discussion 2.1

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  • After reading the leader from Steve Spender, write a response to answer his question.
  • Dear Saving Expert, My name is Steve Spender, and I am rather confused about the concept of saving. My friends tell me I should save money, but I do not understand why. What is savings, and why do I need to save money? I enjoy playing basketball, and I really need a new pair of shoes before basketball practice starts next week. With new shoes I could be so much faster on the court! I asked my grandma if I could have a new pair of shoes, and she told me that I would have to save money in order to buy a new pair. Why is this? I need the new shoes right away. Why can’t my grandma buy them for me now? I am also confused about how I should save my money. I have a pickle jar that I place my loose coins in every night, but my friends say this is not the best method for me to save money. My friends tell me I should consider saving my money at a depository institution. What is a depository institution? Why would saving my money at a depository institution be better than saving money in my pickle jar? The coins in my jar seem to be accumulating really slowly. At this rate I am never going to have enough money to purchase my basketball shoes! I don’t understand why this is. I only use the money in my pickle jar to buy a pack of gum every week.
  • How can I save money faster? I hope you can answer my questions, because I really need those new shoes!
    • 6 years ago
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    DexterMasters
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