What Are The Disadvantages Of Saving Money?

[Bisolami]

I am sure that we all know that everything that has an advantage will surely have a disadvantage. I know that you will be surprised when I see that some disadvantages come with saving money.

I think one of the major disadvantages that come with saving money and impulsive buying. Well, it depends on the person but I have noticed that a lot of people love to buy things impulsively whenever they know that they have some money in their bank account and I feel like it is not supposed to be so. When I say that people buy things impulsively, they mostly buy things that they end up realizing that they do not need but simply because they just feel like buying something at that moment they buy things they don't need and they will waste the money that they are saved so what is the essence of saving money?

Another disadvantage of saving money is death or robbery. Imagine that you save money for the whole of a year and at the end of the day some people come to rob you of your money or the individual dies so what is the essence of saving that money when the only thing that could happen at the end is that they will rob the individual of his money.

How do you see this?

 

[saoussen5765]

If you save money when you need to spend it becomes something bad especially if there are essential expenses like food or rental or health care and you save money and not spending on these essential needs.

 

[niche]

The disadvantage of saving money is that in some countries, a lot of greedy frauds, especially young people are extremely aggressive in stealing the money of anyone who has saved some money. So though they have never interacted with the person, they will file fake cases to extort money, and in some case, the large internet and tech companies will also support these liars and frauds. Additionally powerful politicians and officials often slander those who have some money saved, so that they can cheat, exploit, rob them easily for the rest of their life or subject them to identity theft

 

[Knowlopedia]

One of the main disadvantages of saving money is that it can be difficult to access in an emergency. You may need to pay a fee to access the money early or there may be a penalty for withdrawing the funds before a certain date. Additionally, you may lose out on potential earnings if you save too much money and don't invest it. If the rate of inflation is higher than the rate of interest on your savings account, then you will be losing out on the potential growth of your money. Finally, saving money can be difficult to maintain over time, as unexpected expenses can quickly cut into your savings if you aren't disciplined about putting away money.

 

[Augusta]

when it comes to saving money I think the advantages outweigh the disadvantages because we all know it has been a good thing saving money it can be very embarrassing to have an urgent need for money or you cannot go through it because you don't have it and you don't have any savings that you can fall back on so it can be very disturbing

But savings also have its own disadvantage like you rightly pointed out you can savd money but unfortunately get robbed in your house and the whole essence of saving the money will be defeated.

 

[Kunde]

I never for once like the idea of saving money. I am not saying that it is not good to save money or I don't save money, but saving money for a long term is what I am against.

Saving our money idea in bank or other source, will not make our money grow and who knows what the price of commodities might be when we decided to use the money. The prices might be increased, making the value of the money will saved to also decrease.
Instead of just saving our money, we can use them to invest in some short term Investment and receive profit