Nowadays youths are earning more than the people used to get 10 years. But the irony is that the spending habits has also increased over the years. Youths tend to save money for future which would be used for personal and family responsibilities. Here are some disadvantage if you don’t save money now.
- You will lack enough surplus for health issues in future.
- You will lack funds to gain bigger assets in life like car, home.
- Post retirement wealth would be limited.
- Limited wealth to enjoy holidays.
- Restricted wealth to start anything of your own.
The best practice is to allocate a certain amount of income as saving on monthly basis and divert the savings into different financial instruments available in the market as long term investment.
My name is Sisir Ghosh. You can add your comment on the post. You can also email me at firstname.lastname@example.org