Savings is a concept of keeping some money aside for plans or unforeseen circumstances out of the daily/weekly wages or your monthly income. It is a concept that almost everyone knows but not everyone practices.
One of the best ways to take charge of your financial life is to have healthy savings plans/accounts. There is a whole of stress and fear that comes with the knowledge that you are a few expenses away from falling into a financial crisis, there are things that could happen, you could fall sick, you could lose your job, your car could break down, and some other financial emergencies. Savings (money to fall back on during an emergency) give you some level of security and peace of mind.
SEED MONEY. Opportunities fly around us now and then, a lot of people have missed out on life-changing opportunities because when the opportunity came calling there was no financial pool to draw from. having savings helps in opportunity grab. Savings give that muscle to secure that High yielding investment opportunity.
HOW CAN YOU START SAVING? You can have a plan and attach your plan to a goal. A goal like having some amount of money by a certain period, assuming that you are planning to have $20,000, and your target period is 12 months. $20000 divided by 12 is $1666.67, the average amount to set aside every month if the goal must be accomplished within the specified period must not be less than $1666.67.
Thank you, friends.
Hello, @chigozieonah
This is @fionasfavourites from the @ocd (Original Content Decentralized) curation team. We noticed you shared your first post here on Hive - congratulations and welcome! It would also be awesome if you could do an introduction post, so our community can get to know you better. For an example of what an intro post is like, you can check out this one by my friend & curation team member - Keeping Up With the Buzz – My Introduction to the Hive Community.
Speaking of community, we have many different ones here on the blockchain, devoted to all kinds of interests. Here's a link so you can check them all out – Hive Communities.
Also since you're new, you may run into an RC (Resource Credits) error when trying to comment/post because you don't yet have enough Hive in your account yet. For assistance with a temporary delegation to get you started, be sure to check out the Gift Giver site.
Also, as this the hive can be quite confusing, the newly launched Newbies Guide is a growing repository of useful – easy to understand – posts about how the Hive ecosystem works.
For now, @lovesniper will follow your account and we are looking forward to seeing your intro post. Also, you are welcome to tag me (@fionasfavourites) and please mention @lovesniper in your intro post in order for us to be notified, so we can consider your post for OCD curation. Feel free to hop into the OCD Discord server if you have any questions!