What good is saving money?

Why not invest it? My income is guaranteed. What's the point of saving? Other than if you don't know how to invest.


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Most Helpful Girl

  • It's important because you never know what could happen. You might end up having an accident and need to be hospitalized for a while or have to go to physical therapy, you might decide you want to move and could use some extra money to buy a nicer house/apartment, you could also start saving for retirement.. I don't know like I said ANYTHING can happen and sometimes investments crap out and you lose your money, save your money, you'll be glad you did. I mean you don't have to save every last penny just set aside a few dollars or however much from each pay check and save it up

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    • 2mo

      Maybe. But I'd rather invest.

Most Helpful Guy

  • Saving money adds interest. If you invest, you can lose all of it. That's literally how 2008 happened. You have a safety net as well

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    • 2mo

      Noooo, that 2008 happened. 2008 happened by a bunch of mortgage backed security trenches that were total junk and rated as safe. Check your facts

    • 2mo

      @Quitkyconfidence and the market crashed across the board starting with investors who invested in those junk loan subprimes trying to flip the market. On top of that, the market crashed, which is reflected over the stock market which is literally money investment

    • 2mo

      @Quitkyconfidence the causes were deeper than that. That's the tip of the iceberg. The problem was lack of new job creation that preceded this.

What Girls Said 2

  • Investing can be risky, if not done correctly.

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  • You save for the rainy days.

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    • 2mo

      But my income is guaranteed.

What Guys Said 3

  • It's simply easier.
    If you are looking to buy something in a month or so, pulling your money in and out of investments will be a pain in the ass and take time. Plus, taxes.

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  • You just answered your own question. Invest your money instead of saving.
    Like Futurama says "My caddy's chauffeur informs me that a bank is a place where people keep money that isn't properly invested"

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    • 2mo

      Sounds like a good quote.

  • INVEST IT! Keep only a couple thousand in your checking account for emergencys.

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    • 2mo

      Sounds like a plan.

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