Saving Money How Do You Balance Spending And Saving?

[Teatea]

Planning your finances, spending and saving while also trying to enjoy life may seem like too many goals at the same time. There is this sense of excitement that comes when you get your paycheck or profit, you want to save and invest but you also have some shining things you have been eyeing at the store.
Having a money management plan or a budget is the way out in situations like this. It could be a plan on a notebook, diary, or even a mobile app, you can try anything that helps you stay on top of your finances.
How do you balance your spending without affecting your savings?

 

[Maphalle]

The most important is to budget. That's the only weapon which can help you balance the two because if you will spend without budgeting, you will not be able to save any money.

 

[Georgeadawara]

Many people find difficulty in balancing spending and earning as of me I now that when you have a goal to achieve you will always learn how to save to achieve your goals.
I also. Have a fixed percentag of my daily earning to save that percentage is un touch. Am I save it in a place that I can touch it because it have a time limit before touching it.

 

[Victor001]

Saving and spending are the two ways that can never add extra income, set your priority straight when saving and when spending, discipline yourself not to blend to the ease of spending against savings.most times we see the money as always been sufficient, but it's always in place to think ahead in the direction that things my not go according to plan.

 

[olubenson]

Spending and savings can sound contradictory, though its a normal phenomena in each and everyone's life, both young and old, daily earners and monthly earners. Its natural for humans to have a lists of needs and wants . the difference between are their priorities .
A sensible worker must learn to save money . Its like the rule of a thumb "Make sure you save 50% of your monthly pay".

With this percentage in savings, you would have balanced out your spending, and be ready for any high waters.

 

[Samuel72]

According to my own point of view as a well experienced business man I will say if you are about to balance your spending and saving, you will have to look at your income rate then you can prepare a schedule in which you are going to use in spending or you can also prepare a budget which will guide you on your spending for the month or for the year. Every business man is supposed to have a budget which will guide him on his to spending, either for the year or for the month

 

[Hena101]

As long as one is ready and have something in mind to achieved. Balancing spending and saving will be easy for him. Because whenever there is a goal working toward achieving it will make one to know what to spend unnecessarily and what to save to the actualisation of his set goal. So for me the simple way of balancing spending and saving is for one to have goal set to achieve this can really help a lot

 

[Godslamp]

Saving is a process of setting aside a part of income for future use, or the flow of resources accumulated in this way over a given period of time. Saving may take the form of increases in bank deposits, purchases of securities, or increased cash holdings. For some people, financial struggles are due to not bringing in enough money. For many others, though, the problem comes from not spending money wisely or from spending more money than they make

 

[Kingsley]

Balancing savings and spending can be very tricky but it is not impossible, infact the best way to achieve this is to have a proper plan. One must list out all the necessary needs on a scale of preference and begin to select the pressing needs after itemizing it on a scale of preference by so doing it will help to minimize the money that goes into unnecessary expenditures.

 

[Planet408]

Balancing between saving and spending is not always easy because at times, I go back to the money I already saved because of one thing or the order which I really need to tackle immediately. Be it as it may, I still try my best to get it balanced by paying back to myself the money I borrowed from my self. That's how I do it.

 

[Adetayo100]

So many people find it very hard to find a middle ground between spending and saving, it is so hard to save money while your income is very little or your expenses out weigh your income. But there is a way you can do this by saving 25% of your monthly income and by the end of the year it would have been worth something.

 

[IamDozzy]

The principle of balancing spending and savings is very easy. Always make sure your income is less than your expenses vice versa. Once you are able to do this I can assure you that you are ready to start saving. Avoid spending on things that aren't so important or urgent. For example, if you phone is still good and can still last a year then it's not complusory you buy the latest phones. Always spend on things that are necessary.

 

[Deleted member 27126]

Planning your finances, spending and saving while also trying to enjoy life may seem like too many goals at the same time. There is this sense of excitement that comes when you get your paycheck or profit, you want to save and invest but you also have some shining things you have been eyeing at the store.
Having a money management plan or a budget is the way out in situations like this. It could be a plan on a notebook, diary, or even a mobile app, you can try anything that helps you stay on top of your finances.
How do you balance your spending without affecting your savings?

As it is always said and taught in business and financial management, spend after you have saved not that you should save after you have spent. Savings and spending are two opposite ideas truth be told. So anyone who wants to achieve a financial freedom must be able to know how to balance savings and spending without knew affecting the other. It is even better that savings should affect your spending not that spending will affect your savings. Save more spend less.

 

[Alexandoy]

When I was younger that is my main problem - spending is always ahead of the savings. My savings usually are in trickles while my spending would overstep sometimes that I would have a loan to pay back. But in my older years I have learned to be frugal as to control my spending. If it is not a necessity I think twice before buying.