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    The Importance of Savings

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    Kenza Hazzaz
    Saving money provides several important benefits. It creates a buffer for unexpected expenses, allows people to afford annual costs and important events, and prepares individuals for retirement. There are different types of savings accounts suited to various timelines, like emergency, short-term, mid-term, and long-term savings. Maintaining savings reduces stress, provides more financial flexibility, and acts as an "engine of progress." While saving can be difficult for some living paycheck to paycheck or in debt, finding ways to set aside even small amounts is important for future financial stability and security.

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    © All Rights Reserved
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    The Importance of Savings

    Uploaded by

    Kenza Hazzaz
    1K views12 pages
    Saving money provides several important benefits. It creates a buffer for unexpected expenses, allows people to afford annual costs and important events, and prepares individuals for retirement. There are different types of savings accounts suited to various timelines, like emergency, short-term, mid-term, and long-term savings. Maintaining savings reduces stress, provides more financial flexibility, and acts as an "engine of progress." While saving can be difficult for some living paycheck to paycheck or in debt, finding ways to set aside even small amounts is important for future financial stability and security.

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    savings

    Original Title

    The importance of savings (2)

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    Saving money provides several important benefits. It creates a buffer for unexpected expenses, allows people to afford annual costs and important events, and prepares individuals for retirement. There are different types of savings accounts suited to various timelines, like emergency, short-term, mid-term, and long-term savings. Maintaining savings reduces stress, provides more financial flexibility, and acts as an "engine of progress." While saving can be difficult for some living paycheck to paycheck or in debt, finding ways to set aside even small amounts is important for future financial stability and security.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1K views12 pages

    The Importance of Savings

    Uploaded by

    Kenza Hazzaz
    Saving money provides several important benefits. It creates a buffer for unexpected expenses, allows people to afford annual costs and important events, and prepares individuals for retirement. There are different types of savings accounts suited to various timelines, like emergency, short-term, mid-term, and long-term savings. Maintaining savings reduces stress, provides more financial flexibility, and acts as an "engine of progress." While saving can be difficult for some living paycheck to paycheck or in debt, finding ways to set aside even small amounts is important for future financial stability and security.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 12

    The importance

    of savings

    By: Supervised by :
    MOHAMMED BOUKHRIS Mr. Sami SALGHITI
    RHADA HARIZ
    ISMAIL IDRISSI
    Plan :
    Definition of ‘Savings’
    Causes of savings
    Types of savings
    Advantages of savings
    The importance of savings
    conclusion
    Definition of savings :

    Saving is income not spent,
    or deferred consumption.

    Saving is a great way of preparing for


    unexpected costs, annual bills and
    important events - such as Christmas,
    birthdays, car repairs, servicing and
    insurance.
    Causes of savings

     Save for emergency funds


     Save for retirement
     Save for your education
     Save for luxury items
    Types of savings
    TYPE OF  PURPOSE PLACE 
    SAVINGS
    If Emergencies. Bank or credit union savings or money
    market account, or a money market
    savings mutual fund.
    When Intermittent expenses and Checking account for items you spend
    savings bills. Also for goals to be money on every month or two. Bank or
    (near accomplished within five credit union savings or money market
    years. account for less frequent bills.
    term)

    (mid Replacement of vehicles, Money market mutual fund, CD or


    term) home roof, water heater balanced mutual fund.
    and so on.
    (long Goals to be accomplished For the self-employed.
    term) more than ten years into For college funding.
    the future.
    Why Dreams tied to true Depends on length of time for the
    savings desires. goal. For goals to be accomplished
    within less than five years, a
    money market mutual fund is a
    good option. For longer term
    goals, stock-based index or life-
    cycle funds are good options.
    Advantages of savings

     More options
     Avoid emergency events
     Less stress
     Different resources
    The importance of savings :

    • In case of something bad happens


    • There are needs
    of course :
     Saving isn't possible for everyone:
    repaying debts may take priority and
    it's only possible to save when you
    have 'spare' money. When you're
    living to a strict budget there might
    be little or no spare money to set
    aside.
     If you have debts, there are
    arguments for and against saving
    (rather than putting everything you
    can towards your debts).
    Conclusion :

    savings are an engine


    of progress
    The End

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