Financial savings a boost for people

Hyderabad Dec 17: Currently people suffer during a financial emergency because they don t focus on savings.Many experts suggest the benefits of savings.Emergency healthcareSavings of people would help them when needed for emergency medical care . The liquid cash may help but investing some amount in medical insurance premium is also a saving and it would help for better treatmentUnforeseen circumstancesThe savings of people would help in unforeseen circumstances such as a job loss or payments delayed in business etc would be a much relief.Achievement of goalsSavings in small amounts for would help in achieving goals, many people think loan given by banks would be sufficient but this may not be true all the times and savings would help to repay the EMI during emergency situations.Peaceful life after retirementThe savings from a young age would earn higher interest rate compared to later ages as the return would higher for a higher time period and people can live a respectable life after retirement.