✤ What you saved for?
✤ How you saved money?
✤ For how long did you save money?

• Normally,I depend on my parents for all my needs.
• But when I have to buy something big,I save money for that.
• Here I would like to talk about a product that I bought after saving my pocket money for one whole year.
• It was an apple I phone.
• I bought the latest 5S version of this phone.
• Actually,my friend bought the 4S version last year.
• I was fascinated by the looks and features of the phone.
• My mouth started watering but when I heard the price I realised that the grapes were sour.
• So,I started saving money for the phone.
• It was difficult to stay away from chocolates and fast foods but I did it.
• By the time I had enough money,the new version iphone 7 was there in the market.
• So,I bought the latest version in white colour.
• This phone is not just a phone.
• It is a mini computer that fits into your pocket.
• One can do wonders with this phone.
• It is a rectangular phone which has a 3.5 inch screen.
• It has a multi-touch facility which means that you can do multiple functions at the same time.
• It has a very long battery life.
• It has a capacity of 64 GB.
• Its weight is around 140 gms.
• It also has two cameras.
• It allows face-time video chats.
• I felt very good after buying the phone.
• I feel incomplete without this phone.
• I have got it laminated and I am very possessive about it.

Follow ups
1. What do young people in your country like to buy?
Young generation in our country has been impacted a lot by social media.They have access to all the information at their fingertips and they know what the latest trends are.Due to these factors they are mostly interested in buying gadgets such as smartphones and are also interested in the latest fashion.

2. Which do you think is more important,the cost of a product or the quality of the product?
I definitely believe that the quality of the product comes first,because if the quality is really good,then people normally don’t bother about the cost.For example,Apple iPhones are known to be Premium quality devices and whenever they launch their new Phones we can see long queues outside their stores on the day of the launch.

3. Why are imported products more expensive than locally made products?
Imported products are more expensive than locally made products because the government wants to promote the development of local businesses.Also,custom duties and other taxes have to be paid on imported goods.If the imported products were to become cheaper,then there will be no economic growth of the local businesses in our country and it will also hurt our economy.

4. What do you think of those people who only buy expensive things and look down on other people who buy cheap product?
I think that these people buy expensive things only to pretend they are cool/rich and show off their status.I feel that such people are vain and value material things more than relations or others’ emotions. I believe that even if someone can afford to buy expensive things,he/she shouldn’t look down upon those who can’t.

5. Which do you think is better,buying things online or buying things in real shops?
I think it’s really hard to decide which one is better because both of them offer their unique advantages.For example,online shopping provides you the comfort of ordering anything in the world with just a click of a button,whereas retail shopping provides you a great experience and the ability to feel the product before making a buying decision.

6. Why do you think online shopping has become so popular?
Online shopping has become popular primarily due to two reasons.Firstly,It’s very convenient for people to buy anything online by just clicking on a button.They don’t have to spend time on going to shops or in finding car parking.Secondly,eCommerce companies offer a lot of discounts online,hence making the products cheaper than their retail prices.

7. How do people pay for things they buy online?
People normally pay through their Credit Cards or use Online Banking for making purchases.But now a days eCommerce companies have also started providing the option of Cash on Delivery,i.e.people can pay when they receive the product.

8. What can parents do to teach children to save money?
Parent can teach children to save money by buying them piggy banks,and by setting an example in front of them by saving money themselves.

9. Why do young people tend to waste money?
Young people tend to waste money because they don’t realize the importance of money,and sometimes they just want to show off.

10. What kinds of things do people like to buy in your country?
People buy all sorts of things in my country.They buy clothes,footwear,electronic gadgets and many other things.

11. Do schools in India teach anything about financial management?
No,schools in India do not teach anything about financial management.There are some basic lessons about tax computation,but nothing is taught about managing finances.

12. Why is it necessary to teach teenagers to manage money?
It is very necessary to teach teenagers to manage money,because otherwise they just waste away money,which their parents earn with great difficulty and hard work.

13. How do parents give pocket money in your country?
Some parents give weekly money,whereas others give monthly pocket money.

14. Do you agree with the idea that the more you save,the better life will be?
No,I don’t think so.We should also have a comfortable present.If we just focus on saving and not spend on our basic needs today,then it is certainly not good.If parents have money,but still they do not spend on quality education of their children it is not good.

15. What is the best way of saving money?
Some money should be kept in banks saving account so that you can withdraw when you need it.Investing in property is also good,but you must study the prospects carefully.Putting money in insurance schemes is also good.

16. What are the consequences of not saving money?
Not saving money for rainy days or bad times is not good.We must always put aside some money for the future.