Explain four advantages of saving money.
Answers
Having some amount in savings can help one to limit the amount of debt burden that they have. Savings can be used to finance certain expenses instead of using a credit card. This will definitely limit the amount of debt liability and will also save the amount that could have been spent on interest.
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Explanation:
Saving money requires a lot of discipline. However, with firm determination, it is not a difficult habit to adopt. Many Singaporeans can benefit greatly from the habit of saving if they choose to do it faithfully. Have a read of Thrifty Two for tips on saving your money then read some of the benefits as described below:
1. Helps in emergencies
Cushions against sudden job loss:
Helps to finance vacations
Gives financial freedom
Helps prepare for retirement
....etc