Ask Leo- Do we still need to save money when the economy is getting worsen?

I know you'll be wondering why saving money has to do with economy melt down, honestly it has lot to do because saving is one of the crucial way to grow financial, avoid debt and avoid unnecessary spending.

Saving is act of keep money out of our income or earning for later use, however many of us have been doing this to reduce the way we spend, use it to put difference between our want and needs. And saving money has save a lot of people from running into debt and it provides financial stability for young that save for their future.

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In terms of emergency, bills, and other future expenses saving money helps in many ways and have seen it impact on the world and people that save money. Saving money is good and it will still be one of tools for our financial freedom, but it's not easy as it say.

Frankly saving money is not easy as we say it. Some people find it difficult to save money, they find it difficult to save part of their income and i would say i am part of those that find it difficult to save money.

Though we are all taught to save money for the rainy day but i never taught the rainy day is next in front of me. That's funny right? Not funny, that is the truth.

The effect of economy has changed the way we see saving, we see saving as one kind of money that we put in plan or avoid to touch if not for what we save it for, but not today that economy have change everything. The economy makes our savings irrelevant to us in two ways;

Firstly the rise in market product makes us feel our savings are worthless. I say this because things are getting in higher price these days and what you save money for today will be 3x of your saving tomorrow and that discouraged many of us to put that money into savings. For instance I know the actual price for a Tv is $100 and i have been saving to get $100 but there is probability that the TV i set to buy will increase in price while i was still struggling to keep $100. For that reason the price will extend my time of saving and if probably i might lose focus.

Secondly, the economy has changed the way i see savings, with lot of expenses and high standards of living saving become irrelevant. For instance someone struggling to balance with his daily expenses and family will that person have a reason to keep money in saving when the one they have is not enough to takecare of all the bills. The truth is that our salary already on budget and at the end we have nothing left to save due to often increase in price of things we use daily (inflation) .

This really give me concern a lot about saving money. I remember whenever i try to save, i endup going there the following week, the money I saves will then be the one to save meanwhile that is not the purpose of saving it.

Whatever it is, saving is still good at least i have where to put my trust even if i dint achieve my goal of saving the money, at least it save me for another day.