What is the purpose of your savings?

[Imkevin21]

As you mentioned, I also save up money for the purpose of travelling which I usually do before the COVID or pandemic hits. For now, aside for travelling, the purpose of my savings are for emergency and future expenditures. Such as buying land, building a house for family and my future family, car and lot more. No one knows what tomorrow might bring, so saving up will help up ease temporary difficulties.

 

[Nicklas22]

First and foremost,saving money is important because it helps protect you in the event of a financial emergency. Additionally,saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom.

 

[Emma Aneni]

We save money for a lot of things especially things we're yet to see in the future. We save money so that we can stand strong in any situation, in the human life money is something that is very important and will come handy someday definitely.

 

[btaliat]

There are many reasons why we save. While some save for future investments, other save for preventing unwarranted situations. But personally. I save to start my dream business. By His grace, I should start it by this year June.

 

[Heatman]

If you are saving money then what is the intention to spend the money on? When I was younger we save money for purposes of travel. Having a vacation is one luxury that we desired. But now our savings are in the bank which we intend to use for buying a lot that later on we can build an apartment. In your case do you have a long term plan for your savings of just a short term like our travel plans before?

Personally, the job of seeing myself being financially successful is one the goals I set for myself a very long time ago. It's only through saving and increasing my investments that I would be able to achieve such objectives. Saving is really good because if you can't save, you will eventually become broke.

 

[Blue house]

Well my purpose of savings is for future use, unforseen circumstances, or if I have something urgent to do like have a a fees to pay but I can't pay it willingly out of my salary, then I have to save up for it

 

[Chief]

The purpose of saving money is that It allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen. And, if you have savings set aside for discretionary expenses, you may be able to take risks or try new things.

 

[Rimsha kanwal]

If you are saving money then what is the intention to spend the money on? When I was younger we save money for purposes of travel. Having a vacation is one luxury that we desired. But now our savings are in the bank which we intend to use for buying a lot that later on we can build an apartment. In your case do you have a long term plan for your savings of just a short term like our travel plans before?

The importance of saving money is rarely disputed. Saving is one of the most basic (and most repeated) bits of financial advice out there. Despite the importance of saving money, many of us aren’t following through on that tip. When it comes to doing the right thing financially, just knowing you should save isn’t enough.

 

[Felixko]

To me my purpose of saving money is so great if am doing. Business or being a government worker I will make my mind to save some money with the intention of getting to extend or either start a business if am a government worker, also my purpose is to save it in terms of trouble like children school fees , house rents more to the point feeding .

 

[Junatj]

saving money is good for you future plan..but it's better save to life insurance because life insurance save your family at any cause,saving money in the bank is good but after 10 or 20 years your money interest is low unlike life insurance

 

[Erik4150]

I am saving money for a lot of things. First I'm saving money to pay my bills and meet my needs. I also saving money for investment purposes because I like to set up small scale businesses when I retire.

 

[Adeyoola7]

The importance of saving money is simple: It allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen. And, if you have savings set aside for discretionary expenses, you may be able to take risks or try new things

 

[Chumzy]

This is certainly not a yes or no question so one man's reason might differ from another. People save for various reason and one could be for safe keeping to assure future. Another could be for retirement purposes to ensure that their old age is well taken care of.

 

[afolabitope]

saving money is very good ideas. the purpose of saving money is because of emergency. for example during the pandemic that the government locked everywhere no body can going outside to make money againg except those that can save before the lockdown. saving money is very important to those who can passive tomorrow.

 

[Koldej]

There are lot of reasons and purpose while people save, some people save to build a home, some save to buy a car, some save for educational purpose and so on so definitely the reason why people save can be narrowed towards each individual , some people save for emergency purpose, but to generalise I think people save to meet a future need

 

[Seyesystem]

My savings is for project purposes and for emergency need of funds. Savings is a very good culture for every individual for me there is certain percentage of my monthly salary that I put into monthly savings. For me my savings is meant to solves some emergency issues that I can quickly use certain amount from my savings to solve the problems.

 

[Sarfraz Ali123]

Saving money is the useful for us in that time which we need at the time of difficulty. Main purpose is that it is not for myself it is my family support.....

 

[Adegbindin Abdullahi]

Saving money is important because it helps protect you in the event of a financial emergency. Additional, saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom

 

[Diamond07]

The purpose of saving is to set some money aside for unplanned expenses and also to make more money to run a business which will in turn fetch more money. You can also invest to make more money

 

[Kiwi]

Not all that we save is for ourselves rather to ensure it benefits a person or thing later on in your name. I want to save money for my future and for the time of emergency because we don't know when trouble will come . So we should save for that time.