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The Dean of the Faculty of Economics and Administrative Sciences at Imam Muhammad bin Saud University, Dr Muhammad Makni, reviewed yesterday (Friday) the best methods that can be followed to save monthly income.
He explained, during his meeting on the program “Nasher Al-Nahar” on the Al-Ekhbariya channel, that keeping money is not good, especially since its value is constantly changing, and that this also represents a loss for the economy.
He added that there are different financial planning rules that lead to saving, as this can be done by dividing the monthly income and assigning specific percentages for basic, emergency and savings matters, like allocation of 30% of income to housing and 40% for basics, leaving 20% for savings and 10% for emergencies.
Video | How important is saving and what is the most appropriate way to save?
Answers from the Dean of the Faculty of Economics of Imam University #theday_news#new pic.twitter.com/D6L3uWRovA– News channel (@alekhbariyatv) August 13, 2021
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