Savings – Foundation for Creating Wealth
Savings Meaning: (Source: http://www.deposits.org/dictionary/term/savings/) In deposit terminology, the term Savings refers to money set aside for the purpose of future use. Savings generally represent only one part of an individual’s assets and, unlike investments, they usually have a minimal exposure to risk. Based on the 2012 Family Income and Expenditure Survey of NSO: The poor earns 69,000Php annual income and their expenses are 73,000Php. They don’t have savings and even incur 4,000Php debt. The rich earns 715,000Php annual income but…