Contest!!! Benefits of Saving Money

Saving is consider has the act of financial discipline which does not allows an individual to spend extravagantly, saving has been in existence over a long period, in fact some people use their savings to buy tangible asset such as land, car and house they have been dreaming for a long time.

Saving has a lot of advantage particularly when such person have good knowledge on what he or she want to use the money for, some people save to establish themself, that's to have good business of their own without rely on anybody.

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What do you think about saving money for future use?

As an individuals we must inculcate this good habit in order to achieve our aim and objective. Many people save for future purpose and later use the money to buy something they like. Most people that usually save in my own town are the business owners because majority of them rent the shop or mall they use to operate their business and at the end of day the business owners we now use the saving to pay landlord either annually or monthly depends on their agreement.

Some parent also use their saving to pay their children school fees, so it will not be hard for them when the school teacher request for their school fees. Some rich man also acquire land for the purpose to make good profit and sell it back when the land increase in value since land is a long time asset.

Do you also save money? What ways you have adopted to save money?

	My saving box

I have saving box I normally use to save money into, this happened on a regular basis because my mother used to tell us when we were young to save little amount of money we have gradually it would turn big. My saving box have a tining hole which I use to save money into, sometime I will just keep on contributing money without knowing any amount I have inside and the moment I dismantle it I realize the money is grow or increase.

Once I put money inside the saving box I would not have access to it any longer until I decide when to break it, this way of saving money assist me in so many way because is an opportunity for me to save and not to spend wasteful expensive.

What are different ways that was used to save money in past?

In the olden days people use different method of saving their money in order to avoid unnecessary spending.

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• Piggy bank

• Ajo

• Gold

• Bush

√ Piggybank: This method of saving is very common in Africa, people use to save their money as long as they want and later break it when the money is needed.

√ Ajo: Ajo is a yoruba name and is very common in Nigeria, this method of saving has been in existence over a long period of time. This happen among the market women who agree and came together to contribute amount of money either weekly or monthly basis and it also depend on how much you can contribute.

√ Gold: Gold is another way people use to save money, people purchase gold at lesser price and sell it once they noticed price of gold is increase in the market place.

√ Bush: Is another popular way of saving money in the past, people save their money in the bush when they no longer trust their family members. Some people still continue using this method because they belief is save and secure.

Saving money is very essential, in fact is really good for civil servant once they retire from their active service they may just use their saving to establish new business they can handle. I will like to invite @morgan76, @chukwu10 and @writer123 to participate in this contest.

Best regards
@akareen