Saving is the action of saving (saving money for the future, reserving part of the ordinary expense or avoiding a major expense or consumption) and the thing that is saved. According to DigoPaul, saving, therefore, is the difference between disposable income and expenditure incurred.
For example: “If we want to buy a car, we have to save about three hundred dollars a month for two years”, “My grandfather always said that saving is the basis of fortune”, “When I am lucky in business, I dedicate myself to Saving: in this way, I am prepared for the future in case the situation worsens “, ” With government policies, saving is a species in extinction “.
If a man earns a thousand pesos a month and spends eight hundred in the same period, his savings will be two hundred pesos. Said money can be kept as a safeguard against unforeseen expenses that may occur in the future or in order to specify a greater expense (which requires more than a month of savings).
It is very important to establish that there is what is known as a savings bank. Basically this is an establishment whose clear objective is to proceed to save what are the savings of ordinary citizens who request it, their customers, while giving them an interest in it.
At any time, and especially in times of crisis, it is necessary to save, which is also called “tightening the belt.” Therefore, a series of tips that are of great interest must be followed, such as the following:
• It is necessary to avoid compulsive shopping. You just have to get what you really need.
• Supermarket prices must be thoroughly analyzed to see which one offers the best products and discounts.
• You must also keep in mind the second-hand market as it offers very interesting items.
• When buying clothes, you can choose wholesale companies, which offer more affordable prices.
• Reduce unnecessary expenses per month.
• Get a mobile phone rate that is cheaper and also meets your needs.
These are some of the tips that serve to save money, something that can also be done by carrying out what is energy saving, that is, a reduction in the electric bill. This can be decreased by following recommendations like these:
• Turn off those devices that are turned on and are not being used.
• Do not put household appliances, such as dishwashers and washing machines, at half load.
• Bet on having the air conditioning and heating at the recommended temperatures.
Savings can be classified in various ways. The private saving is that obtained by companies that do not belong to the State and families in general. In the first case, it is the company’s profit minus dividends and can be used for investments. In the family case, saving is the family’s income minus consumption expenses.
Public saving, on the other hand, is carried out by the State. The income is obtained through taxes, state companies, etc., while the expense is made in hospitals, schools, highways and public works in general. If the State saves, we are in a situation of surplus (income exceeds expenses); otherwise, there is talk of a deficit (income is insufficient to meet public spending).