This question is absolutely important because majority of individuals think that in order to save money successfully they must indeed have a goal in which they are looking forward to achieve. Personally I do not consider this as important because, in all ramification opportunities to use our saving money will show up in the future but we need to be prepared for this, investment opportunities may be found or financial emergencies may occur, whichever way an individual must be financially prepared and to be financially prepared, saving money must be done. What do you guys think?
Your right that most people have that mindset of having a specific goals before they start saving, a very bad mindset. It's not until we have a specific goals before we save money. Why? Because if we have that mentality we won't save anybody in our entire life. Saving money is good, because one dayRead more
Your right that most people have that mindset of having a specific goals before they start saving, a very bad mindset. It’s not until we have a specific goals before we save money. Why? Because if we have that mentality we won’t save anybody in our entire life. Saving money is good, because one day that our savings can save us. My advice for the youths is, please if at all you had that mindset, clear it off and start your savings immediately, it’ll surely help you.
See lessWhile having a specific goal can provide a clear purpose for saving money, it is not absolutely necessary to have one. Saving money in itself is a wise financial habit that can provide a safety net for unexpected expenses or financial emergencies. It can also create opportunities for future investmeRead more
While having a specific goal can provide a clear purpose for saving money, it is not absolutely necessary to have one. Saving money in itself is a wise financial habit that can provide a safety net for unexpected expenses or financial emergencies. It can also create opportunities for future investments or big purchases. However, having a goal can serve as motivation and enable a more focused and intentional approach to saving.
See lessYou're right. I agree with your own opinion of opportunities to use the money saved will definitely show up. One does not need to have a goal for savings, common sense is what people need to understand that saving your money could go into anything and be for other things, unexpected things could hapRead more
You’re right. I agree with your own opinion of opportunities to use the money saved will definitely show up. One does not need to have a goal for savings, common sense is what people need to understand that saving your money could go into anything and be for other things, unexpected things could happen, like health, emergency relocation, strike, and a whole lot of unprepared things. During the covid sitiuation many people had emergency savings, as a backup to live on, since there was no going out during those period. Saving for a goal should be done separately from just saving for miscellaneous. You could do the two it’s not a bad idea, but it shouldn’t be mixed up so as not to confuse one for the other.
See lessYou do not necessarily need a goal to save money, you can just start saving regularly and keeping your savings in high yield saving accounts and use the money during emergencies, or buy properties, invest, or go on a vacation and enjoy your life. Depending on your needs and wants, you can do anythinRead more
You do not necessarily need a goal to save money, you can just start saving regularly and keeping your savings in high yield saving accounts and use the money during emergencies, or buy properties, invest, or go on a vacation and enjoy your life. Depending on your needs and wants, you can do anything with your savings. However, if you have a goal, saving becomes easier, you can also utilize your savings in a proper manner when you have saving goals
See lessPersonally, I have always like the idea of saving with a goal. That way, you becomes strict and self-disciplined in saving for exactly what you planned for. But the I also understand that emergencies are sometimes inevitable. But isn't that the importance of saving into an emergency fund account? IRead more
Personally, I have always like the idea of saving with a goal. That way, you becomes strict and self-disciplined in saving for exactly what you planned for.
But the I also understand that emergencies are sometimes inevitable. But isn’t that the importance of saving into an emergency fund account?
I think you can have both an emergency fund savings plan as well as savings meant for specific targets. But you should separate these accounts for the sake of clarity.
See lessHaving a particular goals in mind to start saving us not a bad idea as it contribute in a successful saving plan, having a goals in mind is this attitude that push people to concentrate on their saving because the goal you wish to archive is important but it doesn't change the fact that developingRead more
Having a particular goals in mind to start saving us not a bad idea as it contribute in a successful saving plan, having a goals in mind is this attitude that push people to concentrate on their saving because the goal you wish to archive is important but it doesn’t change the fact that developing a saving habits even when there’s no goals to archive is important because it helps in time of emergency.
It’s good to have a goals when saving but it’s a great idea to start saving even when there’s no goals to archive because emergency happen unexpected.
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