1. Why Saving is Important
​Saving helps you build a cushion for the future. Imagine wanting a new phone but you do not have enough money. If you save a bit each month, you can buy that phone without going into debt. Saving gives you control over your money and future.
2. Why Spending is Important
Spending is how you enjoy the things you have worked for. It’s also necessary to buy things like food, clothes, and entertainment. But it’s important to make sure you’re spending wisely so you don’t run out of money when you need it most.
3. How to Save and Spend Wisely
3.1 Track your spending: Know where your money is going. Are you spending
too much on things like snacks or apps?
3.2 Set savings goals: Decide what you are saving for. Is it a new phone, a trip,
or just an emergency fund?
3.3 Be mindful of wants vs. needs: Before buying something, ask yourself: "Do I
really need this, or do I just want it?"
4. Tips for Saving and Spending
4.1 Save first, then spend: When you get money, save a percentage before you
spend anything.
4.2 Avoid impulse buys: If you do not need something right away, wait before
you buy it.
4.3 Budget your money: Make sure to plan how much you will save and how
much you can spend each month.
5. The Balance Between Saving and
Spending
It’s all about balance. You don’t want to save all your money and miss out on fun stuff, but you also don’t want to spend everything and have nothing left for the future. The key is to manage both so you can enjoy life now and be ready for what comes next.