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Which Is Better - Saving Or More Income? - Business - Nairaland

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Which Is Better - Saving Or More Income? by wealthmag: 6:14pm On Sep 08, 2012
My two great friends, Kevin and Harrison are both working in a high paying telecoms industry. Both are planning to get married.
Kevin saves a substantial part of his salary. This he believes will enable him faces whatever family challenges that may arise and also for his retirement.
While on the other hand, Harrison spend a substantial portion of his salary on self improvement and acquisition of new skill. His argument is, first, he cannot guarantee the security of his job, second, today's saving may not cope with tomorrow's inflation. Thus the need to acquire money making skill.
The problem is that each of them is claiming that his choice is better.
Re: Which Is Better - Saving Or More Income? by jhydebaba(m): 6:24pm On Sep 08, 2012
Only time will tell
Re: Which Is Better - Saving Or More Income? by serenegroup(m): 6:53pm On Sep 08, 2012
if either of them can invest in real estate and become a landlord ASAP then they can be sure of the future. but they should ensure their property is insure against fire disaster. investing money is the key saving money is not good. inflation will reduce the value of the cash in the bank.he should only save to buy income producing assets. thats my point doh
Re: Which Is Better - Saving Or More Income? by olubuffett: 8:34pm On Sep 08, 2012
Which one can do without pay for the next six months,if the unexpected happen? Its good to improve your skills, but never forget to invest your money.
Re: Which Is Better - Saving Or More Income? by icconium(m): 8:46pm On Sep 08, 2012
Wisdom is profitable to teach. When you about to engage in an event(short term) that would make you spend more and you feel it is the time to acquire more skill spending(investing a large percentage of your earning) then TIME WILL TELL.

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