<span>Payment. While payment is the sum of money paid in exchange for something either goods and services; the money can be credited (or added) into an account directly without making direct payment. We can also credit our account which is also payments. The most efficient way of building a savings is having a set minimum or percentage for saving whichever is greater. Sometimes we may need to save more than our "set minimum" especially when we earn more. The higher we earn the more our set minimum pales in comparison to what we ought to save. On the other hand if we have a set percentage it would also need to be raised higher when we earn more, but saving whichever is greater ensures that we make the best and most efficient savings decision at any period in time.</span>
1. Another term for adding money to an account is - contribute
One should contribute to his account. This phrase means, one should add money to his account. Contribution is addition of money in account.
2. Which situation allows you to have the most saved ?
A) having a set amount set aside for savings each time you are paid- this can be the most possible answer. Technically a person should save 20% to 25% of his income and this amount increases with income. So, each time when you are paid, set aside the savings amount.
