Contest Week 38: Savings and Spendings

As we all know saving is a part of ones life and we humans cannot do without saving, greetings to all the members of this community and platform i am really happy to participate in this wonderful contest and thank God it's Friday [TGIF] and am going to try to be active in this contest

What is your definition for savings and Spending?

Saving is a very crucial term so my definition of saving goes this way:

Saving can be referred to as the process of storing, conserving and also preventing it from wastage and making sure that those items that where saved can be later brought out when needed be it natural resources, goods,money or other valuable asset like land and digital assets like crypto currency or can also be seen as digital money.

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Presently with the state of inflation, have you been able to practice the action of saving? If yes, tell us how and if no tell us why

My answer to this question is not, I haven't been able to practice the act of saving because:

Saving in this state of inflation is really hard due to the high cost of services and goods so it will be hard to save thus

Inflation can be defined as the rise in the price of goods and services and other financial commodities in a place especially a country, resulting in a fall in the value of money.

Inflation usually results in the fall in the value of money and affect saving in that the amount you will be able to make use of to get a commodity or services becomes higher than before and also your income rate may still remain the same so due to the high cost of goods and services and the fall in the value of money can reduce or terminate your usual amount of saving or stop the process of saying completely for you.

Sense the inflation came i have not been able to practice the action of saving.

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What is the place of steemit to your savings culture? Has steemit help in your spending or savings?

The place of steemit in my savings culture i will say it the number one cuz it's just like a place that I can invest and saving always. Steem is a great platform and has mainly helped me in saving so I will say steemit has been helping me in saving.

Thus far this year, is your financial target been achieved? How have you been going about it.

My financial target for this year has not been achieved because the year has just began and also due to the inflation, my financial target on steem for this year is to make sure I reach 250 steem power.

When it comes to what i have been doing about it, I have been trying this day to see to it that I post regularly, at least a day one post.

I will love to invite @perpetual, @xubair and @bonaventure24 to participate in this contest