Question

Think of something you want. What are some ways you can save for it? What suggestions do you have for friends and classmates for being a better saver?

Answer 1

I want to purchase laptop worth $1000 for myself. For this, I will keep a track of my expenses by recording them on daily basis and would analyze the amount that I have been spending on unnecessary things. I would then, prepare the budget for savings so that I could save some amount every week. I will also cut down my spending and would avoid extravagant expenses. By taking these small steps, I will be able to save the required money.

I would suggest my friends and classmates to inculcate the habit of savings by setting specific goals for it. They should avoid being spendthrift and should utilize the money rationally. Moreover, they can keep a track of their expenses to become aware of their spending habits. They can also put some of their money in bank accounts and should maintain specific funds.