Algebraic expressions are helpful tools for figuring out how much money you can save each month. By using letters to represent different amounts, you can create expressions that show your income and expenses.

1. Defining Variables:

   • Let $I$ stand for your total monthly income.
   • Let $E$ stand for your total monthly expenses.

2. Savings Calculation: You can calculate your monthly savings ($S$) with this expression: $S = I - E$

3. Example: Let’s say your monthly income is $I = 20,000$ SEK, and your expenses are $E = 15,000$ SEK. In this case: $S = 20,000 - 15,000 = 5,000 \text{ SEK}$

4. Statistics: According to Statistics Sweden, the average savings rate for households was about 16% in 2022.

By using algebra, you can change your savings plans and set realistic goals based on how much money you make and spend. This way, you can make better financial choices and plan for the future.