How important is saving money to become rich?

[Aaron625]

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

 

[Bousine123]

You can be more right my friend, but I think we should learn the concept of investing rather than just saving money. Your money cannot grow in savings.

Just invest as much as you can.

 

[joy101]

That is good to save money because saving small small like that before you will know you save much from it, if actually you want to becoming something in future, start to saving from somewhere.

 

[Kingstone]

From savings, one can get enough to invest in a profitable business. So savings is like the bedrock to getting rich in a sense because one will not find it comforting to invest with all income

 

[Pousinha]

Maybe nobody would become rich only by savings, but savings is in any way a must to not get broken and to not beg for money as far as possible. In any way, to save the 6% is not realistic for many people who live on minimum salary and in addition must maintain family member. But I think there should be an effort to save approximately 1%, when it gets harder to save more.

 

[Niftyyem]

I believe that the best is to ensure you save something from every income no matter how little and how many your responsibilities are. It helps during the rainy days.

 

[skyliequiz]

Saving money gives you a route out of life's uncertainty and allows you to live a more fulfilling life. Wealthy individuals have a strong practice of conserving money and keeping track of their spending in order to increase their fortune.

 

[Kelly5]

Of course I believe it is a general principle to save more than you spend. Saving money is good, but does not actually make you rich. It is what you do with the saved money that makes you rich

 

[jeff87]

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

I have just encountered this good idea you shared. It's because what happens to me most of the time is the $10 is fully spent or consummated for the family needs and we have no savings. It's good idea to save $6 out of $10 in order to get rich.

 

[Dagm1]

I think that the very best is actually to guarantee you conserve one thing coming from every earnings regardless of exactly how little bit of as well as the number of your obligations are actually. It assists throughout the wet times.

 

[eLdavis]

Though it is very important to have savings to support yourself but savings alone cannot make you rich, you need to have investments as well.

 

[Shigobad2020]

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

Saving money is very important if you want to get rich and usain bolt knows the importance of saving, I am earning $10 almost every two weeks and I am saving $4

 

[Yusuf]

Saving can't make any body rich unless you say you are saving money to start up a business or to Invest. However, it's very important to save in order to plan for future goals in life.

 

[jeff87]

You can be more right my friend, but I think we should learn the concept of investing rather than just saving money. Your money cannot grow in savings.

Just invest as much as you can.

You have a very good point. Saving might not be the way to get rich but through investment.

I highly recommend investment in cryptocurrency like Bitcoin. There is a great chance to become rich.

 

[Billy]

Usain Bolt says - " If you make $10 , save $6". And then you can figure out what to do with the rest of the money , whether to spend it for something important or use it for luxury. He suggests it's better to spend those left over money after saving on paying bills and other important stuffs. So the concept is simple to get rich or to become financially independent, one should always try to maintain higher percentage on saving money than spending it.

That is true. Developing the habit of Save first before spending is the only way to financial freedom and securing your future. Because the future you will only be taken care of by the current you. And saving and investment in things that will give passive income is the only way out.

 

[Stylex]

How is it important to save money to become rich
Well I think it is very important to save money to become rich in your near future ,and I also think that the money will be of more use in the nearest future

 

[tyrim88]

One of the hallmark of a person that will eventually be sucessful in management of his finance is his ability to properly manage his revenue properly.It is very instructive to always save for investment before spending what you have left.

Post automatically merged: Sep 2, 2021

One of the hallmark of a person that will eventually be sucessful in management of his finance is his ability to properly manage his revenue properly.It is very instructive to always save for investment before spending what you have left.

Post automatically merged: Sep 2, 2021

One of the hallmark of a person that will eventually be sucessful in management of his finance is his ability to properly manage his revenue properly.It is very instructive to always save for investment before spending what you have left.

Post automatically merged: Sep 2, 2021

One of the hallmark of a person that will eventually be sucessful in management of his finance is his ability to properly manage his revenue properly.It is very instructive to always save for investment before spending what you have left.

 

[Lens]

Rich people are big time money savers. If you are the type that lavish all your earnings of unnecessary things. Be ready to stay poor for the rest of your life, because it's from the savings that you would establish your own business or investment. Without money in the bank, nothing like business or investment.

 

[Heatman]

There is no way that is going to be very possible for you to just keep on saving money then become rich all of a sudden because the amount of money that you save without actually investing into something that will pay you better will not make you rich.

 

[tuna89]

There are different sources of saving money, to become rich it's good you invest in a business while you save from your profits as well, this will make the road to riches faster.