Why is it important to save money? (1 point)
Responses
If you have money in savings, you won’t be charged interest on your loans.
If you save money now, you will have multiple bankruptcy options in the future
Saving money allows you to pay for expensive goods and services in the future.
Saving money is a requirement once you start earning a regular salary.
- It provides financial security and peace of mind in case of emergencies or unexpected expenses.
- It can help you reach your financial goals and achieve your dreams, such as purchasing a home, starting a business, or traveling.
- It can help you retire comfortably and maintain your standard of living in your later years.
- It allows you to have flexibility and freedom in your financial decisions, rather than being limited by your current income.
- It can help you build wealth and leave a financial legacy for future generations.