How to Save Money?

Samuel72

Verified member
as a family man I suggest you make schedule on how you spend money or you can also keep a budgets on what you are going to do for the month. With this idea you can start saving more, and also for you to save money you also need to reduce your expenses, you need to learn how to hold back on some things that are not necessary
 

anil02

Verified member
as a family man I suggest you make schedule on how you spend money or you can also keep a budgets on what you are going to do for the month. With this idea you can start saving more, and also for you to save money you also need to reduce your expenses, you need to learn how to hold back on some things that are not necessary
Yes you are right planning of how to spend earning is must. If some one have fixed and regular earning than it is not tough work. It is very easy for employees who are getting salary every month. One more thing I like to say that we must be treat our saving as our gorccery and other bills.
 

anil02

Verified member
One must be save to meet the future emergencies. Future is uncertain and in emergency if we have money in hand it will give us too much relief. Saving is habit of we Indian. If you want to save than treat your saving as your grocery bill.
 

astraherondale

New member
Perhaps it would help if you strictly allocate a portion of your salary for your monthly savings. Limit splurging and try to spend your money more wisely too. Prioritize the things you actually need over the things you want. Avoid buying expensive items on impulse - ask yourself first if you absolutely need it and if so, is it worth its price tag or are there cheaper options? Try postponing your purchase for a day or two, maybe you'll change your mind and realize you didn't need it in the first place. You can treat yourself with a splurge every once in a while, but only to a limited extent. Think of a future goal - maybe you want to buy land, a car, or invest? Use it to motivate yourself to manage your money more wisely. Hope I helped!
 

fastvideolikes

New member
Perhaps it would help if you strictly allocate a portion of your salary for your monthly savings. Limit splurging and try to spend your money more wisely too. Prioritize the things you actually need over the things you want. Avoid buying expensive items on impulse - ask yourself first if you absolutely need it and if so, is it worth its price tag or are there cheaper options? Try postponing your purchase for a day or two, maybe you'll change your mind and realize you didn't need it in the first place. You can treat yourself with a splurge every once in a while, but only to a limited extent. Think of a future goal - maybe you want to buy land, a car, or invest? Use it to motivate yourself to manage your money more wisely. Hope I helped!

I agree with your valuable information. ou can share correct information to save money.
 
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infinitytech

Guest
To save money,first you have to start earning a great amount and then you can start thinking of saving else you’ll lag behind in needs!
 

MommySaver

New member
Perhaps it would help if you strictly allocate a portion of your salary for your monthly savings. Limit splurging and try to spend your money more wisely too. Prioritize the things you actually need over the things you want. Avoid buying expensive items on impulse - ask yourself first if you absolutely need it and if so, is it worth its price tag or are there cheaper options? Try postponing your purchase for a day or two, maybe you'll change your mind and realize you didn't need it in the first place. You can treat yourself with a splurge every once in a while, but only to a limited extent. Think of a future goal - maybe you want to buy land, a car, or invest? Use it to motivate yourself to manage your money more wisely. Hope I helped!
Thanks for your advice. Monthly savings has become a necessity now-a-days!
 

Augusta

VIP Contributor
For me saving money first needs some determination to achieve it. Resolve to save money and put into action. Start by keeping a good percent of your income or other revenue maybe in a fixed deposit which will be for a period of time to avoid withdrawing it early. You can also get a saving box and keep away at least a dollar daily for about 6-12 months. You can also buy an asset that you can sell off in the investment when the value has appreciated.
 

andrasnys

New member
Try things the other way around! Let me explain.

The normal guy will do things in this order. Get salary-Buy something,Pay rent,Buy some more , and then try to save.
Just do the opposite, every month you put away what you can as soon as you get your salary and then you can buy something for yourself. , and believe me you can stash away more then you think . "humans adapts":D

The most Important thing is to change 2 mindsets. HAVE HAVE HAVE and teach yourself that you are worth to invest in.Maybe a basic thing , but most people honestly dont think they deserve to be rich /feel good/and that money is evil. This is rooted way down in us. But when you get conscious of yourself worth everything changes, and you will be rich in so many ways !

