spending vs saving money, which one is better under the current situation?

China
November 7, 2010 1:36am CST
type "save money" into google, we'll get some 546,000,000 related results while typing "spend money" into it, there is only 155,000,000 ones, which is likely one thirds of the sum of "save money". What does this figure mean?? And when compared to each other, saving vs spending money, which is better under the current situation.
2 people like this
17 responses
• India
8 Nov 10
That is a very good question you have asked.And the answer according to me is: I\in whatever situation and not only the current, saving money ought to be definitely favored more than spending money.After all spending should be done carefully so that it does not affect our long term financial goals.And in any case seeing your money grow gives a more wonderful feeling than seeing it go away from you in unwanted expenditure.Spend and save wisely should be the aim.Try to strike a balance with the saving habit more pronounced.
@daliaj (5689)
• India
8 Nov 10
I recently saw this quote in facebook as one of my friends' status "saving money is as exciting as spending money, the only thing is that you just have to start". I think in the current situation it is wise to save money that spending money. Economy is not in good situation. I think people ar aware of it. These days I see very few people eating out or at movie theaters. I went out on halloween day and rarely saw people at bars and resturants where a lot of people used to be out at that time.
@lingli_78 (12852)
• Australia
8 Nov 10
the answer is quite obvious... in the current economic situations, saving money is of course better than spending money... in fact, i always try to live a frugal life and don't spend my money unnecessarily in case something unexpected happen in my life and i need urgent money... take care and have a nice day...
@sedel1027 (17868)
• United States
8 Nov 10
In my opinion, you should always save first. If you have money to go out to dinner, see a movie, ect, you have money to save up for an emergency. If more people saved - even just $5 a week - when hard times hit or when retirement came, they wouldn't be as bad off.
• United States
7 Nov 10
I'd say saving money is important, because in the economy and what the government's doing you never know what's going to happen, so I'd say, save up some money, but I like to spend money so I'm kind of in a tight spot, but it's still important to save money.
@r0nnieb0i (121)
• India
7 Nov 10
Under any condition its always good to save money. If god forbid any bad situation arises, you would have a reserve from which you could spend. I am not sure if the world is ready for another recession .. So yeah... Save as much as you can.. :) Spending it would follow..
@puccagirl (7316)
• Israel
7 Nov 10
Saving is always better if you just can, even if you just save very small amounts. I think most people realize this, and this is why they try to get better at saving. But spending comes easily to most of us, so there is generally no need to learn about that or get tips about it.
@asyria51 (2870)
• United States
7 Nov 10
Our current economic situation was created by people spending recklessly, buying above their means and the banking institutions signing off on it. If people saved up for big purchases instead of just charging it with the idea of oh, i'll just pay it later, we would not be in the current economic predictament. When my husband and i bought our house, we put down 20%, WE bought within our means, taking in account one of us losing our jobs.
@sjlskl (3385)
• Singapore
7 Nov 10
Another argument is spend after saving or save after spending. If you ask me, I would think the former is a wiser choice. I have tried the latter and the result is the current situation I am in. Debts debts and debts.
@youless (87138)
• Guangzhou, China
7 Nov 10
I found that today everything's price is keeping increasing, except for the salary. So I don't think it is wise to spend more money at present. Especially if you want to pay by credit card and return to the money later. It is easy to lead to a big debt at the end. The best is to try the best to earn the money. Saving money seems to be safe, but actually your money will be less worthy as time goes by. I love China
• Philippines
7 Nov 10
I say: save money and spend it on the right time. Spend and save are too dependent on each other if you know what I mean. But there are 2 choices: Spend money or Save money and spend it. Spend money can get you near nowhere to the fact that you can get only low cost things unlike saving money and spending it can give your money a whole new list of things to buy.
@vandana7 (57495)
• India
7 Nov 10
If you want to use saving as a synonym for investment then I'd say saving is better. Frankly, these are inflationary times, and will continue to be so for another two to three years. In inflationary times, savings in secure type of investments is bad. This is because the value of your saving comes down - it gets discounted. So opting to invest in assets that are likely to appreciate is a good choice. Indirectly it means spending may be. :) Investment in gold funds - i.e., exchange traded funds is what I would advise if the amounts with you are not much. If, however, you have a reasonably good amount in hand, you might consider taking some real estate property - pay its down payment, and take a loan. Of course, loan may seem quite laborious going forward for a couple of years, but dont take adjustable rate home loans. Instead opt for fixed interest bearing mortgages. In about five or six years time, the loan would seem much easier to handle. Real estate prices are really down, and there is no other way but up for them. Give about four to five years time - they will be bursting at seams again though not as bad as 2007. Hope you got your answer. :)
@megamatt (14333)
• United States
7 Nov 10
To me personally, it is not what you make, its what you save. Therefore, I need to really save money. That is more important to me personally. True, spending does make the economy work, but how are you going to spend anything, when you have no money because you have not saved? Just something interesting to think about. People spend money like its burning a hole through their pocket but when they get into a tough situation, they are in a lot of trouble. I think that in the end, saving is just a smart thing to do. Life will be full of emergencies, so it is important to have something really set back and ready to go just in case of a rainy day. Don't have to save everything, but spending everything can be just costly and many people are in the situation they are in right now, because they have poor spending habits. At least that is the way that I see things in this situation.
@stevecsh (49)
• Malaysia
7 Nov 10
I spend more than I earned. But its not a matter of whether saving is better or spending is better. We must think if we had spend our hard earned money wisely. That is the main point. Even in bad times, poor economy, we have to spend as well. So its just a matter of whether if its worthy or not.
@chookie1971 (2277)
• Australia
7 Nov 10
I feel under the current situation is best to balance both. In my opinion it is best to start off with paying for the every day bills. Then, what is left over, save some and spend the rest. I know with american acconomy is still struggling, so spending is important as saving.
@picjim (3003)
• India
7 Nov 10
Both are good but first we have to earn before we can spend.A person who has worked hard and judiciously will realise the value of both.I wouldn't advocate spending without limit or saving without spending at all.One need not stint on spending but at the same time consider ones economic condition before deciding whether a commodity purchased has value or not.
@Cutie18f (9564)
• Philippines
7 Nov 10
Of course, under any situation, saving is important. Spending needlessly will only drain us financially. In this economic crisis it is imperative that stash away some savings while we can to make us survive rainy days in the future.