What happens if you don't save or invest? - Marvin Germo

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What happens if you don’t save or invest?

By: Marvin Germo | April 6, 2021

Do you know what happens to those who don’t invest or save? Are you curious about your future without savings or investments? Let’s talk about what will happen in case you intentionally avoid saving or investing.

I’ve been reminding investors and aspiring investors to save and invest when their means permit them to do so. As early as your 20s, you should start saving already if you want to become financially free in the days to comes. Saving or investing should be your first priority. Regardless of how big your expenses are, you should always put your savings first.

You become stagnant

Without savings or investment, you become stagnant financially. You will not grow. You will stay forever in your position whether as an employee or not. Don’t forget that your savings and your investment will help you attain your financial goals. Without them, I doubt that your salary alone will be enough to pay off all your obligations and at the same time afford all your luxuries in life. Being financially stagnant is worse than losing some portions of your investments. It’s like not trying to do something about your finances at all. To have a Bitcoin Wallet click here. 

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You struggle when there’s a crisis

If you don’t have savings as your extra money, you will struggle when a crisis happens. Let’s take this pandemic as an example. Those who failed to save in the past years are now facing financial challenges brought by negative things that are currently happening in the country and its economy. What more if your employer removed you from your position? What more if become jobless? What money will you use to feed yourself or your family? Without savings, for sure, you will be forced to take out a loan, which is going to be added to your financial burden. To have a Bitcoin Wallet click here. 

You will leave your family struggling

When you don’t save, you are leaving your family with your financial burdens. Your insurance forms part of your savings and investment. If you can’t afford one, you should at least save a little amount that your family can use in case something bad happens to you. But, if you are not prioritizing your savings or investments, it’s like you are transferring your financial burden to them. Do your family a favor and save as early as now. Don’t let them struggle because you have been spending money carelessly.

See what happens when you don’t save? You and your family will struggle, that’s for sure. If you don’t want anything like this to happen in the future, start saving or investing as early as now. Start with a small amount and let it grow. Regularly top up your savings or investments. Don’t let your emotions prevail when you are saving or investing. Don’t let temptations get into you. Avoid spending for now and use cheaper alternatives. Instead of going out for a Starbucks coffee, enjoy a homemade iced coffee at home to satisfy your cravings.

Remember, your savings will save you in the future!

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