The Importance of Saving Money
For which everyone knows money is one of the most important things in our daily lives today. You need money for literally everything, bills,cars,food, your children,clothes and etc. Without money you won’t really make a comfortable living in America because mostly everyone is “money hungry” which means that people are so desperate for money that they will do absolutely anything to get it. This topic was chosen because everyone should know why it is super important to save money, instead of just running and blowing all of it on something that they don’t need or spending it on the wrong things. For myself I kind of struggle with saving money because of all the clothes that are available that and all the shoes, …show more content…
The idea of saving money is the best idea a person can have because the more you save your financial situation is more likely to improve over time, saving money is really worth the effort. The more you save the more options you are going to have, the more you save, the easier it becomes to keep adding additional savings. More studies show that a good way to save money is to take half of your check and deposit it into your bank account and don’t touch it unless it is used for when you really need it. Saving money can also help in the long run with your children, saving money can go towards their college funds, it is extremely recommended that you start saving for your childrens college funds so when they get older and ready for college they have a nice amount of money to pay for their semesters and the college. The more you save the more your financial worries are going to go down, all you have to do is “LIVE WITHIN YOUR MEANS” and not always looking for new things to buy. Something that can be very helpful is that the more money that you save, the more you control your own destiny. If you were to have a job that is stressing you out, you could quit and have money that you have been saving to hold you over until you find a brand new job that you like, but make sure that you’re not stressing about anything anymore and you’ll be just fine. Another thing …show more content…
The survey was also supported by another similar survey of 1,000 adults carried out earlier this year by personal finance site Bankrate.com, which this survey has found that 62% of Americans have no emergency savings for things such as a 1,000$ emergency room visit or a 500$ car repair. When the adults would face with emergencies 26% would reduce spending somewhere else, 16% would borrow from family or friends, and 12% would use a credit card. A reason why Americans are not saving is because bank fees can penalize the poorest Americans . Banks have made little progress since 2008 to encourage savings accounts among lower-income households and the young. Banks are “predators” they don’t feel they can make much profit on small accounts, so they continue to charge significant fees for accounts, establish minimum balances, and overdraft fees, all which drive lower-income and young people away from having a bank account. Most people are “living for today and forgetting about tomorrow”. The lack of savings is partly due to a failure of the
For which everyone knows money is one of the most important things in our daily lives today. You need money for literally everything, bills,cars,food, your children,clothes and etc. Without money you won’t really make a comfortable living in America because mostly everyone is “money hungry” which means that people are so desperate for money that they will do absolutely anything to get it. This topic was chosen because everyone should know why it is super important to save money, instead of just running and blowing all of it on something that they don’t need or spending it on the wrong things. For myself I kind of struggle with saving money because of all the clothes that are available that and all the shoes, …show more content…
The idea of saving money is the best idea a person can have because the more you save your financial situation is more likely to improve over time, saving money is really worth the effort. The more you save the more options you are going to have, the more you save, the easier it becomes to keep adding additional savings. More studies show that a good way to save money is to take half of your check and deposit it into your bank account and don’t touch it unless it is used for when you really need it. Saving money can also help in the long run with your children, saving money can go towards their college funds, it is extremely recommended that you start saving for your childrens college funds so when they get older and ready for college they have a nice amount of money to pay for their semesters and the college. The more you save the more your financial worries are going to go down, all you have to do is “LIVE WITHIN YOUR MEANS” and not always looking for new things to buy. Something that can be very helpful is that the more money that you save, the more you control your own destiny. If you were to have a job that is stressing you out, you could quit and have money that you have been saving to hold you over until you find a brand new job that you like, but make sure that you’re not stressing about anything anymore and you’ll be just fine. Another thing …show more content…
The survey was also supported by another similar survey of 1,000 adults carried out earlier this year by personal finance site Bankrate.com, which this survey has found that 62% of Americans have no emergency savings for things such as a 1,000$ emergency room visit or a 500$ car repair. When the adults would face with emergencies 26% would reduce spending somewhere else, 16% would borrow from family or friends, and 12% would use a credit card. A reason why Americans are not saving is because bank fees can penalize the poorest Americans . Banks have made little progress since 2008 to encourage savings accounts among lower-income households and the young. Banks are “predators” they don’t feel they can make much profit on small accounts, so they continue to charge significant fees for accounts, establish minimum balances, and overdraft fees, all which drive lower-income and young people away from having a bank account. Most people are “living for today and forgetting about tomorrow”. The lack of savings is partly due to a failure of the