Prepare an note on the importance of practising thrift in a family
Answers
Answer:
Thrift spending basically means to spend carefully and smartly.
Everyone should do thrift spending even f he is rich or poor. As a student one should not need to buy expensive copies and pens because they all will serve their purpose equally irrespective of their price. Also one should not eat frequently in the canteen rather they should eat what's given from their homes
Importance of practising thrift in a family
'Practising thrift' refers to careful management of money, i.e. carefully and tactfully spending money to save enough. Every family should have a budget of their own that promotes savings. Unnecessary spending on expensive items should be avoided. Every member should be financially responsible and spend only what is needed. This will help a family in the long run.
Instead of throwing away things and getting new ones frequently, one should try to reuse them or hand it over to somebody else for their usage. Also, selling old items is a good way of saving. This is to ensure that a family thrives over difficult times. Financial wellness also ensures happiness in a family and thereby practising thrift is necessary to overcome any shortcomings in the future.