Saving is the best way to invest in the future

As of 2018, in Bangladesh, the gross domestic savings rate—as a share of the GDP—is 22.8 percent (World Bank national accounts data). While the trend over the years has been rising, it is still imperative to aim higher. Savings are arguably the best method for enhancing investment in sustainable economic growth, and so it is extremely important to keep track of the savings rate. This also applies to our individual lives relating to our personal finances.  

Regardless of age, we will all have to retire at some point. Thus strategising income-spending and developing sound retirement plans are crucial to make the most out of our hard-earned money. Something will always come up and compete for our limited resources, so saving for the future should be a top priority for us all. Teaching children the need to save, at an early age, is also essential to ensure they grow up to understand the role and value of money in their lives, and learn that saving is the best way to invest in the future.