Romblon State University

Savings, Credit and the Economy

Bob Victoriano Flores

2nd year-block 12

March 31, 2022

In the instance of Tammy and Catalina, in the case study about savings, credit, and

the economy, Catalina thinks she is saving money for herself when she saves her

money in a bank, but she has no idea that the money she saved in a bank helped a

lot of adoring business people like Tammy. When it comes to Tammy, who wants to

establish her own business, such as a restaurant, he plans to borrow money from a

bank to help her get started because he doesn't have enough money to do so. Many

of us want to establish our own business but lack the financial resources to do so.

Every person who saves money in a bank benefits a lot of others, including Tammy,

and thanks to Catalina, who saved money instead of wasting it on needless stuff.

To start a business in the twenty-first century, people merely need a bank account or

a major firm. Some people are brave enough to borrow or loan money from a bank in

order to start a business, but others are not, and instead opt to die in poverty with

their families in order to finish their lives in shame. It's quite encouraging to be

someone who has a dream for their family. And to those who put money in the bank

instead of squandering it on frivolous purchases: you had no idea you were already

assisting others in this way. This shows that simply putting money in a bank account

can benefit a large number of people.

As someone who only wants to save money in a bank for themselves, they were

unaware that it may also benefit a large number of individuals. Catalina and Tammy

are very inspirational when it comes to saving, credit, and economics. In this

scenario, a person like Catalina who solely saves money for herself and a person

like Tammy who wants to start her own business, such as a restaurant. Catalina put

the money she saved in the bank and the money she collected into a loan to assist
Tammy start a business. Based on what I've learned in this module, I believe this

case study has already been resolved. I propose that everyone start saving money

instead than spending it on frivolous items. This manner, you can also support those

who require it more than you do.

And Catalina and Tammy's story prompted me to start saving money in the bank,

and you didn't realize you were already helping a lot of people in this way? One of

the most important parts of accumulating wealth and securing a financially secure

future is saving money. Saving money allows you to escape life's uncertainties and

live a more fulfilling existence. Putting money aside in a disciplined way will help you

avoid a lot of life's stumbling blocks. It can help you in times of need and provide a

safety net for your family in the event of a disaster. People frequently underestimate

the value of saving money. They believe they will have enough time in their life to

save and invest for the future. However, I believe that we should begin investing our

money at a young age, because we may feel the effects of inflation when we are in

our teens. Year after year, inflation has risen. If there is inflation, it should be

controlled by depositing part of our money in the bank rather than spending it on

useless items that may lose their value in the future.