ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Spend all your money
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Save some money
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Money grows on trees
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Burn some money
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Detailed explanation-1: -Saving provides a financial “backstop” for life’s uncertainties and increases feelings of security and peace of mind. Once an adequate emergency fund is established, savings can also provide the “seed money” for higher-yielding investments such as stocks, bonds, and mutual funds.
Detailed explanation-2: -Savings refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period. Savings, therefore, represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.
Detailed explanation-3: -Financial independence. Financial independence gives you the ability to live without depending on others for financial support. Emergency funds. Debt Free Living. Better Retirement. Leave a legacy for loved ones. Achieve long-term financial goals. Investing. Irregular or recurring expenses. More items •15-Dec-2022
Detailed explanation-4: -Emergency fund. Nearly a quarter of savers who take the America Saves pledge chose “emergency savings” as their first wealth-building goal. Large Purchase. Car. Vacation. Retirement. Debt Repayment. Education. Homeownership. More items