As we go along we need to have a savings for us to use this in emergency purposes. We have to consider our income versus our expenses. Example, you have a monthly income of about 20,000 then we spend for 20,000 for that period what happen to our account at the end of the month. We do not have savings and at the same we cannot control circumstances like illnesses, where will you get your medicine if you do not have savings and insurance policies.
I have the formula that can help you save money from your income. Savings = Income-Expenses, this formula is a very simple but when you go beyond to this your income is not enough when your expenses is bigger than your income. When you have the money decide on that on what percentage should you save for that certain period and remaining your expenses.