FOR: by Joseph Andrews
Conserving money brings 3 advantages to your life. Your money deals with your behalf so you can work less. By putting funds away, you’ll have more money when you really require it. Lastly, as you start to save, it spreads like happiness throughout your life FOR:
* Limitation the things you desire to purchase daily
* Takes a great deal of time
* Constantly lure to buy stuff
* Exacerbate psychology
* Makes people abundant
* Take it in case of emergency situation
* Let us have a backup plan
* Let us purchase expensive things (automobiles, houses).
* It offers you astounding freedom to do what you want to do, when you want to do it.
* You sleep better in the evening not worrying about losing your task.
* It’s easier to be “generous” due to the fact that it comes from your surplus. (it’s an actually bad factor to be charitable however it features having money).
* When you conserve money, you can start to think of retirement.
The options are open when you save cash and you don’t need to worry about any issues turning up if you have the cash saved.
* Less stress – If you have cash, you have tension. When you have little money, you have more tension. With conserving money you can have less tension and you can do the important things that you wished to.
* Travel when you desire- For those who are saving cash for being able to do the important things they desire, the benefit lies where you can take a trip as you please. It is nice to travel and see things that you have not been able to see.
Picture this, a person turns on the television and sees an advertisement for a new product. This product has new features never seen in the market or claims to be better than the competition. This person sees the price and where to buy; suddenly the thought “I need that right now, I’ll just die I don’t have it!” enters their head. 2- Saving comes easy for some, but it’s an impossible task for others. When I ask some friends about their savings, they sometimes cringe or tell me “I don’t want to think about that!” as if I asked them about a life-threatening disease. The act of saving doesn’t have to be difficult or painful. If done right, saving can be a wonderful thing you can look forward to each month. A few years ago, I didn’t really take saving seriously, but after implementing some techniques, it’s something I now look forward to with each paycheck. So how can we make saving easier to do?
Saving your money has never been easier. A savings account is just the thing that a person with the urge of keeping their money safe requires. They are easy to manage and all one needs is to have contacts of a financial institution to help them out. Savings accounts are a key to the future of your money.
It is quite clear that everything in this world has its own advantages and disadvantages. A savings account is quite advantageous on a larger scope, since it helps a person keep their money safe. One does not have to worry about burglary or being broken into once they have a savings account. Another advantage is that the savings account earns an interest to the customer as they continuously feed their account with money over a period of time. When the money is untouched for over a long period of time, it also earns more interest than when the account is accessed from time to time. A person is allowed to carry out transactions, withdrawals and even payments as long as the money is handled by the financial institution. This is not the case for all of them because they are governed by different bodies, some which are independent from the government while others are controlled by other bodies besides the government being a very big influence.
These accounts are profitable in that the customer is entitled to do what they want with the money because they have unlimited access to the savings account. They choose what they please as long as the account is active on what to with the money they possess. It is difficult to convince anyone that unlimited access cannot be as much fun as we think it is. The financial institution involved in coming up with the savings account for the customer is entirely dependent on what the customer desires. Decisions are made by the customer and what they want is what is accomplished through the bank. It is to the customer’s advantage for them to do as they please with the mandate they have over their own money. Implementation is not supposed to pose any worries. The savings accounts need to be updated every now and then, and this is often done by the customers.
They make the deposits from time to time to keep the account on check and demand to have reports on how their savings accounts are doing. This serves in major ways, considering all that has been put on an offer by the bank, all to the customer’s advantage. Another way that these savings accounts are profitable is how they are associated with the customer’s credit. It is often placed that if the customer faces a crisis, the savings account can be used to settle the debt without having to harass the customer. When the customer finally pays back what they owe, everything in the savings account is refunded. Disadvantages
One disadvantage is the unlimited access issue. When a person gets hold off their savings, they are tempted to overspend and may risk losing everything, including the profits they have made over the period that they have been working. A person may end up with nothing after so much hard work of saving and saving continuously for the future benefits. Accessing one’s savings account is very risky, especially if a financial assistant is involved. They may tend to hijack your pin number when you are totally unaware and access your account on your behalf ,which is tantamount to theft, and use up all your savings. It is hard for someone to keep track, especially if they trust their personal financial assistants so much.
Savings accounts are supposed to be very helpful in the future and accessing them whenever someone pleases is not a very advisable thing to do, considering it only profits the person then. It is a clear indication that they have no plan for their future in whatever manner, so the bank or the financial institution is supposed to be kept on deck. It is supposed to come up with a strategy that allows their customers to access their funds for a certain period of time and only under certain conditions.
A large part of our future depends entirely on what one decides to do with what we refer to as our resources. Savings accounts can act as our resources from which we can build what we opt to in the future.
Saving should become a large part of our financial lives if we really want to thrive in our economic situation. The decisions that we make today affect the outcome in the future, you need to start building your future brick by brick and have a saving account.
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Saving money in painful and unnecessary. (2016, Jun 09). Retrieved from https://studymoose.com/saving-money-in-painful-and-unnecessary-essay