Types of saving ? best way to save money !

-


Saving is everyone desire . everybody wants to save money for future security but if you know the best way of saving then you can save lots of money with high interest rate. 

Saving depends on your future goals , what is your plan in future? 

There are three types of saving .

1. Short term savings

2. Long term savings

3. Mid  term savings

                                                   


 Let’s discuss each of the following.                                            

Short term saving

Short term goals are your immediate expanses. Although timelines vary, these are the things you will spend money on generally within a few months or years.

Example:-


1.     Emergency fund
2.     Rent, insurance or student loans.
3.     Credit card debt payments.
4.     Personal goods
5.     Travel
6.     Wedding
7.     Minor repair and home improvements

Long term savings

Long term goals are usually your big picture costs. These goals may take several years or even decades to reach. Your distant goals typically involve more money and regular attention then short term goals.

Example:-

1.     Retirement fund

2.     Starting a business

3.     Saving for home

4.     Child’s college fee

5.     Marriage etc.

Mid term savings

It is the gray area between short term and long term. It tend to take a few years.

Example:-

1.     Buying a car

2.     Saving for down payment

                                        

Green area represent mid term goals

If  this is useful then please keep support and share with your friends and family.

  To know basics about saving read another article click on link given below. 

 https://csviewers.blogspot.com/2022/07/how-to-earn-money-how-to-make-money.html



Comments

Post a Comment

Popular posts from this blog

INTRODUCTION OF DBMS

-
What is Database :- The database is a collection of inter-related data which is used to retrieve, insert and delete the data efficiently. It is also used to organize the data in the form of a table, schema, views, and reports, etc. For example: The college Database organizes the data about the admin, staff, students and faculty etc. Using the database, you can easily retrieve, insert, and delete the information. DBMS (Database Management System):- Database management system is a software which is used to manage the database. For example: MySQL, Oracle, etc are a very popular commercial database which is used in different applications.DBMS provides an interface to perform various operations like database creation, storing data in it, updating data, creating a table in the database and a lot more.It provides protection and security to the database. In the case of multiple users, it also maintains data consistency. DBMS allows users the following tasks:- Data Definition: I
Read more

Introduction of Digital computer

-
Image
INTRODUCTION Digital computer concept:- 1. Digital computers are designed to store, process and communicate information in digital form. 2. Digital computer is any of a class of digital devices capable of solving problems by processing information in discrete form. 3. It is used for processing data represented by discrete, localized physica signals, as the presence or electic current. 4.The main three components of digital computer:- >input:- The user gives a set of input data through input devices. >Processing :- The input data is processed with the help of CPU by well defined and finite sequence of step. >Output : - Some data available from the processing step are output to the user. TYPE OF DIGITAL COMPUTER :- 1.Microcomputer/Desktop computer 2.Minicomputer 3.Mainframe computer 4.Supercomputers Microcomputer :- 1.Microcomputer is also called a personal computer or desktop computer. 2.It includes a microprocessor, memory, and
Read more

DEVELOPED, UNDEVELOPED AND DEVELOPING ECONOMIES || LIST, GDP, UNEMPLOYMENT

-
Image
There are 195 countries in the  world, some are developed countries, some are undeveloped , and some are underdeveloped or developing countries . The distinction between them is a different process but we can differentiate based on conditions like economic growth , GDP, employment rate , population, etc. Let's understand how we can say whether the country is developed. ADVANCE OR DEVELOPED ECONOMIES An advanced or developed economy is one, which carries on production with a large amount of machinery and advanced techniques. An advanced economy employs its human and other resources to the maximum extent possible.  The productive efficiency of a developed economy is of a very high order, and the per capita income is also high. Consequently, people in these countries enjoy high standards of living.  England, the U.S.A, France, west Germany, etc, are advanced economies. These economies are inhabited by over one-fourth of the entire population of the world. ADVANCED ECONOMY Advanced Ec
Read more