• There is preventive savings that are created to cope with sudden and emergency conditions
• There is savings created to finance personal projects, such as the purchase of furniture or services (travel, entertainment, parties, etc.)
• There is savings for investment for retirement or to establish ownership.
The role of savings in economic activity
Savings are created to meet future and immediate needs and there are several reasons to save from them.
• There is preventive savings that are created to cope with sudden and emergency conditions
• There is savings created to finance personal projects, such as the purchase of furniture or services (travel, entertainment, parties, etc.)
• There is savings for investment for retirement or to establish ownership.
Some ways you will help you save:
1- Focus on the future.
It’s very easy to spend money to get something we love but at the end of the day, you’ll end up spending everything no matter how good your income is. Turn your focus to the future instead of just getting gratification for the time being
Part of the income is allocated to savings
2- Don’t save the rest after spending, but spend the rest after saving
Make the most of sales and deals
3- Get more value by finding better deals and discounts
4- Don’t buy unnecessary things to create an impression on people only
with
With appreciation,
the awareness department.