How Should You Save Money from Earnings?

MOSIUR

Verified member
Saving money is one of the most tactful deeds in human life. It is undoubtedly a good deed in life because we are to face a financial problem at any time. If we have the habit of saving money in some ways, it will be a very plus point adding to life. Those who are matured, are certainly doing some works.

As an employee or a worker, If you want to have money in time of danger in life, what should you do? At first, you should decide at any circumstances you shall save money. In the second phase, you should think how much you shall save per day or per week or per month and it should be from your earnings because you will certainly get a salary every month. The person getting payment monthly, can save money monthly.

On the other hand, those who get money every day or every week, can save money in respective ways. If you are determined to save money, you can save everyday. Whenever you buy anything from anywhere, there is left some money, you can save it in a fixed place. At the end of the month, you will get a lot of money. You will never spend this money on any day unless you are in great problem. In this way, savings will be a great help for you.

What do you think of this issue?
 

Chibson

VIP Contributor
I always advise people to save certain percentage of their income because sometimes unforeseen situation may arise and you need money to solve them. I use the method of saving 30% of my monthly income and investing about 50%. I use the rest source of mine immediate problems and other stuffs.
 
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kayode10

VIP Contributor
I divided my income into three equal parts. about 30% of the money goes into savings before anything else. The second 30% goes back into the business that brings the money. I am going to spend the remaining 30% on my immediate expense. I follow this strictly evening when I am in need of money pay bills.
 
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Chibson

VIP Contributor
I divided minds into three equal parts. about 30% of the money goes into savings before anything else. The second 30% goes back into the business that brings the money. I am going to spend the remaining 30% on my immediate expense. I follow this strictly evening when I am in need of money pay bills.
This is a very good method that you can use to save a whole lot of money. Financial Management is always very important for anyone that really wants to become successful in life and achieve a whole lot of things. Investing certain percentage of your monthly income is very important because it can go a long way in the future.
 
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kayode10

VIP Contributor
@Chibson money management skill is very important especially during the present time when money is very scarce to get. To be very honest it is very hard to save any money this time around. It will require great discipline on oneself before you can decide to save. Most times the remaining can be very hard to manage.
 
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lamia5765

Valued Contributor
How much you will be saved per day can be determined the first time but expenses are unpredictable because sometimes you are planning to save this target by end of the month. There are calculations made before saving however these are just predictions based on previous experience. What is happening after can differ totally from what is predicted to the expense and save. So it is not the end of the world to save less than the target.
 
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kayode10

VIP Contributor
Some people usually complain that they found it difficult to save out of the income they are realising. The problem is that they are the one paying themselves last after paying everyone else out of the money. They usually have nothing left to pay themselves after engaging in lot of expenditures. first take away the savings and base your expenses on the rest of the money.
 
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Abigael

Valued Contributor
I think it is very important for one to adopt a saving culture as soon as they start earning. You can set up a certain percentage that you promise yourself that you will save each month. Then with self discipline,you can start saving that amount. It does not have to be for a specific thing, you can just call it an emergency savings plan.
 
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