Reasons for Saving

Started by Deleted user
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Deleted user

I started saving money right before the pandemic started. Luckily, my income has not been affected, so I opened a savings account and set it up for some money to be taken out of my checking account and put in savings. I have saved quite a bit so far. I am saving in order to have an emergency fund (I want to save 6 month's income). Also, I am taking my daughter for a surprise vacation on her birthday in 2022. What are your reasons for saving?

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Elena B.

My savings are currently being routed to my emergency fund. I also contribute to sinking funds or planned expenses which I have categories including annual memberships, gifts, technology, medical, vacation, car, and house.

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Jackie F.

I am saving for emergency fund in case I need it I am also saving for my niece and nephew so I can have a little fund set up for them.

Deleted user

I am saving for a new home for my family and to finish college !

LM

Latonya M.

I’ve been trying to save through the pandemic but my job laid me off it’s a small family business that couldn’t keep the door open through the pandemic. So I’ve been going through my saving and can’t seem to replace the money. So I’m hoping that I can get back on track in the new year.

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Sheryl I.

I am saving to grow my emergency fund to be 6-months my income also. I still have a ways to go, but I have been able to add to my savings account regularly to get there.

Deleted user

Hello! I am so proud of myself. I have been saving consistently for 3 weeks. I am holding myself accountable and saving for three important reasons. One, to readily have an emergency fund. Two, to ensure I can effectively maintain my basic needs. Three, to ensure I am financially comfortable. 💰

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Jackie F.

I saving for my niece and nephew they can do whatever they want with it when they turn 21 farther there education or start a business of there own or what ever it is there.

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Milissa P.

So I started putting money in savings. In other words I'm paying myself first. It's not easy saving on a fixed income, but I'm determined to buy a car within the next year

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Tamika E.

not to rely on credit cards as a replacement for income. Maybe a portion of my annual savings can be used towards outstanding and past due bills to relieve stress and prevent fees and gain interest in a savings account over time.

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Dayjanaya B.

Saving just to get the bigger things in life that I want!

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Sarah S.

I'm working on saving for an emergency fund since I've never had one. I'm about 1/10th of the way there, but it's a work-in-progress!

MM

Manuel M.

I'm saving to purchase a car. Any suggestions on how to save faster?

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