Saving money is essential in today's economy

When we talked about saving we are not just talking about money or things we put aside because they are not useful at the moment. Probably many don't know how saving of money works and what exactly we refers to saving and what impact it takes on our financial life.

Undoubtedly many of us misunderstood the money we put aside and the money we intentionally save for the rainy day and because we misunderstood the concept of saving, some couldn't find it easy to save money. In today's economy where the money you think you save is the one that will save you the following day.

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Savings is the act of setting aside a particular ratio of your money either on a weekly basis or monthly basis

For someone to save it requires a lot of SACRIFICE AND DISCIPLINE these are what most people lack that make it difficult for them to save
This is what the Financial institute in Nigeria took seriously and they come about FIXED DEPOSIT ACCOUNT where you can save your money monthly and guess what it’s even coming with interest at the end of the stipulated period,You see why savings is very imperative?.

The COOPERATIVE SOCIETIES too also encouraged savings apart from Banks, they save monthly and disbursed savings at the end of the stipulated period.

Also the LOAN COMPANIES also appreciate savings, as you are paying ur loan you save as well and your money will be given to you at the end of your refunding process.

All these are in the benefit of securing the future because if you fail to cultivate the habit of savings you’re loosing it.For an adage says”you can’t eat ur cake and have it”.

But a lot of people do not realize that savings form a crucial aspect in an occurrence which has greatly impacted our financial existence. Indeed, not all people know that much about the consequences of saving.

In spite of this fact, saving money has become a problem due to the turbulent economic conditions that are prevalent in many countries at the moment. Today everything around us has changed drastically; for instance, putting some of our assets including cryptocurrencies and money in saving may seem challenging due to the escalating everyday’s expenditure and other needs. And if we are ask randomly people around on how they saved 3 years ago compared to today, you'll hear different stories on how saving become hard in today's economy.

Funny enough, as a way of saving money these days, you are likely to wake up the following day and spend it on unnecessary things! The way the saving processes are done on the Hive blockchain is the sense in which I like it. A smart approach of autosaving Hive as HP is an awesome practice which assists in growing one’s Hive naturally without feelings and stress, or later go back following day to spend it.

Saving is more essential in today's economy whether the cost of living rises daily or not, we all need to put in the practice on how to save even though it's not easy as it, but let's face it: we can only build our financial security by saving some money for future.

Posted Using InLeo Alpha