Question Is saving money important?
Complete Answer Without savings;
- You are living paycheck to paycheck. Any interruption in your regular paycheck, such as a sudden illness, a cut in your work schedule, a temporary layoff, will cause your finances to quickly spiral downward.
- You don’t have money for a financial emergency expense.
- You cannot afford big ticket items (down payment on a house or a car, purchase of a washer/dryer, furniture, et ectera).
- There is no possibility of a comfortable retirement in your future.
- Most disheartening of all, at the end of another year, you have nothing to show for a year’s worth of work.
Financial Literacy Knowledge/Skill
Understand that savings is an important element of your financial literacy.
Comments or Questions
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Next week’s topic: How do you save money?