Objectiv e To learn the basic concepts and tips on savings. What is Savings? Savings is . . . income not spent, or deferred consumption.
Methods of Savings include putting money aside in
● Deposit Account ● Pension Account ● Fund ● Cash
Savings also involves reducing expenditures.
How important Saving is? There are simple ways to save money 1. Record your expenses 2. Include savings in your budget 3. Find ways to cut spending 4. Determine your financial priorities 5. Set saving goals 1 Record your expenses 2 Include savings in your budget 3 Find a way to cut spending 4 Determine your Financial priorities 5 Set Saving Goals "Savings provide a financial backstop for life's uncertainties and 01 02