FAQs: Answering Your Burning Questions

Q: Is saving money only for the wealthy?
A: Absolutely not. Saving money is a practice that benefits individuals across all income levels. It’s about making conscious decisions to secure your financial future.

Q: How much should I save each month?
A: A common guideline is the 50/30/20 rule, allocating 50% of your income to necessities, 30% to discretionary spending, and at least 20% to savings.

Q: Can’t I rely on credit in emergencies?
A: While credit can provide temporary relief, relying solely on credit in emergencies can lead to a cycle of debt. Having savings offers a more sustainable solution.