Speech outline on why you should start a savings account Essay

Speech outline on why you should start a savings account - Essay Example Statistics: statistics shows that people have concentrated in spending their finances than saving.76% of the population which indicates that they spend their money in meeting household requirements. The data from EBRI indicate that in 2013, the savings of 51 percent of workers aged 45-54 were less than $25000. Evidence: An individual will be relieved if they have funds under a savings plan which will meet the above contingencies. It is also significant that an efficient insurance cover is taken because it will assist in the management of the unexpected financial distress. Evidence: The second reason that compels for creation of a savings account is contributing towards retirement. This involves saving for the future and earning interest that will cater for forthcoming expenses.â€Å"Is it devastating to retire without an effective pension plan?† Evidence: They benefit also because they are entitled to affordable prices and interest rates. Education is enhanced through setting aside money that will be used for further studies. This is important in the attainment of master’s and doctorate degrees and for educating children (Gillen & Levinson 200). Creation of a savings account is also significant in the process of investment protection. This is because it protects the business’s asset portfolio since these accounts caters for unexpected expenses such as induced sale of property. This should encourage investors to avoid investing their money in speculative assets in the volatile market. Individuals with savings in financial institutions are advantaged since they have the potential to venture into vast business opportunities. This is beneficial, therefore, because amassing wealth is important in the attainment of financial objectives (Claxton 87). Restating preview of points: This is because several citizens are affected by the dynamic change in the level of the economy; emergencies and retirement. This is