IT’S YOUR MONEY
How to Save on a
Limited Budget
by Robert Rhinesmith
A
s everyone knows, saving money
for your future is important and
pays benefits. Yet, when you
have a limited budget, it can be
a challenge figuring out how to get started.
Savings is the portion of income not spent
on current expenditures. Because the future
is unpredictable, money should be saved
to pay for unexpected events or emergen-
cies. For instance, your car may breakdown
and the repairs may not be covered under
a warranty. You may have home appliances
that break down, your children or grand-
children may need money for clothing or
school events or medical issues. A medical
28 HimPower May 2017
emergency could occur. Without savings, or
safety net, unexpected events can become
large financial burdens. Therefore, saving
helps you and your family become more
financially secure and independent. Money
can also be saved to purchase expensive
items that are too costly to buy with your
current earnings. It’s a much better option
than charging non-essential purchases to a
credit card.
TWO QUICK TIPS FOR SAVING ON A
TIGHT BUDGET
Tip #1: We have just finished “tax
time”. Many of you have, or will receive