The best way to save

[Moni2402]

Having a plan to save money is essential, but that is not the only important thing for your bank account to grow and improve your national economy.

For this you must follow some steps:

-Control your expenses: earning money costs a lot, but when you have it in your account, money flies, what if?
The first step to start saving is to control your expenses in detail.
If you don't know exactly how much you're spending and on what, it's impossible to optimize savings. Therefore, it is necessary that you spend at least 2 or 3 months recording absolutely all your expenses in an excel spreadsheet.
It may seem like a lot of work, and it is. The answer to how to save money is not to apply some magic tricks, it takes effort.
Nothing good is easy.
Once you have all your expenses for a month, you can group them into categories for an overview and sort them by priority.
The best way to save is to eliminate unnecessary expenses, those that do not contribute much.

- Set your savings priorities: for someone going out to dinner once a week can be essential and for others it may be silly, but going to an expensive gym is a must.
All positions are equally respectable, what is not possible is that everything is a priority.
It is not about eliminating all the little pleasures and living like a poor person, but about moderating expenses and not living like a rich without being rich.

 

[Deleted member 28873]

great points but there are a few more I would like to add:- 1.Eliminate Your Debt
If you're trying to save money through budgeting but still carrying a large debt burden, start with the debt. Not convinced? Add up how much you spend servicing your debt each month, and you'll quickly see. Once you're free from paying interest on your debt, that money can easily be put into savings. A personal line of credit is just one option for consolidating debt so you can better pay it off.
2. Set Savings Goals
One of the best ways to save money is by visualizing what you are saving for. If you need motivation, set saving targets along with a timeline to make it easier to save. Want to buy a house in three years with a 20 percent down payment? Now you have a target and know what you will need to save each month to achieve your goal. 3.pay your self first:-Set up an auto debit from your checking account to your savings account each payday. Whether it's $50 every two weeks or $500, don't cheat yourself out of a healthy long-term savings plan.

 

[Olajidey]

The only way to save up in other to safe you from monthly or yearly debt payment is to follow this simple task, you should have a track record of your expense, know how much you are spending per day or per week, also find a way to cut your spending by cancelling any automatic subscription, cancel any luxurious spending.

 

[Georgeadawara]

Savings is a nice idea alot of people want to learn how to save but they can not save due to some personal reasons.
What mostly stop people from savings is that they lack money management.
Others are due to family problem they can be the only source of income to that family. Which it can really affect the savings status of that individuals .
Sometimes others people always wanted to do what others are doing they want to have what others are having which can badly affect your business. And your capabilities to save.

 

[btaliat]

All these are the basic requirements for saving truly. But we have to consider reasons why saving may be difficult to do. Some people have not even met up with their daily necessities because of the meagre salary they receive. Others have many hands they feed and even some circumstance that we don't plan for happen which save us from saving. But despite all these, we should still try to save but we should not have a specific amount to be saved.

 

[Alexandoy]

I will go for controlling the spending but it is better if what you control is your lifestyle. Stop the vices like smoking cigarette or drinking alcoholic drinks. You can still go out with friends but not too often. As long as the old clothes are still looking decent then there is no reason to buy new clothes especially for women who are fond of new clothes.

 

[Tinaconcept]

For me the best way I save is by curtailing my expenses no matter the situation I will have to discipline myself enough to buy what is necessary for the month that is avoiding extravagant spending. Knowing fully well that if you don't save from your income and a case of emergency surface you will have to borrow

 

[eojo2401]

To save money is not that easy, but you must be determined to save. You must forced yourself to save certain percentage of your income or earn. and you should deduct the amount to save before spending the rest or before appropriating the balance for spending.