Ask Leo: how crucial is maintaining the balance between saving and spending impact our financial stability?

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Saving and spending are two major factor when it's comes to finance but maintaining the balance between both should be our main objectives as loosing the balance between saving and spending can really affect our financial wellness. Saving money is very crucial as it's present us freedom and financial security. Through saving, one can attain financial stability, keep us away from debt and can also grant us peace of mind but all this can be achieved if we can find the right balance to saving and spending because a lot of people often forget this and spend more than what they earn.

Finding the balance between saving and spending is very crucial for every individual, looking around us, we have witnessed people who owned assets worth of multimillionaire and later went broke and go back to the street where it all started for them simply because they can maintain the balance between saving and spending.

Sometimes, we thought that we have worked so hard by accumulating a huge wealth, and we forget to saving and begin to spend lavishly and with the blink of eye everything is gone.

Many people have went from millionaire to nothing, and from great business men to bankruptcy simply because they couldn't not maintain the balance between saving and spending. We forget that if we keep spending money more than what we're saving then our future is in jeopardy because saving is a way to eradicate poverty and attain financial stability and the only way to achieve that is by saving. But if we put the present over the future by spending more than what we're saving then our chance of attaining financial wellness is not assured since we can't make the necessary sacrifice required.

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