Savings

Saving is the most basic and essential financial activity. It is advised to save at every stage of life. When choosing a suitable savings scheme, it is essential to know about different savings schemes and their benefits. Not all saving schemes would be suitable for all individuals. Saving money requires discipline and a certain level of commitment.

LEARNING OUTCOMES

At the end of the course, you will be able to understand:-

• What is Saving?
• Need for Saving.
• Different Saving Schemes.
• Tips for Saving

What is Saving?

Savings are part of income that is not spent on current monthly expenditures. Since an individual does not know what may happen in the future, money should be saved to pay for unexpected events or emergencies.