Saving Money How to Save Money From Salary and Avoid Credit Card Debt

[Ejiros]

If you are like most people today, you are probably wondering how to budget and save money from your salary. You are probably also wondering how to do this while keeping things in balance. Well, saving money from your salaries should begin from that first paycheck of the year. Do not fall into the trap of saving only until the next monthly paycheck either.

Instead, make the switch and start saving early. The earlier you start, the better off you will be. Once you have a little extra each month, you can use it to pay off those high-interest credit card debts or maybe even put some of it aside for that college education of your son or daughter. This is how you can start saving half your income when you figure out how to budget and save.

Remember, it is always easier to do something now, rather than waiting until it is too late. If you want to be successful in the new economy, saving and budgeting are going to be your new financial goals. Figure out what kind of lifestyle you want to live every month. You can have a two-income family and still live well, or you can have an income just enough to get by. When you have determined these financial goals, start planning how to reach them and set a savings goal and work toward that goal on a weekly basis.

 

[arunima25]

You have made a very good post. Saving habit should be inculcated as early as possible. The sooner the better it is. And a meticulous financial planning and budgeting is a must. It is actually a skill to do that and one can always improvise there.

 

[Ejiros]

You have made a very good post. Saving habit should be inculcated as early as possible. The sooner the better it is. And a meticulous financial planning and budgeting is a must. It is actually a skill to do that and one can always improvise there.

I have always love to save money.

 

[arunima25]

It's a good habit to save. Whatever be your earning amount, a part of it should go to your savings bucket. When I plan my finances, I make various buckets and put my money in them... expenses, savings for my daughters education, money kept aside for loans etc and other than the savings and investments that we do through bank and schemes, I try to keep aside a bit every month for emergency fund. They come handy in rainy days and I don't need to break any of my funds to save us from rainy days. I feel that having a well thought budget and a saving plan helps in long run.

 

[funmi]

Saving from the salary is not really an easy task but one must save no matter how little the income which is the salary may be. Without saving it will be very impossible to carry out major projects in the family. In fact, if you don't have that saving culture,one might get indebted before the end. More so,knowing your pressing needs and not pressing needs is very important.

 

[Alexandoy]

This topic is very good for the younger generation who do not have the habit of saving. Start now by saving 1 dollar every week that you can progress later on to 2 dollars or maybe more. What's important in building up the habit of saving is the regularity. Do not miss saving an amount into your "piggy bank" that can be an empty box or biscuit can.

 

[arunima25]

This topic is very good for the younger generation who do not have the habit of saving. Start now by saving 1 dollar every week that you can progress later on to 2 dollars or maybe more. What's important in building up the habit of saving is the regularity. Do not miss saving an amount into your "piggy bank" that can be an empty box or biscuit can.

I totally agree there. ,I have found that the younger generation finds it a very conservative and traditional thought to keep a part of earning as saving. They want to grow money fast and end up putting all the extra money that is left from salary for investments involving risk. And many a time that might not be the wise thing to do when you are in the early stage of earning and not save enough to lose. So they should start with saving and when they have enough to risk and loose, they can put a part of it in risk involving investments that might click or not click.

 

[Setho]

If you will want to start saving a lot of money from the money that you receive monthly as salary then the first thing you should try to do is to try to reduce the things that you spend money on. You should try making a budget of your recurring expenditure and then remove things that you do not need.

 

[btaliat]

There are many methods people have adopted in order to save for the future. There are some applications online that help one on how to save effectively. Not only that there are some thrift collectors that one can keep money with. But for me, I always save first from my salary before I spend.

 

[Sotherefore]

All I will say is that it will require discipline because that is what will determine your decision making. A lot of people find it very difficult to stay without being in debt because they have different ways of getting this money easily and for them to be discipline to stand their ground not to get this loan is what turns out to be difficult.

Living below our budget is the things we should try as much as possible to achieve because that is what will determine if we are really serious to avoid debt or not .

A lot of people who are living above their budget will always look for an extra way to cover up the extra responsibilities and expensive they have put up on themself and this is what resulted in getting loans and being in-depth most of the time. which is not the best option.

 

[Jacksonjnr]

For me I think if you want to save perfectly, you must not have a card from that particular account because if you so you might start looking at the saving one by one.
Plan yourself, be contented.