Why and how should I save money? (article) | Khan Academy (2024)

Learn the reasons and strategies for saving money.

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  • 107s.snoble

    a year agoPosted a year ago. Direct link to 107s.snoble's post “thanks for this informati...”

    thanks for this information! maybe I'll finally become a doctor and my dad will be proud of me!

    (38 votes)

    • johannesL

      a year agoPosted a year ago. Direct link to johannesL's post “I am sure your dad loves ...”

      Why and how should I save money? (article) | Khan Academy (4)

      Why and how should I save money? (article) | Khan Academy (5)

      I am sure your dad loves you and is proud of you. After all, you have become what he raised you to be. Even more importantly: Do what makes yourself proud and loved. Otherwise, you will be chasing something that is out of your control.
      The best of luck to you.

      (45 votes)

  • Wellmaster

    6 months agoPosted 6 months ago. Direct link to Wellmaster's post “Investing and watching my...”

    Investing and watching my money grow is too boring, even with Subway Surfers.

    I'm gonna buy a battleship, and start plundering other ships. Let's bring back the pirate times

    (20 votes)

    • David Alexander

      6 months agoPosted 6 months ago. Direct link to David Alexander's post “From which bank will you ...”

      Why and how should I save money? (article) | Khan Academy (9)

      Why and how should I save money? (article) | Khan Academy (10)

      From which bank will you borrow the funds to purchase the ship? Have you investigated the costs of buying and owning a ship, paying a crew, and providing ammunition for your piratical plans? Maybe you should start saving.

      (30 votes)

  • kenfurna

    a year agoPosted a year ago. Direct link to kenfurna's post “Why don't people save as ...”

    Why don't people save as much as they would like to, or what to? why is it so hard for so many people to get the concept of saving their money? How can I get better at saving money?

    (7 votes)

    • K.L.F

      a year agoPosted a year ago. Direct link to K.L.F's post “Well you can get better a...”

      Why and how should I save money? (article) | Khan Academy (14)

      Well you can get better at saving money by knowing exact what you need and want and then eliminate SOME things that you know you don’t need, then put that money that is extra towards saving. The reason it’s so hard for people to save money is because there is so many things you can get with certain amounts of money, so for example if someone has extra money from their job and they already know SO MANY THINGS THEY WANT, without self control and being educated right they will try and get everything they want that they can in that moment. Because of this cycle, people have a hard time saving money sometimes.

      (14 votes)

  • Isabell collins

    6 months agoPosted 6 months ago. Direct link to Isabell collins's post “My family used to have a ...”

    My family used to have a huge filtered water jug in which we all put spare change and small bills. If I were to propose we restart this jar, would it be an efficient way to save money for a 'rainy day'?

    (7 votes)

    • David Alexander

      6 months agoPosted 6 months ago. Direct link to David Alexander's post “No. That's not a rainy da...”

      No. That's not a rainy day fund, because it's built on "spare change". A rainy day fund (or emergency fund) is built on paying into it first, not last. I can imagine myself stopping at the gas station on the way home and filling up the tank, using the change from a $50 bill to get a candy bar before putting what was left back into my pocket to put into the jug. Can you see yourself doing something like that?

      (2 votes)

  • bailey

    a year agoPosted a year ago. Direct link to bailey's post “I would recommend maybe b...”

    I would recommend maybe buying things with cash and whatever your change is in coins left over put it in a safe place and let it grow. I did this when I was 16 years old to 18 years old. I only used cash. Obviously this won't work for online purchases, but everything else in person will work. Gas stations, grocery stores, movie theaters etc. Whatever my change was after, I just put the coins in a jar. Two years went by and I took it to the bank and I had over $200.

    (8 votes)

    • MikeMike

      8 months agoPosted 8 months ago. Direct link to MikeMike's post “Wat up Bailey? Do u still...”

      Wat up Bailey? Do u still save your change Now ?

      (0 votes)

  • angeliacerai95

    7 months agoPosted 7 months ago. Direct link to angeliacerai95's post “I like to save money So I...”

    I like to save money So I can get some cool stuff

    (6 votes)

    • C4LOwenZ

      7 months agoPosted 7 months ago. Direct link to C4LOwenZ's post “Same”

      Same

      (3 votes)

  • gehlot4rajveer

    8 months agoPosted 8 months ago. Direct link to gehlot4rajveer's post “how to be a millionaire”

    how to be a millionaire

    (3 votes)

    • David Alexander

      8 months agoPosted 8 months ago. Direct link to David Alexander's post “This is the wrong course ...”

      This is the wrong course for you.

      (2 votes)

  • SnowyRawrGamer

    5 months agoPosted 5 months ago. Direct link to SnowyRawrGamer's post “Would it be better to inv...”

    Would it be better to invest your money into a low-risk low reward instead of letting it sit in a savings account? If not then how much % of your savings should you invest?

    (3 votes)

    • David Alexander

      5 months agoPosted 5 months ago. Direct link to David Alexander's post “When you put money into a...”

      When you put money into a savings account, your deposit is insured through the Federal Deposit Insurance Corporation, so if something goes wrong with the bank, you don't lose either the principal OR the amount of interest it has earned.

      When you invest in something like a mutual fund, bonds or stocks, you might earn more, but if the fund, municipality or corporation into which you put your assets fails, you're totally out.

      So, whether you choose an account or an investment depends on your tolerance for risk.

      (2 votes)

  • 23simonsj

    9 months agoPosted 9 months ago. Direct link to 23simonsj's post “how much money should i s...”

    how much money should i save?

    (3 votes)

    • EmmaG

      4 months agoPosted 4 months ago. Direct link to EmmaG's post “but it in a saving accout”

      but it in a saving accout

      (1 vote)

  • bachernak

    7 months agoPosted 7 months ago. Direct link to bachernak's post “When using the 50/30/20 r...”

    When using the 50/30/20 rule, am I correct to assume that is based on net pay? Do people include their pre tax retirement savings in that calculation also, or is it 20% of your net pay in addition to any pre tax savings? My job takes 13% of our pre tax dollars towards our pension. I save another 11.5% in a post tax retirement account, and after that, just keeping up with bills is a struggle. It's not even possible to live in 50% of my pay. 42% of my paycheck goes to my mortgage... and prices have jumped a lot and if I rented something smaller, I would pay even more!

    (2 votes)

    • 313462

      7 months agoPosted 7 months ago. Direct link to 313462's post “You could always pick up ...”

      You could always pick up a side hustle to bring in more money. Try learning how to copywrite, or sell your skills on websites like Fiverr in order to increase net income.

      (3 votes)

Why and how should I save money? (article) | Khan Academy (2024)
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