Best ways to save money

[Sotherefore]

Saving money has become parts of every individual most especially those that have future plans , generally we are advised to saves as much as possible because it is absolutely necessary in the life of a potential struggling man, you may need it in the future to establish a business or to engage in any profitable ventures.

There are different ways we can save money for the future , some people might prefer to save their money in the bank while others may prefer to invest their money in something that will still maintain the value of its money, belows are ways you can save money which I consider to be the best

1) THE BANK: the bank is the most secured financial institution you can save your money, saving your money in the bank gaves it 95% security , another reason why the bank is a secured organisation to save money is because it is backed up by the federal Government and the Central Bank of a particular country.

2) REAL ESTATE: a lot of people who do not like their money to be dormant in their bank accounts can invest their money in the real estate which are lands and housing or any other real estate ventures that can generate them some interest, it is among one of the surest way to invest your money, for as long as you are Investing legally the risk of losing your money is extremely low.

 

[Augusta]

Yes saving money needs to be done on only secured places or else it might just be like throwing money into the sea with no hope of retrieving it. The bsnks especially the old generations have made nsmes for themselves as solid banks so you can trust them that your money is safe with them even if you have your money with them there for donkey years. Such bamks in Nigeria include the first bsnk of Nigeria, the GT bank, the zenith bank and even UBA.

These bsnks have stand the test if time. So you can trust them with your funds. Yes, investing in real estate is a good way of money saving. You dump your money into property or buildings and you must have gotten assets that will help you save and even double your money if not triple it. Saving in property is more appropriate to me as you make more money.

 

[funmi]

There are no other better ways of saving money but by watching how we spend it and spending widely. It is always best to look the other way when you notice some thing that is trying to gain you attention and yiy don't really need that particular thing but you mind is just trying to play tricks on you, in other to overcome it is better to always prepare a scale of preference when you are heading to the marker or going somewhere. This is will help streamline your spendings. The scale of preference spell out the relevant things from irrelevant things.


Honestly discipline should be another thing to look out for . when one is discipline you will hardly go for what is not needed. Infact everything would have been well planned for. And excess will be user much later rather than lavishing them on frivolous things.


Then rather than saving money it is always better to invest it because when you save most times.it will.be tempting to.go there and retrieve it whenever one is faced with a minor challenge. But if the money is invested in something it will be difficult to spend the money carelessly and without plans.

 

[Kendy]

We have different methods of saving money no doubt, but the act of saving these days has become very difficult because of the economic crisis and what we earn is not enough to carter for even our basic needs. The cost of renting a house which is very vital, the cost of feeding twice or thrice daily is a whole lot to deal with and be grateful for and the cost of transportation to carry out our job duties to avoid causalities has all been a bit too hectic. Savings has now become hard to abide with. One of my goals this year was to at least have a savings of $150, so that I can use it to learn or register for a trade offline by ending of December but this is the third month already and I do not have even one Kobo or shilling in my piggy bank. It is really not easy to save when you are still battling alone with so many responsibilities. There are ways of savings but right now, the best form of savings for me is to join a group or joint contribution of about 10 people where the contribution would be fine and we will have our different months to pick our money do it could help me with sorting out my bills.

 

[allison001]

Yeah, you're right bro, we have so many ways we can save our money. Bank as you said is one of the most popular way a lot of people know and take that as their only way to save.

Having your money in real estate is a good idea but that's not saving it, it's an investment which will yield a profit in the future. To be sincere, I don't really like saving my money being it in the bank or any source because after many years I'll still go and meet it the same quantity, instead i prefer investing my money.

Internet have given and provided us with so much information and idea on how we can invest our money wisely.
Since we're living in a modern world, we can invest our money rather than keeping them in the bank by investing them in cryptocurrency. Talking about investing in cryptocurrency, you don't just wake up and go invest in cryptocurrency, you need acquire some skills and know the potential coins to buy, when to buy and when to sell. A lot of crypto traders do lose their funds fast because the don't buy the dip.

In all, i prefer investing.

 

[Jasmine]

Generally speaking, there are teo different strategies for saving.
Let's say you earn $1000 and after paying bills and spending money on your necessities, you have $20 left. You save that money. ON the next month, you hve just $10 spare and you save that money. ON the third month, nothing is left on your hand, and you cannot save
Let's say you received a pay check of $1000, you deduct $50 from $1000 and save in the bank and you will try to manage your entire month with the remaining $950. On the next month, you just deduce $50 and save that money. If in the previous month, there was some unnecessary expenses, you will try to cut that expenses and try to manage your finance.
Between these two, which saving strategy do you think is better? The second option is better because you are saving every month.
Now that you are saving every month, how do you actually build a big saving? Well, you need to understand about compounding interest. You need to compound your saving to earn even more. For example, you are saving $10 every month in your bank. BY the end of one year you have $120, now you can save that money in interest bearing account.

