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Having a savings account can contribute to a person’s overall financial well-being. Which one of the following is NOT a benefit of maintaining a savings account?

A. A savings account provides security in tough financial times
B. With a savings account, you can invest when the opportunity presents itself
C. Having a savings account gives individuals the ability to borrow money from members in the community
D. A savings account allows an individual to fulfill life long dreams

Answer :

PGAMUKAMA

Answer:

C. Having a savings account gives individuals the ability to borrow money from members in the community

Explanation:

Maintaining a savings account can be a fall-back position in the event of a financial emergency. Also, funds saved can be invested to generate more returns and enable an individual to fulfill life long dreams. However, having a savings account does not give individuals the ability to borrow money from members in the community. Therefore, options A, B and D are correct while option C is incorrect.

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The statement that is not a benefit of maintaining a savings account is: c: Having a savings account gives individuals the ability to borrow money from members in the community .

What is saving account?

A saving account is an account where money is deposited by user and it enables us to save  and withdraw our money when any need arise.

Having a Saving account is important as you can invest the money you save in account  when the opportunity arises.

Saving account does not gives us the ability to borrow money rather it enables you to save.

Inconclusion the statement that is not a benefit of maintaining a savings account is: c: Having a savings account gives individuals the ability to borrow money from members in the community .

Learn m ore about saving account here:https://brainly.com/question/25787382

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