Saving from an economic perspective

Saving from an economic perspective

What is the meaning of saving and what is its importance?

Beginning to say that saving - as economists see it- this is the remained or deducted of income after consumption, meaning that income is generally distributed to consumption and savings. Thus, savings were said to be deducted from the income for future consumption, as distinct from compactness, which meant the cash deduction for freezing and withholding of funds from trading without investment.

Saving and in this age is especially important to ensure the importance of reserves, cover emergency expenses and sudden circumstances, pay financial dues to others, and provide a decent life for the youth and their families. Allah says, "the worship of the moderate" ((Those who, when the spend and extravagant and not niggardly, but a just (balance between those (extremes). In this verse there is a definite indication of moderation and its importance in consumption expenses in particular, which means an opportunity to enlarge savings and the size of savings. The almighty says, "extravagance and profligacy” ((eat and drink do not waste), ( do not waste needlessly) In these verses, Rabbani is directed not to overspend, and this is in the interest of savings.

Why did you missed our education meaning of saving?

The reference here is a modern fact, namely, the difficulty of saving in the age of consumer society, the owners of consumer mentalities and those who are entrenched in the irrational consumer culture. In addition, there are obligations and rights for people in receivables, whether in the form of debts, premiums or entitlements, that do not enable them to be able to save.

Family necessities and social burdens put an invisible strain on the home budget, making the head of the household embarrassed and constrained by the difficulty of adhering to a specific budget. Adding to the above is an important element, namely, the volume and quantity of cash income, as a factor influencing a person's ability to save. We cannot overemphasize the fact that relatively high incomes have been facilitated by the owner of the savings mission.

Therefore, our education should promote important skills, the most important of which is that saving enables its owner to be rational and moderately balanced in purchasing, spending, consuming, taking, distributing and other economic dealings. Through available cash savings, a young person can cover his obligations, debts and other entitlements, and can provide some recreational items. As the young man demands religion and is known to be an overstep, he has surpluses to help his brother’s traditions.

Emergency and Crisis item

Saving agency, its purpose may be to ensure old age and future, or to increase income or raise living standards. Saving may be to buy necessities or to secure the future of the children, or simply to spend a pleasant vacation, but saving remains a necessity, because things may evolve, not to guarantee the permanence of the situation.

Who did not calculate his expense did not calculate his income, and who did not calculate his income lost his origin. Those who have no knowledge of the richness have been allowed to be impoverished and humiliated. The future of any human being depends on what he has prepared and organized his finances to achieve the program. Let us decide today to spare us if we have not yet done so, and if we have sinned in the past, let our decision be wise and firm and let’s decide now to begin.

How can we save?

It is extremely difficult to weaken the savings capacity of a wide range of members of the community. In addition to the limited income of those groups, the size of the receivables and the debts and premiums incurred by them.

However, it is better to provide them with some important advice and guidance in this area:

1) Start with priorities, what is important, more important, imperative, belonging, luxury, if you can postpone some to another time, then good.

2) Do not neglect the excess, no matter what,, the mountain consists of sand dissipation.

3) Beware of the excess of the savings route that is connected to the area of the Stetter and the cheapness and scarcity that is terminated, because it is neither excessive nor negligent.

4) Be wise in your spending, spend and moderate your consumption in all things, the best things are central.

5) Looking for another source of income, no matter how little it returns, or whether it is a professional nature, work is an honor and a cult.

6 ) Save the available surpluses at the time of ease and capacity for the need at the time of hardship and distress and as it was said, keep your white penny for your black day.

7) Plan for yourself and your family and their expenses according to a moderate budget, taking into account disciplined diversification, normal recreation and basic requirements.

8) Evaluate your budget periodically, monthly, semi-annually or annually, and benefit from experiences of others.

9 ) Take advantage of others experiences in saving matters and if they are appropriate and proportionate to your income, social status, family and requirements, the wisdom of the believer.

10) Before, during and after, ask Allah Almighty to help you to guide you to the way of truth and make goodness in your steps and to guide to most suitable things, the most guided conditions the fairest curses .