What is Saving?
What is saving?
Saving means putting aside some of your money to use later instead of spending it right away.
🐝 People save money to reach goals, prepare for the future, or handle unexpected costs.
Why do people save money?
People save for many different reasons, including:
Earning Money
Before we save, we usually have to earn.
Earning means getting money in exchange for doing something — like helping at home, completing tasks, or receiving an allowance. When we earn, we learn that money has value and that we have choices in how we use it.
Before you start saving
It helps to understand three simple ideas:
● Money is limited:
We don’t have endless money, so we need to make choices. If we spend it all right away, we might not have enough for something important later. That’s why it’s helpful to pause and think before we buy — to choose what matters most.
● Needs vs. wants:
A need is something you must have to live well, like food, clothes, or school supplies. A want is something fun or nice to have, like toys, snacks, or games. Knowing the difference helps us decide what to buy now, and what to save for later.
● Goals:
A goal is something you’re working toward — it could be a skateboard, a school trip, or saving for a future dream. When you have a goal, it’s easier to save because you know exactly why you're keeping that money. Goals give your savings a purpose.
