Saving Money

[raaman]

Budgeting money is very important. That too, if you want to start saving some money for a new house or your children's education or something big like that. Here are some tips on how to start saving in right earnest.

Make a total of all your monthly fixed bills like school fees, phone bills, light bills, repayment of vehicle loans, payment of insurance premiums etc. In that, you should never include things like going to cinema, eating out, grocery shopping etc.

Note down the income you receive each month as salary or pension. Try to use the income received wisely in an appropriate manner. Reduce the amount of fixed monthly expenditure from your income. This will be your real usable income.

 

[Sotherefore]

thanks for the wonderful write-up ,but there are some people's salary that may not be able to do all those things you just said because it is too small and at the end of the month they may not be able to save anything tangible,how do you advise us to deal with this situation.

 

[sincerem]

When should spend base on budget for spending, and also spend money base on the amount t he or she earns in total for the day, week or month. And not putting his or her hands where he can't afford to achieve with the kind of earnings he receives as salary or reward after service. Cos if he indulges on such, it will take the person a very long time to wake of from the financial degradation that it will force him or her to enter cos of funds mismanagement.

 

[Deleted member 28127]

There is what we call in money saving unexpected money expense or unexpected budget. Like for example if you are saving money and then in the street you commit some errors with car circulation and you end up by get a penality with a police man that you have to pay back the penality that let our saving less than before so budgeting is important but save income for unexpected expense is good.

 

[sincerem]

There is what we call in money saving unexpected money expense or unexpected budget. Like for example if you are saving money and then in the street you commit some errors with car circulation and you end up by get a penality with a police man that you have to pay back the penality that let our saving less than before so budgeting is important but save income for unexpected expense is good.

This are unconditional challenges that we never expected. Uncertainties ruin our savings, makes us not to save the kind of amount we're willing to save for such time duration for it. Even when you're trying to calculate it saving culture, and spending g less to meet your target of savings, still uncertainties can't still allow us.

 

[Alexandoy]

I have been saving money since I was a boy and the thing that I learned is how to properly manage my finances. A saving habit taught me frugality in the proper way that will not affect my generosity. Sometimes I also splurge on luxuries but I consider that a reward for myself since I was the one who did the saving.

 

[Cinderella]

Having a budget and sticking to it is advisable if we want to save fast. Most of us buy on impulse even those things that we don't actually need. Whenever I saw something which I think I like and would like to buy it, I would not buy it outright. Instead, I would let several days pass. And when that happen, oftentimes, I don't have interest anymore on the item.

I also see to it that I prioritize payment of bills when I received my salary. I also save little amount on my online apps daily. This helps me in tricking my mind that I don't have money anymore at hand so I should minimize my spending.

 

[Abigael]

Saving is really important. You can be saving for something specific or for any emergencies that may occur. In order to be better at saving, you need to really become aware of how much you earn and how many expenses you have. That way, you can budget well and include how much you want to save after paying all your bills.

 

[sincerem]

Had it been i don't save i wouldn't have been meeting up my needs and avoiding taking loans. Being contented will enable you spend less based on your income, save more to have money in bulk to solve any money related issues, issues that comes through uncertainty. I'm not satisfied with the amount I'm making, but I'm okay with it, still working without haste to improve it in the future.