The Money Talk

Budgeting: preparing an estimate of income and expenditure for a particular period of time.

Savings: money remaining post the reduction of money for expenditure, from earnings.

By making the decision to save money, you are putting yourself in a better environment where you are prepared for future challenges which may need your money. It is hard to predict the future so avoid the risk and plan for the future.
you can have savings accounts for safekeeping.
savings can help you to settle your future debts. Therefore, by saving some money, you are showing your wisdom and your level of preparedness for future obstacles that will require your money as the solution.

AN EXAMPLE OF A BUDGET: SPEND 50% OF YOUR MONEY, GIVE 15% TO THE UNDERPREVILADGED, SAVE 10% and invest 25%

Make sure you allocate majority of your money to where it is needed the most.
invest some of your earnings in order for you to become more financially stable and less reliant on your earnings. You can try real estate. Buy property and sell it at a higher price after developing the property or you can choose to become a landlord or to allow people to hire your property. You can also start small by growing crops and fruit trees in your backyard and then sell fresh fruits and vegetables to your neighbors or more people in your area. Of cause, you have to do this in accordance to the health regulations in your area or in your country in general, but it will be profitable in the near future. Who knows maybe you will eventually become a commercial farmer. Start small and think big👍
If you posses a lot of money on you, in a room or in your piggy bank; we suggest that you deposit it in a bank (if you don't have a savings account, open one and deposit some of the money) for safekeeping.
Don't forget that the primary reason why you got your money, was to spend it. So feel free to spend your money according to your budget, but spend it wisely.

imagine how it feels to live in the streets or in the bush, to spend a day or more without eating and drinking (not eating a balanced diet in particular) or having insufficient clothes to protect you from the terrible weather. This is not ideal for any human being. This is why you need to prioritize your needs. You need shelter, food, clothes, etc. because you cannot survive well without these.

An impulse buyer is a person who purchases stuff (usually a lot) without any prior plans to do so. This is what a lot of us do when we find interesting things to buy, which are outside our budgets.
Impulse buyers run out of money very fast and this means their future plans, which need money, will need to be suspended until they earn more money and this will delay the progress they need to make in the future.
impulse buying is very dangerous because you can waste money on petty things that don't last, whilst you have outstanding debts, bills and other essential expenses to pay for.

to children; you may be annoyed when your parents/guardians tell you that they do not have money to purchase what you want. The main reason is no one knows what the future holds. For example, they would rather save money and prepare for the time when you are going to fall ill in the future, so that they can pay for the medical expenses, instead of buying an expensive doll or an expensive toy car.
you never know the problems that you are going to face in the future. You do not know if you are going to receive sufficient profits from where you have invested your money. You do not know if you are going to switch to a job where you earn a small salary and you need to transfer your children to a school with very low standards, just to mention a few. This is why we need to be accurate with our assumptions and budgets.
You know your struggles, so avoid regret and prepare yourself for the future and be extra careful on how you are going to use you money in the future.

DISCUSS WITH THOSE AROUND YOU (YOUNG PEOPLE, DISCUSS WITH PARENTS AND FRIENDS) AND ALSO READ BENEFICIAL ARTICLES TO GET BETTER WAYS OF SAVING MONEY.

Some of the people that you associate with, might better ideas on how to spend and save your money. However, consider the most appropriate advice because you do not want to lose your savings due to carelessness.
Parents/guardians are very good at budgeting because they have more priorities and responsibilities than their children. So children should consult their parents before they are independent because children will receive the best advice on budgeting and saving money, from their dear parents/guardians.
An article by a professional in the world of banking, would be ideal to read because the professional knows how money circulates, has reliable statistics and can help you to identify your needs, which will help you to appreciate saving money.

PAY BACK ON TIME WHEN YOU BORROW AND YOU SHOULD - BY ALL POSSIBLE MEANS - AVOID BAD DEBTS

According to the Oxford Dictionaries, bad debts are debts that cannot be recovered, which basically means the money that was owed to a creditor is not recovered, even though the creditor is ready to receive it. You definitely don't want to be in this situation.
Paying back on time helps your creditor to trust you with more money in the future. Stick to your agreements and promises, whether the debts are long term or short term.

SHUMBAFOOT