Andreas
 

Ephy

Active member
Saving money sometimes is hard but also its important for one to be saving money. You can save using different methods like opening a fixed account.

Set your goals and target to achieve at the end of the period set. Make sure you try your best if you can't save daily then make a target that you can save weekly. And make sure you always hit the target if not the balance in carried forward and you struggle to pay or save it.

Another way you can use pig banks to save little money like coins. Also this method favors kids mostly.

Those using Mpesa can save into there Mshwari accounts this mostly available in Kenya for the safaricom users. Or you can as well use airtel money for those using airtel.

Another way of saving money is by investing into businesses this is the best way in that it will generate more income and profits. Investments multiply the money used to be more than before but you must invest in a profitable business hence work hard to get profits and avoid losses.
 
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Deleted member 26312

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.
To save one needs to beat temptation, like beat temptation real time.. Because once the urge of temptation is gone you tend to save for a longer period of time... And again you cannot save if you are not financially okay, like when you have alot of responsibilities to take care of or handle. You can only save when you are financially stable.. Because the unstable person would only challenged by different challenges.. Thanks
 

Josemendez

Verified member
I think first you need to understand the difference between want and needs , and be able to spend mainly on your needs.

This will help your curtail your expenses. You need to compare you monthly income with your responsibilities , and if it seems that your family responsibilities is almost taking away your income , then you need to look for a second source of income to complement your present monthly earning.

You can also follow the 50-30-20 rule that gives 50% to needs ,30% to wants and 20% to savings. if 20% for savings is quite small because of the amount you earn monthly , then you need to adjust the wants percentage
 

Abigael

Valued Contributor
One of the main pointers to saving money when it comes to family money is budgetting. You should have a clear budget containing all the bills you need to pay and all the expenses you need to spend. I find that having a monthly budget is very helpful and doing bulky shopping saves you more money than buying things in small quantities. Also, you should define well your needs and wants so that you don't spend so much money buying unimportant things. Then of course you should have a savings account where you put the money that remains after spending on your expenses and bills.
 

Kakashi2020

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.
 

BuchiBankz

New member
The first step to start saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip.

Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Use your credit card and bank statements to make sure you’re accurate—and don’t forget any.
 

Nii41

Member
Saving money can be difficult when you have alot of responsibilities, but regardless, a guide on how to save money is how you plan for your responsibilities and things you may need to take care of. Once you receive your salary, take 20% out of it to save in a place you cant touch it, probably a fixed account. Use 50% for your basic needs and bills for that month. Keep the remaining 30% for miscellaneous and emergency needs. Always ensure that the percentage for your savings for every month does not go below 20%. One has to have self discipline inorder to achieve all this.
 

Roysnickz

New 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.
Saving is major challenge to almost all low income earners, and not just you.
It's usually difficult to save when you don't have enough to provide for the immediate family needs.
You will have to device a plan to make saving the first and Paramount thing after earning before embarking on spending.
That it, you don't have to be saving what is left after spending but be rather spending what is left after saving.
 

Mataracy

VIP Contributor
I will advise you to connect your salary Account so that before you received money part of the money would enter the separate account and make sure you don't have ATM of the account with you and no Transfers access code to it so tat you will not be tempt to make withdrew from the saved.
And you must be decipling
 

Maks25

Active member
The thing is if you don’t learn to manage your money, you might just spend it all without knowing exactly what you’ve spent it on.

A good way to manage your income is by saving and investing part of it, that way you will be able yo have extra funds asides what you earn and you can use it for some other projects.

One thing you should take with you in this post is that you shouldn’t spend more than you earn, I know you’ve heard this a lot of time but I’m reemphasizing it because that’s one of the main principles of financial success.
 

Victor001

Active member
How to save money is a very key topic in the state of living of every individual.
The necessity of daily expenses can not be over emphasized, but one needs a certain level of discipline to deal with the affairs money. Know your assets, know your liabilities and try to balance it with your income.your total expenditure should be less than your income and this calculation must be done on daily basis.
 
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