Money, quotA means of exchangequot has grown up to a extent of quotOnly means of exchange between the peoplequot. Now a days the things have changed in such a way that the people without money are not even valued. Money is also a necessity for a person to live on the earth in these days along with Food, Air and water. Hence everyone needs to know it39s value and learn the ways to improve their financial position. People who go on spending lakhs of rupees on luxurious activities may some time face a situation in which they do not get hundreds of rupees even if it is very urgent. Hence rich, middle class and poor everyone should have a proper knowledge about savings and expenditure. It is highly advisable for every person who may be an employee or business man to maintain an emergency reserve that saves them in odd times. One needs to start savings only after ensuring that this emergency fund is maintained. It may be equal to the six months salary of an employee or business man39s income. One can also invest the same in Bank Fixed Deposits to facilitate safety and quick liquidity.Only then he needs to start allocating to his savings. There are many other crucial decisions we need to take.. I will place those tips in my further blogs..