What is Saving? How is it done? What are the benefits?
What is Saving? How is it done? What are the benefits?
What is Saving? How is it done? What are the benefits?
This week’s interview was with the Young Businessman Metin Liçis on “Saving.”
Successful businessman MEtin Liçis began his words by stating that the importance of saving can be approached from many perspectives.
Firstly, he said that saving can be seen as a way for individuals to have a more comfortable economic situation in the future by restraining themselves and giving up instant pleasures. He emphasized that, as some psychologists predict, saving involves a similar process of willpower to achieve success by delaying instant pleasures with the principles put forward.
Liçis said that saving can help realize future plans more reliably, as well as increase financial security by avoiding excessive spending and debts.
What is Saving? How is it done? What are the benefits?
Thus, he added that saving for emergencies would provide financial security in the face of unexpected expenses.
On the other hand, he explained that saving would also benefit the environment, as excessive consumption would strain natural resources. He said that on one hand, controlling the budget by saving could indirectly contribute positively to the environment.
Ways to Save
One practical way to save is to create an emergency fund.
This fund is used to balance income loss in the face of sudden situations such as illness, accidents, or job loss. Keeping track of income and expenses accurately is also fundamental to saving.
This allows determining the saving potential by tracking monthly income and expenses.
Creating a retirement plan
Liçis also emphasized that this would be part of long-term savings, saying that saving in a retirement account would be another way to ensure future financial security.
In conclusion,
He ended his words by saying that while saving may seem like sacrificing today’s comfort, it would be an important step for financial security, planned budgeting, and sustainable consumption in the future.