Post
Topic
Board Economics
Re: Are people really having the wrong concept of savings?
by
WatChe
on 22/02/2023, 05:32:01 UTC
This is the correct concept of saving, because no matter how much we save from our youth, the money will definitely be used too. Whether it's to buy a new house, new car, or urgent needs. There's nothing wrong with us cutting the budget for the purpose of saving and that doesn't mean that money can't be used either. Precisely when we don't save our money, we are like "work today to eat today, tomorrow is tomorrow, the future is the future". we as the younger generation must start saving from now on.

Saving is something that goes in a place where you can't access it. The reason why most of us end up spending our savings is because we keep them in our bank accounts, which are under our direct access anytime we want.
The best way to save your money is to lock them in your bank (saving accounts) for a specific period. Saving is a habit that must be developed from your childhood and parents have to play there part to teach there kids about this habit.