What Are Savings

Saving is the result of spending less than you earn. No matter what you earn there is a potential for you to save if you are disciplined and have control over your spending habits.

• Income greater than expenses = Savings
  
• Income equals expenses = Break Even
  
• Expenses greater than income = Depletion of savings or accumulation of debt

The only way for you to truly know if you have the potential to save or sit at break even or fall into debt is to complete a comprehensive budget into which you can record all of your income and expenses. To learn all about budgeting please visit our How to Budget section of our website.

Saving is one benefit of budgeting. Learn more about additional Benefits of Budgeting.

Why not have a bit of fun. Take our Have you Got What it Takes to Save Quiz. This quiz allows you to select what you would do in different scenarios regarding your ability to budget and make a choice regarding spending your money.