You must focus more on saving money because saving money is the key to having less financial problems in the end. This is why I have always been saving money and i have recently cut my expenses.
How do you save?
- Thread starter Castelione
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You must focus more on saving money because saving money is the key to having less financial problems in the end. This is why I have always been saving money and i have recently cut my expenses.
The honest truth is that saving is never easy when you have a lot of bills to settle. It is absurd to see one save while he or she is hungry. However, it is always advised to save a little part of what we earn no matter how small as that will help in a matter of emergencies.
Same here, sometimes by the end of the month I'm down to like $5.00
Finally, I've decided to create a monthly budget, on paper. Tracking all my expenses ahead of time, and doing my best to put away at least 10% of my total monthly earnings.
Otherwise, it's just freestyle spending, and that's how I run into trouble.
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Same here, sometimes by the end of the month I'm down to like $5.00
Finally, I've decided to create a monthly budget, on paper. Tracking all my expenses ahead of time, and doing my best to put away at least 10% of my total monthly earnings.
Otherwise, it's just freestyle spending, and that's how I run into trouble.
It is not that easy to save money because we all are tempted to spend money at some point in our life. I think that willpower plays a very big role when it comes to reducing your expenses and making you avoid spending money in an extravagant manner.
I agree, it does have a lot to do with willpower.
And with the cost of items and food going up, almost twice the price, it's so easy to lose money very fast.. unknowingly.
That's why I'm trying the whole "budget on paper" thing.. so I can already see the prices before I even purchase.
What we must all understand is that savings some money takes a lot of discipline
If you do not discipline yourself well enough and you do not have a reasonable plan to save certain amount of money, it will be very difficult for you to do so.
If you do not discipline yourself well enough and you do not have a reasonable plan to save certain amount of money, it will be very difficult for you to do so.
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It is very important to save at least some substantial amount of money,because ther might arise some eventualities alone the way that one did not envisage,cutting down cost and attending to the most important things is one way to save money.
Personally, i usually approach saving from the expenditure point of view. If i cut my expenses, I will automatically have something to save. I usually set like 20% aside from anything that i earn. Whether its my regular income or a gift from a friend or family. To save money, you need to cut out the things that aren't necessary and spend more time on the things that are.
For example, if you're spending $5 on coffee every day, consider what else you could do with that money. You could buy some fruit or veggies at the supermarket instead of going out for lunch (and getting takeout). You could also invest in other hobbies or activities that don't cost as much—like reading a book or playing an instrument.
For example, if you're spending $5 on coffee every day, consider what else you could do with that money. You could buy some fruit or veggies at the supermarket instead of going out for lunch (and getting takeout). You could also invest in other hobbies or activities that don't cost as much—like reading a book or playing an instrument.
I guess that saving money also depends a lot on how you live (i.e. your lifestyle). There are so many people in my city who make a good amount of money per month, but they are not able to save money because they live a really luxurious lifestyle.
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Saving of money is something that I have begin to master over the course of time and then get how important it is. I usually save money by dedicating a particular portion of my portfolio in my account.
To save money is one of the hardest thing people usually find, so one of the easiest way I can recommend one to do in order to save money is to create an account and later freeze it so that he can not withdraw.
I've always said this:
A rich person has $50.00
A not-so-rich person has $5.00
The rich person goes out to dinner and spends the $50.00 on steak and seafood.
The not-so-rich person goes to McDonald's and gets a cheeseburger and fries for $5.00
At the end of the night, who has more money? Neither.
It's a tie.
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The main issue is that saving some amount of money will never actually help you in the long run as the issue of inflation is increasing by the passage of time. Therefore, you must save a massive amount of money.
Well that is a point though,but the type of savings i am talking about is just for a temporary measure,just keeping your money and retriving it when you have need of it to pursue any prospects.
I am actually planning to save money through the method you described. I have started to save my money on yearly basis where I tend to withdraw funds annually.
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That is a good one,because as a person,it is not all of our money we usually put into an investment,some money are kept aside for purposes ranging from,personal and missilenous purpose and some urgen exigencies or even to fund a project.
That's impressive. Saving 40% of monthly earning is not an easy task. It's not everybody that can do it. I want to adopt the method of saving the percentage of one monthly earning soon.
One monthly earning like how ? Most of the time the reason why I have been able to save up to that is because I have a ways of generating revenue offline. In all the same it is not every time that I can save up to that.
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I guess that saving money is also one of the most important factors which is correlated to making money. You cannot spend a lots of money, even if you are making a lots of money in the end.
Personally I don't just want to spend my money so much because I have a lot of projects I am interested to do. Because of this project I am forced to save as much money as possible . I think the best way we have to control spending is having a target goal to achieve.
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