Is saving wise in this situation?

[cherry123]

Yeah it is always good to take an informed decision anytime you need to make a life changing activity. if saving the money will be helpful then it is good to go ahead with it

 

[eldavis]

I think the best option to do is to do both. If you decide to save alone, its more like you keeping your money to spend later on. While investing is good, but what happens if the investment does not goes as plan or how do you survive until the investment pays off? It would be wise to invest and save.

 

[cherry123]

investing as always been the best bet when it comes to spare money if anyone has any spare. money two things are involved you either save it or just Invesf it

 

[Knowledge Quest]

It all depends on how much you're making. If you earn alot, consider saving for future purposes

 

[uptrendfinancialsignal]

Savings is a very wise decision to take so that you can use it for investment.

 

[Bisolami]

As we know inflation rates are increasing and money is losing it's value.
Is saving wise in this situation? Or you should invest your money in something?

It is very good to save
I have a feeling that things will be getting more expensive but we need to save.

 

[uptrendfinancialsignal]

It is so beneficial for us to save first then use the savings for a desired investment. It must be well planned and thoroughly thought about if potential or not.

Saving is very crucial and important thing that we must try to imbibe.

 

[Starmix]

Saving is very crucial and important thing that we must try to imbibe.

You are so right, no savings means a disaster during times of emergency and during times when you are in need of money very badly. You may turn to others to borrow money and during old age, the children will carry the burden.

 

[IB D]

I think it is better to invest than safe with the way that things are. The amoujnt saved would ultimately lose value within a couple of weeks. Let the money work by investing it.

 

[itermathi]

You should have saving always, you never know when that extra money can save you from an inconvenient (a malfunction in the car, medical attention) Especially given the economic situation where you now calculate the prices of the products you buy.

 

[riberet19]

You should have saving always, you never know when that extra money can save you from an inconvenient (a malfunction in the car, medical attention) Especially given the economic situation where you now calculate the prices of the products you buy.

Saving is a fundamental part of a healthy and structured finance, like investment, a large savings rate allows you to have money for unforeseen events, take advantage of investment or business opportunities, have good creditworthiness and also helps you sleep well at night for the tranquility it provides, also as you say the cost of general living has increased which makes savings at this time are even more important to many people.

 

[astutimeliana723]

No matter what the circumstances I always set aside some money for savings, I will not spend all the money I earn that day. At least 30% I save and the rest is for needs, if there is still some left I save again. If enough money has been collected I will try investing in gold.

 

[IB D]

Even if you don't save for any other thing, you save for emergency fund. That would mean that you save for things that might happen and you need utgebt cash to fix. Then you can invest the rest.

 

[Tampa-girl7]

As we know inflation rates are increasing and money is losing it's value.
Is saving wise in this situation? Or you should invest your money in something?

I believe in saving for the future.

 

[Imran Noori]

I believe in saving for the future.

Saving is for future because it will help you in your rainy days and also for starting your dream business, beside that savings are very necessary for retirement, these are the reasons that every individual needs savings.

 

[riberet19]

Saving is for future because it will help you in your rainy days and also for starting your dream business, beside that savings are very necessary for retirement, these are the reasons that every individual needs savings.

Exactly, who would not want to have money to spare for the day you retire and be able to live a comfortable life and with tranquility, in addition to that the savings as you say serves for times of trouble or economic recession and to also take advantage of investment opportunities or start your business.