"Save money or spend money you think that's the more correct way of life?"

Greetings, Steemians! I am @hahdie and I want to talk about the topic, "Save money or spend money you think that's the more correct way of life"

What saving means

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To save simply means saving. Saving is the process by which one decides to keep a percentage of his wage, salary or proceeds in a safe. The safe could be a bank, saving box or with persons. Saving involves virtues like determination, discipline, consistency and dedication.

Savings can be done for a particular purpose or it can be done in view of circumstances that come with prior information. Saving, could save one from a whole lot of unnecessary trauma.

What spending is

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Spending simply means to spend. Spending has to do with making use of one's salary, wage or proceeds to purchase items. One could spend on the right items and on the wrong items too. Spending on the right items implies purchasing items that are of importance to one's life like medications when one is ill, paying for fees ,etc and spending on the wrong things implies purchasing things that are not of importance like spending money on alcohol which in excess is detrimental to our health, junks which also in excess is of a bad effect on our health.

My preference; saving money

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Personally, saving money is better than spending money. Although I also have to add that when necessary one can spend money. Saving money after been able to sort out our bills is one attitude that someone who wants to be great in life needs to possess. Saving supports our financial health.

Saving has a lot of importance like:

• It helps inculcate in us the virtue of discipline.
• Saving keeps us ready for the rainy days( in this class, I mean days of adversity or occurrence of an unforseen circumstance).
• Saving helps us in finishing up long term projects.
• When savings is done in little ways, after a while it grows to a huge amount. This alone helps one to build self-confidence.
• Savings enhance investments.
• Saving helps one build his net worth.
• It helps one avoid debts.

Spending on things that are not necessary are detrimental to our financial health in the following ways.

• Spending recklessly brings about wanting to spend more and this in turn breeds debts.
• Spending makes it difficult for one to grow in the financial world.
• When unforseen circumstances happen, one do not have where to get money to get things sorted out and he ends up borrowing.
• The effect of spending recklessly is traumatizing.
• Having a spending habit inhibits the completion of projects.

In conclusion, I'd say saving is more profitable than spending.