Why consumers need to save?

Consumers need to save to build financial security and prepare for unexpected expenses, such as medical emergencies or job loss. Saving also enables individuals to make significant purchases, like a home or education, without relying on debt. Additionally, having savings fosters a sense of financial independence and peace of mind, allowing consumers to plan for future goals and retirement. Ultimately, saving helps create a buffer against economic uncertainties and promotes long-term financial well-being.