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

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.

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

Explanation:

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