Write a essay on the topic "Importance of savings" in 250 - 300 words.
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Answers
Explanation:
Save money and money will save you’
Even though you might find it hard to believe, saving money actually does feel great. It gives you a sense of responsibility and that you are doing something important for you and your family. Whether you are saving for a house, a car or the education of your children, every time you manage to save some money for that cause should be very rewarding and there will be a smile on your face. Every time you save some money you will realise that you are one step closer to getting what you want.
When you save enough money and you are able to buy what you want we can assure you that it will feel amazing. You will appreciate what you bought more because you know how hard you worked to buy it.
Saving money for the future is one of the great habits of wealthy people. Rich people are getting richer because they have successful habits of controlling their expenses and being careful in the way they spend their money to grow their expenses. Saving money does not mean that you have to be thrifty. People who set the goal to save must learn to save first and spend afterwards. If you want to achieve your financial goal the most important step is to save first.
But what are the benefits of saving apart from being able to buy what you want?
It is less stressful: Knowing that you are always trying to make ends meet and one paycheck away from a financial crisis is extremely stressful. Over time, this takes its toll and can lead to a number of serious health conditions such as anxiety, depression, insomnia and even heart problems.
Improve your financial being: Developing a saving habit will improve your life. It stops you from overspending, debts and feeling stressful. Saving shows that you are committing to yourself to improve your financial status.
Comes handy when stuff happens: You will feel prepared for the unexpected if you have some savings. You never know what catastrophic events are about to occur, so it’s better to have some saving to save yourself from a lot of stress, anxiety, heartburn and misery during time of emergency.
Retire early: People who save money when they’re young can retire early. Saving for retirement funds is a good investment. The make some sacrifices and buy things that are not too expensive and stop buying things that they can do without. If you want to retire early, you have to start saving early.
These are some tips to save money:
Never buy expensive things on impulse
Use debit and credit cards prudently
Take advantage of discounts or incentive programs provided by the employer.
Save money by buying items online in bulk
Substitute coffee for expensive coffee drinks
Bring lunch to work
Eat out less every month
Shop for food with a list and stick to it
Take fewer cab rides and use public transport more
Compare airlines for cheap fares
Assess clothing in terms of quality as well as price
Communicate by email rather than by phone
Borrow books rather than purchasing them
Saving money has both physical and psychological benefits. Start saving now! The sooner you start the better, you will even earn some more by saving.
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Answer:
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving.
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving.
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving. Most of us know the importance of saving. However, not many of us are aware about World Savings Day, its history and World Savings Banks Institute among others.
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving. Most of us know the importance of saving. However, not many of us are aware about World Savings Day, its history and World Savings Banks Institute among others.History of World Savings Day
Right from our childhood days, our parents teach us that a penny saved is a penny earned. The phrase highlights the importance of savings. While growing up, our elders constantly tell us that we should spend less than we earn and save some portion for future use. They also teach us to spend money according to our income, and our expenses should not exceed our income.Saving is the path to success. The money saved can be used in tough times such as any emergency medical situation. It can also be used to create more money by the way of investment. That is why it is said a penny saved is a penny earned because you start earning more with your saving. Most of us know the importance of saving. However, not many of us are aware about World Savings Day, its history and World Savings Banks Institute among others.History of World Savings DayThe World Savings Day was established at the International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy on October 31, 1924. The Italian Professor Filippo Ravizza declared this day the "International Saving Day". Also called 'World Thrift Day', the World Savings Day was established to promote savings all over the World. Originally the idea was to educate families, children and thereby the whole society to save and particularly convince them of the importance of saving.
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