Ask Leo: Does savings helps to live a better life

in LeoFinance2 years ago (edited)

Savings helps to have and live a better life. Through saving it has help to spent money prudently. When you have the mindset of saving at all time you begin to cut out unnecessary things which are not useful.
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Savings can give you freedom

Through savings you have a total freedom. Imagine you save there are unforeseen expenses that comes you will be to settle them with ease without panic or fear. You might know what to save now but soon or later you will find it useful. Savings helps you to spend money at will to get what you need at a particular time without any stress.

Savings provides you with financial security

Saving provide you with financial security that is your future will be secured. You will not be caught with any financial emergency and you enjoy life and your future self will have a great lifestyle it deserves.
At this point you can have money at hand and also invest your money in a place that is secure and provide interest every time to secure your future.

Savings can help you to take calculated risk

When you save you are building a cash reserves which can help you to take calculated risks. As this point I will use myself as an example I quit being a teacher and pursue to be self employed going for a poultry business. Now I have save little amount of money which could get me going. Two consecutive poultry business was a success. Now suppose I don’t have enough saving at that time I will be trapped to continue to be under a person and I will not be able to take that risk of leaving the job.

Saving is good though it might be hard for long periods of time but it really worth trying with the aforementioned point. It makes you to have and live a better life

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Posted Using LeoFinance Beta

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