Money is a tool we use to achieve a goal. Different people have different strategies for what to do with money.
Some spend everything on consumer goods or recreational activities, such as enjoying a meal in a restaurant or going to a cinema. Others are in a situation where they can’t save money at all. They have to live from paycheck to paycheck. Such people are said to be living hand-to-mouth.
Other people save money for a rainy day. They can keep their money at home or in a bank. Still, other people invest their money. They invest in safe places such as properties or precious metals, or stocks of large companies. Some invest in risky places such as cryptocurrencies. They hope to gain a large return on their investments.
In Australia, for example, saving money is very important and one of the reasons for this is travel. In Japan, Kakeibo, is a budgeting method designed to help people save and spend their money wisely. This method is also popular among children. Clearly, saving money in Japan is a tradition that has been passed down through the ages.
