SAVINGS

The unused or unspent portion of the income of an individual, business or government is known as

All of the following are reasons why individuals save EXCEPT

• To invest for the future
• To spend unnecessarily
• To buy unnecessary items
• To donate to charity

Which of the following factors affect an individual's ability to save ?

• size of disposable income

• the individuals employment status

• the trend of the prices for basic items

• All of the above

How can regular savings positively impact an individual's financial well-being?

Billy saves a small portion of his income regularly. Saving regularly will allow Billy to

• build financial security and achieve financial goals
• spend more on unnecessary items
• increase his debt
• ignore his savings goals

The individual who saves regularly will benefit from all of the following except

• developing competence in managing their finances

• being able to retire early

• better satisfy his/her future needs

• inability to pay for unforeseen expenses