First, about the importance of savings - it is because we cannot know what would happen in the future. So that money saved would bring the financial security and assure a safety net in case there may be an emergency. When managing your personal finance, it is essential to have specific saving plan because it would help you to track your saving and commit with the plan. In addition, the fixed amount of savings plan would also require you to adjust expense to be appropriate with your income and savings also. The balance between expense and savings demands would help you avoid going into debt or having no back up money for emergency.