Write any essay on ANY ONE of the following in 150 words.
a. Importance of savings.
Answers
The importance of saving money cannot be understated. In fact, with so many proven benefits, saving money is one of the best financial habits you can adopt. But, if saving money doesn’t come easy to you, or you just don’t see the point, it’s natural to ask yourself, why is saving money important?
First and foremost, saving money is important because it helps protect you in the event of a financial emergency. Additionally, saving money can help you pay for large purchases, avoid debt, reduce your financial stress, leave a financial legacy, and provide you with a greater sense of financial freedom.
Truthfully, there are countless reasons to save money.
So, if you’re in need of a little money-saving motivation, or just want a further explanation as to why saving money is so important, you are in the right spot.
In this post, I’m going to take a deeper dive into the importance of saving money, and cover the top 15 reasons to start saving today.
Side Note: Here at Be The Budget, we strongly believe that you should put your money into a savings account that earns more than a measly few cents of interest each month. For that reason, we recommend the Axos High Yield Savings Account. With an interest rate much higher than the national average, no monthly maintenance fees, no minimum balance requirements, and a whole suite of digital money management tools, this savings account is hard to beat.
Answer:
IMPORTANCE OF SAVINGS
THE MONEY WHICH WE SAVE AFTER HAVING EXPENSES FOR OUR LIVELIHOOD IS CALLED AS SAVINGS. SAVINGS IS THOSE MONEY WHICH CAN BE USE ANY TIME WHEN THERE IS PROBLEM IN OUR LIFE. DURING PANDEMICS IT IS VERY USEFUL TO PEOPLE. THE PERSON WHO SAVE MONEY FOR THEIR FUTURE WILL FEEL FREE.