Steem4nigeria Accelerator Contest Week 38: Savings and Spending

Thank you @steem4nigeria for this great contest. I am previlledged to participate in this great community of steem4nigeria. I am Peacebl Bala with the username @peacebala from Nigeria.

What is your definition for savings and Spending?

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Savings is a process because it is a continuous tense. Savings on my understanding means the process of keeping something which could be any items but most often we use the word saving when It comes to finance. Every mature person understands what is saving infact children this days have the knowledge of saving some money for themselves. Money are been saved to be used in the future, for instance, I save an amount of money every month from January to December with the aim of spending the money for Christmas celebration.

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Spending is also a process. Spending in another word can be referred to as an act of releasing, letting out, giving out and somany other synonymic words. Life is all about spending, you must spend to eat, spend to look good,spend to have a good health.

People don't like spending, we prefer saving than spending but you cannot survive the life without spending money. If you want to spend then you work so hard and if you don't want to spend you stay idle and die of poverty and hunger.

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

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With the present inflation in my country, I am able to practice the action of savings. Savings needs a discipline minded person, if you are not disciplined when it comes to money then you are deceiving yourself because saving demands for discipline inorder to achieve the purpose of the savings.

My mother is a business woman and I was able to pickup by starting my little business too so through that, I am being able to save. My mother left the firewood business for me so every month I can sell a pickup of wood, the money I safe every month is the gains from the business.

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

I am not up to six months in this platform but I can say good about the platform. The place of steemit to my saving culture is that, it helps me to save as I keep powering up to my steem power.

Steemit owns a big place when it comes to my savings culture, from my everyday posy nomatter how little the vote comes I know that already I am automatically saving in the platform and my mentor always tell me that this money im saving in the steemit platform can be used in the future.

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

Through out the past 3 months of 2024 I have achieved something and that thing is the knowledge of this great platform. Knowing g about this platform is a very big achievement, not will money or anything.

I am hoping to achieve something very big, once I achieve it I will bring it here to the platform and launch it. My second achievement is to get a new phone,y present phone hooks most times so I somuch wish to buy a new phone. With my seriousness in the platform I will get my new phone soon

Thank you very much and I invite my friends to participate.

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