This is in clans that is save guard for future use save can either be voluntary or composairy. Money that is kept in save accounts is interest
Reason for saving
- For future use
- To set up a business
- For unforeseen circumstances
- For children’s education
- To avoid thief
FACTORS THAT FAVOR SAVING
- Level of income
- Interest
- Availability of financial institutions
- The political climate of the country
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