Final answer:
Saving money is crucial for emergencies, investing, and making larger purchases.
Explanation:
Saving money is essential for various reasons:
- Emergency Fund: Saving money helps to create a financial safety net for unexpected expenses like medical bills or car repairs.
- Investing: By saving, you can invest your money in assets such as stocks or mutual funds to generate returns over time.
- Larger Purchases: Saving money enables you to make significant purchases like a house or a car without relying solely on credit.
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