Nigeria Deposit Insurance Corporation (NDIC) has told students in secondary schools in Bauchi State to imbibe the habit of saving. The message was meant to mark this year’s World Savings Day.

The corporation, while at Government Comprehensive Day Secondary School, Bakari Dukku, Bauchi, said the day, which is celebrated on October 31, is to sensitise people on the reason they should deposit their money in the bank.

Presenting a paper titled: “Savings prepare you for a better future,” the Zonal Controller of NDIC, Ajiya Zarma, urged youths to practise the ‘20:10:70’ model of saving.

“The model says you save 20 per cent of your income, give 10 per cent to charity and spend 70 per cent on yourself,” he explained.

He stated that NDIC had started the renovation of 21 blocks of classrooms in the school to make learning environment conducive for students of the school.

“World Savings Day is being celebrated yearly all over the world to create awareness on savings and it’s a creation of the Bankers Committee.

“The reason we brought the programme to this school is because we want to catch them young. When you inculcate the habit of saving into children, there are lots of benefits. Savings stimulate investment, production and employment along with other multiplier effects that bring development,” he said.