Post
Topic
Board Economics
Re: Take care of your money and learn to save.
by
reagansimms
on 02/07/2024, 02:59:56 UTC
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There is a saying about, "it is not how much you earn but how much you keep". We need to live with that term because high paying jobs and skills won't last forever. This time is full of uncertainty that even in the most stable jobs, you'll never know if the company's budget is still intact and might do some laying offs.
People who want to be free from financial problems will not waste their money, they will continue to work to make money to save their money or invest so that when the time comes, they can make their money work for them. Using your free time to make money can help increase your income, then investing that money as a form of early anticipation before undesirable things happen. Uncertainty in life can come to anyone, it is necessary to prepare to achieve financial freedom to achieve independence by achieving wealth that can prevent being trapped in the poverty line.

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I agree and don't just save at all. You need to learn to save money for you to allocate that into investments. So, when the time comes for you and you're no longer working, your money is the one that will work for you.
Investing money that is not used for other needs can build wealth when you enter retirement, making money work for you is the right strategy to prevent economic difficulties in old age. So, you need education about saving first before spending money.