How to Save Money?

anil02

Verified member
Yes I am agree with discipline is must in every field. also in saving. It is better to keep some amount separate when we get salary and make budget for our expenses what is left after it. It is tough to earn to meet out all needs but it is easy and we can limit our needs as per our earning. So we want to save we must limit our needs
 

Maks25

Active member
Eating out every day can get expensive. Look for decent food that is affordable and within your budget. Save the fancy hotels and eateries for an important business lunch or a special occasion (and not for every day lunch).

Some people are able to bring lunch to work or school. This is definitely more cost effective than eating out every day (We realize that this is not feasible for everyone, especially if your lunch consists of perishable food and there is nowhere to store it.)

Take advantage of specials and discounts for lunch and groceries when available

For groceries that you know you use a lot, buy in bulk where available.
 

Georgeadawara

Active member
The greatest problem of the young generation today w file to understood how to save we only spend more than our daily income
If you want to start saving this are things you need to know
1: have the reason why you saving
2: how much can you afford to save a day.
3: don't try to save more than half of your daily income because it is dangerous something can come up and you can change your saving pertan
4: if possible have a fixed amount of your savings I can be daily weekly or monthly.
5: Set a goal to achieve before tempering to the savings.
 
K

King7

Guest
I'm a family man and one of my predicaments is I tend to splurge when I have money. I do have some savings but the problem is I can't seem to save enough.
Any effective saving pointers from the members would be appreciated.
Then you have to limit your expenses
 

anil02

Verified member
You are right dear to save we must have source of earning and earning must be enough to meet our basic need and some left after it. I am from India and bank are paying interest on our saving, but in these days it is not much. But banks are our first priorty because our money are safe in banks. In India for long term saving mutual fund is also good means, but here earning is depends on market. But peoples are using it. Here we too have some government plans to save, we must be remember that higher return means more risk
 

Thosynho

Member
I'm a family man and one of my predicaments is I tend to splurge when I have money. I do have some savings but the problem is I can't seem to save enough.
Any effective saving pointers from the members would be appreciated.
I can relate with you perfectly at least on this issue because I am also a family man so, I know how you feel. Saving is not an easy thing especially when it comes to a married man with responsibilities hanging on your neck.

One thing you must know is, responsibilities will keep surfacing as long as you live and if you decides to save after meeting all the responsibilities then you cannot save at all or you are going to be saving very little. So, you can decide the percentage of what you want to be saving from you salary every month put the savings a fixed account or get this app PIGGYVEST to be saving your money. You won't be able to withdraw it until the release date you set on the app. I hope this helps you.
 

Shigobad2020

Active member
I'm a family man and one of my predicaments is I tend to splurge when I have money. I do have some savings but the problem is I can't seem to save enough.
Any effective saving pointers from the members would be appreciated.
I am in your shoes, and I know the problems of saving when you have a low income and you have to feed your wife and children , but you can just budget your salary, list your expenses , for me I decided to be saving 15% of my salary, thou its not easy but if you can have focus and self denial, you can do it.
 

anil02

Verified member
I am in your shoes, and I know the problems of saving when you have a low income and you have to feed your wife and children , but you can just budget your salary, list your expenses , for me I decided to be saving 15% of my salary, thou its not easy but if you can have focus and self denial, you can do it.
I am also family man, Before 10 years my earning was not too much but I save, now I am saving good amount. Desires and demands have not limit. So if we want to save than we must be sacrifice our desires and demands. If some one doing job than to save money they can link their salary with any saving plan so amount is deducted from salary before it come in our hand
 

eojo2401

Active member
If I have enough money to save now, I will preferred saving it in cryptocurrency which I know it will give me great reward before the runs out. Cryptocurrency is a moving train, no motorcycle can stop it. Those that are waging war against it today surely cebrate openly it tomorrow.
 

Kingsley

Valued Contributor
For someone to be able to save you must be very disciplined. You must have a very good plan. And always prepare your budget to ensure that you dont spend outside the amount of money you are suppose to spend, then you must set a scale of preferences to determine the pressing needs. Then you must also consider the opportunity cost.
 

btaliat

VIP Contributor
That's the problem about married people. To be honest, it is very difficult for married man to save except he has a supportive wife who takes care of the small aspect of the financial situation in the house. Afterall, you can be watching your children suffering while saving money. The best is to create other source of getting money or you change your current job or business.
 
Savings is a matter of discipline, if you discipline yourself towards the way you spend it will help in saving some money. Once you gets your pay or income its good you plan on how to spend some and save some, make your budget according to preference which is the most important things you need.
 
D

Deleted member 28873

Guest
But in reality, you’ll only start saving money when
you learn healthy money habits and let your future
needs be more important than your current want s—
aka when you make saving money a priority. And
you don’t need everything to magically line up
perfectly before you start saving. There are plenty
(and we do mean plenty) of practical ways to save
money and breathe some fresh air into your
budget.
With a few tweaks to your spending, you’ll be on
the fast track to saving money in no time.
 

Shigobad2020

Active member
Then only avenue and the most safest and the most profitable way to save money and get better profits and interest nowadays is by buying bitcoin, mining it and getting better money later, bank can never gives you the interest and the amount of returns that crypto currency will give.
 

Alexandoy

VIP Contributor
I have to admit that I was a big spender when I was younger that my habit of saving was almost forgotten. But when I got under a pile of debts that took me more than a year to pay off that was the realization that I should be saving money for myself. When I felt I was alone with no money, no food, it was a sad life that I was really glad to have overcome.
 

Doradorwa

Opportunity seeker
It's hard to have money and not spend it but why not stick with a very tight budgeting with your wife. After all women are known to be managers. Plan with her, draft the family needs and your own personal needs with her. Make the family needs surplus so that she can hold on to whatever is remaining instead of you spending it off. But don't also forget your own personal needs. You worked for the money.
 

anil02

Verified member
I have to admit that I was a big spender when I was younger that my habit of saving was almost forgotten. But when I got under a pile of debts that took me more than a year to pay off that was the realization that I should be saving money for myself. When I felt I was alone with no money, no food, it was a sad life that I was really glad to have overcome.
It is good that you overcome from money problem. Not only you most of young are not serious for saving. At this age they only want to enjoy life. But indeed when we are young we can save much better than elder age. At young age we have not to much expenses and if we have enough earning than we can save much more. But after marriage it is some tough to save more money
 

Sotherefore

VIP Contributor
Without having a source of income its impossible to save, so the first thing you need is to have a source of income then save.
Well there are different ways and platforms you can save your money, although most people prefer saving in banks but if your bank is not offering percentage on your money is best to take your money out of the bank and look for where you can save and you will earn interest on your money. There are several saving apps out there that offers interest rates on your money annually, that way you will be rest assured that your money is not just sitting down in a bank without growing. You can always search up these apps and most of them are more preferable than saving in banks.
I understand your point sir but you are talking about investment using an application,I don't think this is just the right place for you to invest your money because there is a possibility that the company you are investing your money can run away with your money and you will not be able to do anything about it if the company is not from a trust in government organisation.
 

Chibson

VIP Contributor
Knowing how to save money is very important in the life of any individual. Sometimes your savings can come up for you when you are financially empty. There are several ways or methods in which you can use to save money monthly. Cutting down your expenses is one of the methods of saving money from your monthly income. You also need to reduce the kind of money you spend on food items.
 

anil02

Verified member
Our money is safe with bank and government. In India we have many plan to save and invest money with government. Although return is low. But it is principal of investment that if we want to earn more on our investment than we must be take some risk. Safety of money and high return both are not possible. It is on us what we want safety of money of higher return
 
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