Savings refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period. Savings, represents a net surplus of funds for an individual after all expenses and obligations have been paid.
If one is unable to maintain savings, they may be said to be living #paycheck to paycheck. If such a person experiences an emergency, there is often not enough money saved up to live on and they may risk falling into debt or bankruptcy.
Current Scenario(India) - Less than 20% of Indian Youth and #Income #earning person, do #Savings or they know the concept of savings.
After Bachelor's most of our generation don't save for any future goal when they start getting #Salary. But, it's not their Fault. They never in there life got the real meaning and definition of saving. No one told them the applications of saving - assets, liability, risk management (except commerce student). Even Commerce students don't know the application. They know their formulas but why nobody taught them how to apply those formulas for themselves.
If they knew, then how statistics shows other wise?
Salary - 80% of Indian Employee run out salary before the month ends. Only 13% of workforce able to save!
In result, MBA, DR. Engineer and every job profile in India not able to manage there finance and making default on there #Payment .
What we Can do - We at STOCKHORO are trying to spread a brief purpose of Savings, Assets and Liabilities. While, trying to make understanding of it our efforts are to clear the Psychology of Money for them.
After knowing the Purpose of Money and Working of Money in their life. We enlighten them by - How money works for Government, Banks and Companies.
- How many Financial Instruments an Individual have?
- What is the Purpose of every Financial Instrument?
If these question excites you, let us know.
Instagram - @stockhoro
Always remember what Tom Hopkins said "You are your greatest asset. Put your time, effort and money into training, grooming, and encouraging your greatest asset".
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