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Strategies To Prevent Savings depreciation 

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At a time like this when inflationary pressure is eroding the naira of its value, DARE OLAWIN suggests ways of keeping savings from being depreciated

It is a good idea to save a certain percentage of whatever individuals earn as income. No matter how little, saving money is a way to save oneself from unnecessary financial pressure when it arises. There are different reasons people save money. It may be for a particular objective like acquiring property or funding various programmes or events.

It may be to fund an investment or to run a charity, among others.

Money can also be saved for precautionary motives, that is, to take care of emergencies like health challenges, a fall in business, natural occurrences, like fire, flooding and other incidents. People also save money for speculative motives. According to the Economic Times, speculative motive is a tactic used by investors/traders to hold cash to make the best use of any investment opportunity that arises later on.

Maintaining a fair amount of liquidity in one’s portfolio is one of the top priorities for an investor. Generally, investors keep a fair amount of such cash with them to earn higher profits.


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