you save you wouldn't let it pass you by.

 

[Good-Person]

I have only realized the importance of saving money now. Right now I am having a hard time earning money and this is why I am doing my best to save as much money as possible to start my own business in the future.

 

[Ruth]

In as much as saving is important, what matters is what you do with the money you safe. Do you buy liabilities or do you buy assets? Do become rich it depends on what you spend your savings on.

 

[Skysaint]

In as much as saving is important, what matters is what you do with the money you safe. Do you buy liabilities or do you buy assets? Do become rich it depends on what you spend your savings on.

Laughs. Someone who uses his or her savings to buy a liability don't really have plans for the future. Reinvesting back your savings a lucrative business with a promising future is a good move in the right direction

 

[tyrim88]

There are different sources of saving money, to become rich it's good you invest in a business while you save from your profits as well, this will make the road to riches faster.

This is what a good investor that knows how money works usually operate.He first invest his money in a profitable venture that will be bringing out returns to him,and then the profit he keeps and accumulate it to a substantial amount ,then invest in another venture.

 

[Snazzy001]

If you really want to become rich, then you have to cultivate the habit of saving money but at the same time cultivate the habit of investing, they work together

 

[eLdavis]

If you really want to become rich, then you have to cultivate the habit of saving money but at the same time cultivate the habit of investing, they work together

Very true, though saving is good and it is recommended for every person to have some savings as it is your preparation for the unknown but no matter how much you save, it cannot make your rich. What would make you rich is your investment.

 

[Pousinha]

In my former country, lot of people learn to save: the aim is to avoid to pass through financial difficulties in such cases like job loss, sickness, unemployment or low salary. Even if it's unrealistic to become rich, saving money surely helps to not become heavily poor. If serious sicknesses, job loss or unemployment don't occur, saving money may help to become wealthy.

 

[Kingmarvex]

Y

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

ou don't save money to become rich but rather invest to become rich, the value of money is on goods or services not as island. If truly you want to become rich invest your savings rather than watch

 

[Riciakenosha]

Well in my opinion saving money would only be in co-relation with riches in terms of discipline when it comes to spending money rich people don't save money the spend as investment

 

[Kelly5]

Saving money to become rich is something that possible tondo and also achieve by all that are willing and ready to take that bold step and courage. We all have expenses to settle no doubt, but try to still make that little savings

 

[King Gentle]

Saving is extremely important when it comes making wealth. It's not just about saving, it's about what you eventually do with the savings. Do you buy assets or do you buy liabilities?

 

[Favouredgirl]

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

You can't be rich when you are extravagant because am extravagant person spends his money on virtually anything he sets his eyes on, the more you spend the less money you get. Most people have the money and think they can spend as they like but the truth is that as you spend extravagantly there's a level of richness that you might not rich so saving and spending money only on things that are necessary Will be helpful to you because you won't loose much. It's wisdom that after you must have saved lot of money you invest on a business you are very sure of and can handle to get more money and become rich.