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How important is saving money to become rich?

Savings is the starting point of all riches. Savings will help you to gather and accumulate fund which you can turn into investments that will bring in more money for you. You can grow the fund faster when you reinvest the profits back into the investment.
 
Saving money is one of the essential aspects of building wealth and having a secure financial future. Saving money gives you a way out from uncertainties of life and provides you with an opportunity to enjoy a quality life so it is very essential to save money no matter how smallest your earnings is
 
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.
Savings is good but is only important to save to able to meet up with future needs. But I have not seen someone who became rich through savings. Savings don't increase the value of money rather the values decrease if it is a long term saving due factors like inflation. Investment is the best means to be rich and wealthy.
 
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.
Anyone intending to get rich must learn the principle of saving.
Not all Money earned should be used up.
It is essential to save a part and use it to invest in something profitable.
 
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
I quite agree with you,because the whole essence of purposeful savings when it come sto the parspective of growth for more earnngs,it should be for an investment,because savings alone cannot give the required fortune you desire,investment does.
 
Saving money can makes someone rich but not as faster as investing the money into new business or expanding the existing business you are into so I prefer investment to saving
 
To save is a very good one but to invest is better if not best, this days savings is little or not profitable it's doesn't bring the expected return value. It's either the bank charges you or the money or currency devalue but when you invest you get increase or return in value
i like your point of views on this. many people thinks its wise to only save without investing. when you invest you double your income or you fail.
 
Most people save some good amount of money but still end up spending those saving on luxury.
So I think the best way to save up money for future is by investing them and it can bring even better profit
 
Savings is the starting point of all riches. Savings will help you to gather and accumulate fund which you can turn into investments that will bring in more money for you. You can grow the fund faster when you reinvest the profits back into the investment.
Well said, from your own point of view, do you think it's wise to put in all your savings in an investment or would you but in half while you keep on saving the other half?
 
As important as saving money is, it is better to invest the money in something else that will yield more capital. If one just saves one's income it might not yield as much profit one's needs to consider himself or herself rich.
 
It's highly important to be rich in life in order to meet daily needs.
There are many wants for a man.
House rents, children school fees, vehicles maintainable, medical bills, business upgrading. There is no life activities without having money.
 
Well said, from your own point of view, do you think it's wise to put in all your savings in an investment or would you but in half while you keep on saving the other half?
I think the best thing is to divide the savings into three. So out of it should go to investment while the remaining one should go for miscellaneous spending. That is why I always do for my income and savings. The real key is patient and consistent.
 
that's true. this just emphasizing us not to spend more than we earn. but for you to become rich savings won't make you rich you need to invest a lot of money on different business that's when you can be rich.
 
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
Hmm.. I think without savings there will be not investment. It is through saving one can have funds to invest. To me a think the important thing here is balanced. To able to understand saving for the raining day is good but not all should be saved. part of it should be invested to have more income.
 
Sounds good written down like this, and I think if your earnings improve over time you should definitely focus on saving first instead of enjoying the luxury of being able to spend more, within reason. However if your income is low, it is not a realistic expectation to save over half of your earnings. Savings are important in every situation, but it's important to tailor your goals to your budget.
 
It can be very difficult to achieve financial freedom if you are not cultivating the habit of savings regularly unless you want to cheat your way to the top. You can start with just 1% saving of your income and gradually increase when savings become an habit.
 
Saving money is one of the essential aspects of building wealth and having a secure financial future. Saving money gives you a way out from uncertainties of life and provides you with an opportunity to enjoy a quality life
 
It can be very hard to invest when you don't have savings. Savings is the starting point of all the riches. You have to find a way to save a portion of your income regularly and then transform the savings into an investment in order to make more money.
 
Saving money is one of the essential aspects of building wealth and having a secure financial future. Saving money gives you a way out from uncertainties of life and provides you with an opportunity to enjoy a quality life
 

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