Post
Topic
Board Economics
Re: You can't meet all your needs/desires at once, even if you spend all your salary
by
agustina2
on 28/09/2023, 22:47:54 UTC
So, folks, I wish to remind us to always keep to your budget, still hold on to your savings, and invest for the future. Don't always think you can use your entire savings to solve today's problem, forgetting that tomorrow's needs, desires, and problems are going to evolve.

Isn't it that we do save money for the future? Basically, we shouldn't think that our entire savings currently can solve all the problems regardless of whether it's current or in the future. What matters is, that in case of emergency or urgent needs, we do have backup money that is just waiting to be deployed.

For our savings to be a good financial source in case of urgent needs it needs to grow over time.

Finding a stable work or source of income is the key to having healthy savings. Investing also in insurance might be considered.