Savings is the portion of income not spend ed on current expenditure. Because a person does not know what will happen in future, money should be saved to pay for unexpected events or emergencies
As a human being your supposed to know how to save your money. Savings start first and spending follows. This means that when you receive your income you need to put aside your savings, then whats remain will be used as your expenditures.
The reasons we are advised to save our money is because of;
- unexpected events
- emergency funds
- retirement
- vocations and other luxury items
- sinking funds
- and some times for education issues
- BACHUBIRA ZAITUNI
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