What are the 3 types of spending you do?

Learn about gift cards

What is a gift card?

Also known as brand vouchers, gift vouchers and brand cards, gift cards are a digital mode of payment which carries a amount along with a pin / card no. You can buy these gift cards and use them to pay on 300+ brand online and offline as well.

Why should I use a gift card?

Gift cards help you get great value on your purchase with a brand. They simplify giving, help with budgeting, and are easily sent across distances, ensuring your thoughtful gesture brings joy and value.

How to use a gift card?

To use a gift card, simply present it at the time of purchase in-store or enter the card’s unique code at checkout when shopping online. The amount of your purchase will be deducted from the card's balance.

Buy Gift Cards

Blog

What are the 3 types of spending you do?

All your spendings can be divided into 3 types on the basis of your need, wants and savings. Read more in this article & know what kind of spending you do.

Published

March 10, 2024

Reading Time

minutes

Shuaib Azam

Fashion Tour of India: Click & Discover!

Dive into India's colorful wardrobe with our easy-to-use map! Just click on a state and see what people wear, from timeless classics to trendy outfits. Plus, check out the cool brands they love. It's fun, fast, and full of surprises!

Select a State

Male:

Male Fashion

Female:

Female Fashion

Download Hubble

All the money that you spend can be grouped into one of the 3 types of spending.

This applies to you even if you haven't checked your spending since you opened your bank account.

They are: essential, discretionary, and savings.

Essential spending is the money that we spend for necessities. Like, for basic living, such as food, housing, and medical care. All the money that you spend to maintain your current standard of living can be deemed essential spending. These are your 'needs'.
Discretionary spending refers to money that is spent on non-essential items, such as entertainment, luxury goods, and travel. This type of spending is not necessary for survival, but it brings you comfort, joy and other things that make you who you are. These are your 'wants' and your 'spending money'.
Savings spending refers to money that is spent or moved with the sole purpose of using it in the future. Saving can be used for a variety of purposes, such as buying a home, career improvement, or planning for retirement.

😎 Top selling gift cards now