 

[sincerem]

I don't have much to invest in real estate ventures, and I don't like the idea of saving money in the bank. I just prefer building up my funds while saving it on crypto, staking is a reasonable means of seeing your monetary assets increase in value. I know it's risky though, if the coin you picked out and staked on dwindles, but such can't be reckoned mostly on, because their chances too for the coin to add much more value in the future. That's why we need to make due diligent research in order to pick out potential coins for profit to stake on. You can stake more of the coins it depends on your funds, you can stake on one too with big funds, it just depends on your plans. Had it been I have reasonable amount of money in my life, that will do for a real estate investment, I wouldn't mind setting up one, maybe a student lodge in the university premises. Because I know how in demand it will be when the structure is catchy and we'll planned. Students loves comfortable and well looking apartments to rent and feel very much comfortable in their time in college.

 

[Abigael]

Saving is very essential for sure. It comes with so many benefits. You may choose to invest for a specific thing that you wish to buy in future. Or you can just invest for any emergencies that may occur in the future. So you must first define your reason for saving so that you gave definitive goal.

It is important to note that for you to save well, you should make sure that you are earning well. That way, you can afford to pay your bills and still have some to save. So you should learn to diversify your earning and look for several streams of income.

Self discipline is so important for someone who has chosen to save. You may have well planned to put the money in a bank of invest it somewhere, but without self discipline, you won't control the urge to spend the money. Therefore, it is best to learn to be self disciplined.

Lastly, the method you choose to save or invest your money in should be safe. If it is a bank it should be a stable and well established one, not those that end up being closed. As for investment, make sure that the method is actually legit.

 

[Kingsley]

We all talk about spending wisely and been extremely careful on the way we spend. But despite all the lectures we have all received on financial education and how best to keep a healthy financial lifestyle. We still have the problem of saving money that will be enough to handle contingencies.

The truth of this whole thing is that we have failed to examine those things that we do not consider as important, importantly. After deducting the basic expenses which are food, shelter and clothing the rest can be adequately managed. But this level at which we can manage this other very essential needs will depend strongly on which country you find yourself.

In some developed countries of the world, we discover that health is free, education is also gotten at a platter of gold and school children are well funded and take care of Iin schools. And there is stable and affordable electricity. Security is also free and readily available for all as their government has handled this things. As compared to countries where this social and basic amenities are missing then one will have to strive so hard to meet up and hence saving will become a mirage.

 

[Shigobad2020]

There are many ways in which you can save your money either online and offline because we have online banking and offline banking , bank is of the first place in which you can save your money conveniently , you can save in your fixed deposit acvount so your money can keep increasing .
You can also actually invest by buying bank shares in the bank which can also makes your money increases
You can invest your money into business either offline and offline, I prefer investing in a long term investments and the most important thing is to make sure that the business you are investing on is a legit business, ,and if you can discipline yourself you can invest your money on crypto currency by buying crypto currency and saving it in your crypto currency wallet account and hold it for a long term and wait until the coin appreciates.

 

[Oluwasegun purpose]

There are many ways in which you can save your money,if you are looking for a best ways to save your money follow these steps ...

through Bank,you can save your money in Bank, bank is One of the safest place were you can save your money with full security ,so you can trust all banks and save your money with them...

if you don't want to save your money in Bank you can also invest your money into any kind of business you like you can invest into real estate or any of your choice and if you want to invest make sure you invest in a long term business and find out about the business very well before investing into it....

 

[Mika]

Your money is safe when you save it in a bank, however, your money can lose value when there is inflation, therefore, in terms of financial value, it is not very good to keep your money in banks. Even for the purpose of receiving returns, bank accounts are not the best. If you do not want to invest because you are too afraid of losing money, and if you want to save money to receive better returns, you can buy security bonds, corporate bonds, or treasury bills. These bonds and bills offer high interest on your money and are safer than banks and less risky than investing. Real estate can be good but you need a lot of money to invest in the real estate and you might also have to finance your real estate property through a bank loan and getting a loan can be very risky if you are unable to pay it back.

 

[King bell]

Here are some of the best ways to save money:

• Opt out of paperless billing to save $14 annually.
• Make a lunch buffet your new go-to to save $30 per week.
• Cancel unused credit cards to avoid the fees and earn some bonus cash back.
• Conduct a thorough audit of your monthly bills and eliminate the ones you don't use.
• Switch to all green products in order to get discounts, such as Energy Star appliances, CFL or LED light bulbs and organic food products.
• Keep track of your online shopping to make sure the deals you get are actually better than those at the stores.
• Forgive yourself for one indulgence, such as a visit to a cafe or a night out with friends.
• Go for used furniture and appliances in order to save money and buy items that are more durable in the long run.
• Refuse freebies, such as free tickets or free samples, to avoid accumulating clutter.
• Bring lunch from home rather than eating out often.
• Downgrade one of your phones (or another device you use frequently) by removing an extra line or getting the most basic phone possible.

 

[sincerem]

Man, I don't see any value in saving $30 monthly or weekly with what I'm earning online. The high rate of inflation here in my country makes it valueless over time. Because you'll save that money for years, still not going to build an estate with it. The best I can say, find something tangible that brings better earnings and operate on. By that way, you can earn more money, invest in valuable industries and save some for emergencies. I am not earning much online I am not saving money though, because their is no value in it. Rather, I'm investing more into crypto and withdrawing daily as a day trader and making some profit, that way, it is better than saving my money in the bank where interest is too low. And their will be steady charges keeping my money in the bank due to their bizarre maintenance fees.