Final answer:
Saving every receipt from bank transactions is important for effective financial management, budget monitoring, and tax purposes.
Step-by-step explanation:
In order to effectively manage your finances, it is important to save every receipt from your bank transactions. Keeping track of your expenses through receipts allows you to monitor your spending habits, identify any discrepancies or errors, and make necessary adjustments to your budget.
For example, if you notice that a certain category of expenses, such as dining out or entertainment, is taking up a significant portion of your budget, you can make informed decisions about where to cut back in order to save money.
Additionally, having a record of your transactions can be useful for tax purposes, as you may need to provide proof of your expenses to claim deductions or credits.