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4 years ago

What are the benefits of saving

Social Studies

2 answers:

aalyn [17]4 years ago

6 0

Answer:

Helps in emergencies: Emergencies are always unexpected

Cushions against sudden job loss: Job loss is usually traumatic

Helps to finance vacations

Limits debt

Gives financial freedom

Helps prepare for retirement

Helps finance further education

Explanation:

1. Helps in emergencies:

Emergencies are always unexpected. Therefore, when they occur, the funds required are usually not part of the regular budget. There will be pressure to look for extra funds at a very short notice. This problem can be compounded if the emergency is a sudden illness or car accident. It could be a matter of life and death. Accumulated savings can go a long way in alleviating the situation. The patient will receive the required treatment immediately. Other emergencies that could be financed through savings are funeral expenses, urgent house repairs and even car repairs. That said, such emergencies usually require a large sum of money. If one lacks the requisite funds, they can consider applying for a personal loan with a licensed money lender in Singapore. This will help to ease their finances for the time being.

omeli [17]4 years ago

4 0

A couple benefits of saving money are you can use it when in need, and it helps you from purchasing things you might regret in the future

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