The best ways for spending your savings?
By Trebor Ika
@Treborika (17896)
Mombasa, Kenya
February 3, 2024 2:04am CST
Hallo my brother's and sisters here on my lot.
It's my sincere hopes that everything is going great and updated in wherever corner of the globe you are.
The weather is very fine this morning.
So we have been encouraged to make savings and really saving little by little depending on how you earn is very a great thing.
As you all know that savings are very important in our lives as it can sort that financial emergency that comes in a rainy day.
So most people have savings but they tend to spend it anyhow out of the intended saving purpose.
So what is the best way to spend the savings?
Good luck.
4 people like this
3 responses
@porwest (99673)
• United States
3 Feb 24
The best thing to do is NOT to spend it. It defies the purpose of savings which not only should be there for a rainy day, but should also be used to grow wealth. The money is best put into higher yeild vehicles like the stock market, high yield savings accounts and CDs. If you want to spend something, I say, spend the proceeds but leave the principal alone, and when it comes to spending the proceeds...
Leave some back to continue to build on more proceeds.
1 person likes this
@porwest (99673)
• United States
4 Feb 24
@Treborika I am glad you found some of it useful.
1 person likes this
@Treborika (17896)
• Mombasa, Kenya
3 Feb 24
That's very wonderful advice. I surely have taken something from there.
1 person likes this
@Treborika (17896)
• Mombasa, Kenya
3 Feb 24
I am always filling thrilled by your responses. That's so interesting my friend
1 person likes this
