Steem4nigeria Accelerator Contest Week 38: Savings and Spending

Hello good day everyone on this great community steem4nigeria is my pleasure to participate in the existing contest "savings and spendings". It is the contest that we should really participate in.

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What is your definition for savings and Spending?

In my own understanding saving means setting aside the money that is not ready to use or spend for future, saving is the money that cannot be use immediately.

Spending is known as the way of releasing money to buy or purchase goods and services, this involved the exchange of money in order to purchase your needs. When spending the money it has a particular way which it should be spend on. Unlike spending money for food stuffs and others domestic ways of spending money.

Presently with the state of inflation, have you been able to practice the action of savings? If yes, tell us how and if no tell us why

Well before I always save more of my earning when received my salary from my working place due to how our country was back than I try my possible best to save and I also save more money which I use for an emergency one day.

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Currently now I don't have a save again due to how things are costly and hard in my our the little I have I spend it for food and transport. But I still have passion of savings the problem is that there is no much money to save. Because I can have small money and I feel hungry then refuse to buy food and eat 😄,

What is the place of steemit to your savings culture? Has steemit help in your spending or savings?

My view on this is yes it is very sure that steemit force everyone on the platform to save more earnings than spending all what there have. That is when we have club5050 on steemit before I didn't know the meaning of it when untill my mentor told me about that. That so when I know what those club status means.
I will also explain it here in my little understanding,

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. Club5050: in steemit club5050 means taking out 50 percentage of your earnings and power up 50 percentage of your earnings.

. Club75: in steemit club75 means taking out 25 percentage of your earnings and power up 75 percentage.

. Club100: in steemit club100 means to power up all your earnings to your steem power.

Those are the difference form of savings in steemit. The earnings which are powered up to the steem power are keep safely for an emergency time .

Thus far this year, is your financial target been achieved? How have you been going about it.

Well I plan ahead of completing my target of this year but so far I don't still have hope that I will complete it, but as soon as this year will have not finished I will fight towards my target. My target this year was to buy a sewing machine, I have put it in mind and plan towards it since the beginning of the year.

The price of the sewing machine is now #175,000 naira and in Steem is 568.795 steems.
But although I have not save up to 40,000 naira in the target of reaching 175,000 naira. And in our country of now a days everyday there are increasing prices of goods and services. But I pray for God should give me the ability of completing my target and to also have support from many ways.
Thanks for reading.

I invite
@bossj23
@goodybest
@kidi40

To participate in this delightful contest.