MONEY MINDED
MONEY SAVING:
Introduction:
Welcome friends!. In "Money Saving" post you are going to learn about Savings definition, Saving benefit, Saving account, Saving story, Money Saving Tips.
I have explained in detail for your better understandings. I ensure this post will be useful to you.
Savings Definition:
" SAVE TODAY, SPEND LATER "
* Saving means to save or protect something, which is essential for future
use. Saving money is the base for financial developments.
* Saving is a proven path for financial wellness and also for future financial developments.
* Saving money is one of the pillars of financial literacy. Savings money is needed for everyone to improve their financial status.
* Saving means to save or protect something, which is essential for future
use. Saving money is the base for financial developments.
* Saving is a proven path for financial wellness and also for future financial developments.
* Saving money is one of the pillars of financial literacy. Savings money is needed for everyone to improve their financial status.
* Savings are required to escape from many financial hitting problems like unemployment, currency inflation etc... .
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| SAVINGS |
Savings Account:
* Savings Account is a interest bearing deposit account held at bank or any other financial institutions.
* In Savings Account, you should deposit a amount through which you can gain a interest amount. Interest percentage of savings differs for different banks.
* The disadvantages of saving account are only limited transactions are allowed, interest rate is low when compared to fixed deposit.
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| SAVING ACCOUNT |
Savings Benefit:
* Savings has a benefits of removing your fear in your job insecurity, economic crisis, price hike etc.. .
* Savings gives you a full freedom for financial developments. Through your saving money, you can run your retired life.
* Savings gives you a full freedom for financial developments. Through your saving money, you can run your retired life.
* Savings month income and depositing in banks for interest can make a person to become rich.
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| SAVING BENEFIT |
Saving Story:
The need for saving our money can be exclusively explained by a story.
SAVING STORY : Let we consider two persons JACK and MARK they both where employed in the same company. Jack was a manger of the company with a monthly salary of 50,000 dollars. Mark was an worker of the company with a monthly salary of 20,000 dollars.
TWIST IN STORY : By comparing jack and mark you may tell jack is a richest person. But there is a twist in a story, the twist is jack spends his whole 50,000 dollars. But mark saves 5,000 dollars every month. Now the richest person is MARK, even though he has less income.
STORY MORAL : Saving can become a person rich. Even though the person has less income.
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| SAVING MAKES YOU RICH |
Money Saving Tips:
The method to save your income is,
* First spend 50% of your income for essential needs like foods, education, medicine and clothing.
* Then spend 30% of your income for wants like entertainment, sports and transport.
* Then spend your 20% income for saving.
* First spend 50% of your income for essential needs like foods, education, medicine and clothing.
* Then spend 30% of your income for wants like entertainment, sports and transport.
* Then spend your 20% income for saving.
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| MONEY SAVING TIPS |
Conclusion:
These are basics of money saving.. You should develop your saving ability by following money saving tips.
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