Why Should You Save? Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to: Earn interest and help your money grow; Reduce the temptation of spending irresponsibly; Make safer payments that are less time consuming and less expensive; Establish a relationship with the Bank; Enjoy services offered by banks such as access to loans; Have enough funds to cover living expenses in the event of a disaster or sickness; Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others. Develop a habit of saving.Read the Full Story
BOG FINANCIAL LITERACY PROGRAM
Why Should You Save?
Saving is important. The list of reasons should motivate one to start saving. Savings should be stored in a safe place, preferably a bank or saving institution which will allow you to:
- Earn interest and help your money grow;
- Reduce the temptation of spending irresponsibly;
- Make safer payments that are less time consuming and less expensive;
- Establish a relationship with the Bank;
- Enjoy services offered by banks such as access to loans;
- Have enough funds to cover living expenses in the event of a disaster or sickness;
- Pay for university/college expenses, wedding, buying a home and for a comfortable retirement, among others.
Develop a habit of saving.
