saving plans are only for people with money. yes or no, support your answer

Expert Solution

The given statement is FALSE because saving plans are not only for people who have a higher amount of money but these are also for people who don't have higher money but they should be trying to use their income in such a way that after they are done with their expenses, there are a little bit of savings in order to meet with the emergencies in the future, so they will be trying to modify their expenditure criteria and try to save out of their income so that they can help them self in order to survive through adverse economic situations.

Saving plans are also for those people who don't have money but they are earning and spending so they will be cutting on their expenditure and they will be trying to save in order to have a plan of getting through tough times and emergency situations and they should also try to proactively save in advance in order to deal with adverse economic scenario.

Saving plans are plans in order to deal with changes in economic scenarios and adversities so those people who also don't have money are also trying to save out of their income and lower their expenditure and have a emergency fund in which they will be helping themselves in order to deal with bad economic situation.

jeff jeffy answered 1 year ago

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