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Saving Money Speech

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Introduction I. I would like to start my speech by telling all of you a story that I read from Forbes website, about a woman named Poppy Wyatt. A. She worked as a bank clerk for years until one day, she lost her job. She lost her source of income and unfortunately, Poppy did not have any family members or friends to support her financially. If she knew she will face this unexpected situation, she will definitely save some money when she was financially stable in the first place. But, now it is too late because she had to starve every day and walk from place to place looking for a new job as she did not have any single cent left in her bank account. II. I never thought that saving money is crucial until I came across this story. III. Even though …show more content…

However, a survey made by GoBankingRates.com among the Americans revealed that 14% of them saved 10 000 dollars or more, 5% of them saved 5000 dollars to 9999 dollars, 10% of them saved 1000 dollars to 4999 dollars, 13% of them saved less than 1000 dollars, 9% of them only saved the minimum balance requirement and almost half of them do not have a saving which is 21% of them do not have a saving account and 28% of them have no money saved. A. This indicates that not everyone knows the importance of saving money. (Transition: Let’s look more on why we need to save money) Body I. There are various reasons on why we need to save money. A. We need to save money to create an emergency fund. 1. It is vital to have an emergency fund to cover for unexpected events. a. You might have to repair your broken car or lose your job. 2. You don’t know what will happen to you in the future. 3. This is where emergency fund comes in handy so you can pay for the car repairmen or survive while looking for another new job because you have your savings. a. Based on Bankrate's chief financial analyst, Greg McBride suggested having at least six months' worth of expenses saved in an emergency fund. B. By saving money, it can improve our life. 1. Both of our financial and well-being will be improved when we save money because it avoids us from debts and stress by thinking about our financial

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