Savings identity
Okay kiddo, let's talk about savings identity!
Savings identity is just a fancy way of saying how much money you have saved up compared to how much money you make. For instance, if you make $50 a week from your allowance and you save $10 of that money, your savings identity is 20%.
Now imagine that you are an adult and you have a job. Let's say you make $500 a week and you save $100 of that money. Your savings identity would be 20% too!
Having a good savings identity is important because it means you are able to save money and not spend it all. This helps you be prepared in case of emergencies, like if your car breaks down or you lose your job.
So remember, having a good savings identity means saving some of the money you make instead of spending it all!
Savings identity is just a fancy way of saying how much money you have saved up compared to how much money you make. For instance, if you make $50 a week from your allowance and you save $10 of that money, your savings identity is 20%.
Now imagine that you are an adult and you have a job. Let's say you make $500 a week and you save $100 of that money. Your savings identity would be 20% too!
Having a good savings identity is important because it means you are able to save money and not spend it all. This helps you be prepared in case of emergencies, like if your car breaks down or you lose your job.
So remember, having a good savings identity means saving some of the money you make instead of spending it all!