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We save by setting aside a portion (5-20%) of our income every month for various purposes, such as emergency fund reserves, for short-term goals such as buying gadgets, clothes, shoes, etc. There are also long-term goals such as retirement funds, there are even people who don't have a savings goal so they just accumulate money in a savings account. The main goal of saving is to practice thrift habits and discipline so that your financial condition will be stable and secure.
The main purpose of savings is to set aside a portion of income to be saved as a reserve fund for the future, such as to face unexpected needs (emergency funds), achieve short-term financial goals (for example buying a gadget or a holiday), or long-term goals (for example children's education or retirement). Apart from that, saving also trains discipline and makes financial conditions more secure and stable.
The best way to save is to automatically debit directly from the receipt account to the savings account when income is received, or do it manually by making a deposit to the bank or via an ATM machine.
The main purpose of savings is to set aside a portion of income to be saved as a reserve fund for the future, such as to face unexpected needs (emergency funds), achieve short-term financial goals (for example buying a gadget or a holiday), or long-term goals (for example children's education or retirement). Apart from that, saving also trains discipline and makes financial conditions more secure and stable.
The best way to save is to automatically debit directly from the receipt account to the savings account when income is received, or do it manually by making a deposit to the bank or via an ATM machine.
