What is the importance of saving in life ?

niftytrader

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" Don't save what is left after spending; spend what is left after savings". This is tho famous quote of legendary Warren buffett about importance of saving in life.
I followed this rule in my life and what about you friends ?
 
It's a wise rule and as it comes from the richest man in the world, i guess we can trust him. The problem is that lots of people are struggling to survive due to the high cost of life and can't make savings. When you can earn enough money to live comfortably then you can think about saving... not before!
 
dreamteamcoop said:
It's a wise rule and as it comes from the richest man in the world, i guess we can trust him. The problem is that lots of people are struggling to survive due to the high cost of life and can't make savings. When you can earn enough money to live comfortably then you can think about saving... not before!
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You are absolutely right. I think sir Warren Buffet give this advice for them, which earned much better money but spend all in unnecessary expenses without thinking about future.
 
wow, that's a good quote i've ever read. that's absolutely right. you should save first before spending. it's very hard when you've never noticed that you already spend all you're money on stuffs that are not that important. it's good if you will save it first, use the money for important things that you need, and then once there are spare savings, you're ready to hit the mall! :Devil::Devil::Devil::Laugh:
 
saving is so important. It's for our future. some people don't believe in saving. They spend all that they have thinking that they could get the same on the next day. But we don't know what happens on our future that's why we it's important that we prepare for it. Therefore we should save so we could be ready for our whatever we face on the coming days.
 
i don't usually save because everytime i save something i loose more than i save so i rather not to save.
 
Saving has great importance in our life. Our life is not always the same . There are ups and downs so we may have money problem when we are in difficulty so have a habit of saving . It does not matter how small or less the saving that proves its importance at hard times.
 
Personally this is a Great rule in life to follow. Because overall you should set aside a small amount for savings, and when in Church it should be 10% to tithes, 5% to offering, and 5-10% in savings first before anything else. When you learn to do and follow this life will be a lot better in the end.
 
i like to save at least 20% whatever I earn and keep it in a place where I get interest as well, that makes me doubly benifitted as on one hand I have my money secured and getting interest too. This comes in handy in rainy days.
 
the importance of saving is for emergency cases.
We can never tell when there will be emergency at home.
So...we should always try to save few money for emergency cases.
It's better to have a small savings than having nothing in time of crisis.
 
As you start savings you will develop a real interest in seeing the balance of your savings account growing each month. You should also keep close tabs on your spending so that you are not dipping into your savings for things you don’t really need. At first you will likely start with a basic savings account that doesn’t yield much in terms of interest. Once you have a substantial amount of money in the account, you can change the account to one that pays more interest and thus save more money.
Only money can help us in most of the situations,so savings is very important in one's life.
 
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