“Budgeting is the first step in Money management.” In this context

1.	“Budgeting is the first step in Money management.” In this context explain the Importance of saving deposits.
Answer» Importance of saving deposits : The main and useful importances of saving deposits are given below : • It becomes a source of income. • Such deposits are important during an emergency such as natural calamity, loss. • These are also useful for marriage, child education. • Also used in the future. • Reduced insecurity especially when you get old.

“Budgeting is the first step in Money management.” In this context explain the Importance of saving deposits.

Answer»

Importance of saving deposits :

The main and useful importances of saving deposits are given below :

• It becomes a source of income.

• Such deposits are important during an emergency such as natural calamity, loss.

• These are also useful for marriage, child education.

• Also used in the future.

• Reduced insecurity especially when you get old.