Topic: Automating your savings will help you save more - page 2. (Read 1281 times)
This is a good way to stay focus for those that needs it, I think the majority of people find it difficult to save some money and auto savings can come in handy, but not for me, I came from a family that have discipline, I thank my parent for that, they brought me up in such a way that whatever I want to do, without savings I will still get it done, manual savings is pretty normal for me, since I was young I always save up to get whatever I want, even when my parents have all the money they can give, yet they wanted me start taking responsibility myself, that was how I ended up to be a fine man today, if my mind is set on something or a goal I always get it done.
We have to understand that nowadays there are more and more temptations to buy or shop, even though the offline market looks quiet but the online market makes it easy for many people to be tempted to buy, even many things that are bought are not needed so that it can mess up finances, with automatic savings every time month then we can have a good future.
E-commerce has a lot of effect on us as we spend most of our day online. due to which we start visiting e-commerce sites and get interested in shopping. this is a major cause of unnecessary expenses for us and there are many other unnecessary expenses that make saving a lot of trouble for us. on the other hand unemployment rate is very high in our country due to which the monthly income is very low through which it is difficult to cover our expenses for the whole month due to which we cannot save money. everyone wants to save for the future but it is not possible for everyone to implement it 
We have to understand that nowadays there are more and more temptations to buy or shop, even though the offline market looks quiet but the online market makes it easy for many people to be tempted to buy, even many things that are bought are not needed so that it can mess up finances, with automatic savings every time month then we can have a good future.
Having savings will be a life saver in the future because we cannot predict what's gonna be in our future especially we will not be forever healthy always that's why having a savings will be a big help towards preparing for the future. Life insurance and death insurance will become handy and be able well-prepared can bring good decisions in life and not just savings from it but also having savings from investments like crypto will be huge as well preparing for future financial freedom as well.
In my country there is an obligation to pay several types of mandatory contributions such as health, old age, retirement and so on, when we are old, of course, we hope that it will not be difficult anymore, sometimes we have to be forced to save or invest because there are many temptations to waste money because we think we can always make money.
Is the obligation to pay similar to insurance? I think in my country too there is something similar about this. But only for health insurance. Its name is BPJS. where all citizens are required to register or own it. And every month we have to pay for it. But for the lower class citizens the government bears the cost. At least health insurance in my country is enough to help people to get good health services. Although sometimes paid services are more satisfying.Saving and Investing is sometimes quite difficult to get used to, but we really have to force ourselves to these two things. Because as you want, we want our old age to remain in a stable financial condition.
I do love automating stuff in my life, it makes my money work for me without me having to think about it and doing it. It's going to be like "Hey! I already have saved up this money?" What an amazing way to save up money.
I know some banks that have applications on smartphones can automate and make goals for you. That's really amazing if you think about it. Everything is easier now.
I know some banks that have applications on smartphones can automate and make goals for you. That's really amazing if you think about it. Everything is easier now.
Right? It's being responsible without the pressure that normally comes with it cause it's just there, automatically doing it for you. It's honestly a decision I am very thankful for my past self for doing because I can at least be at ease knowing that I am able to save up despite some moment when I think I am spending too much of what I normally have. It's lifesaving in a way and I can surely rely on it for future expenses and needs.
I do love automating stuff in my life, it makes my money work for me without me having to think about it and doing it. It's going to be like "Hey! I already have saved up this money?" What an amazing way to save up money.
I know some banks that have applications on smartphones can automate and make goals for you. That's really amazing if you think about it. Everything is easier now.
I know some banks that have applications on smartphones can automate and make goals for you. That's really amazing if you think about it. Everything is easier now.
Right? It's being responsible without the pressure that normally comes with it cause it's just there, automatically doing it for you. It's honestly a decision I am very thankful for my past self for doing because I can at least be at ease knowing that I am able to save up despite some moment when I think I am spending too much of what I normally have. It's lifesaving in a way and I can surely rely on it for future expenses and needs.
CONCLUSION
Saving money isn't something easy, it comes with determination and self-discipline but with automatic saving one can easily set his/her saving amount at interval.
That is a pretty good advise and I would recommend anybody to follow it that wants to save longterm. If we treat saving as a fixed expenditure like rent, food costs and other expenses, it becomes much easier to take the money away at the start of the month. In case we want to invest our savings in stocks or cryoto currencies it would make sense to automate the process, so that we have less work and don't need to think about. Depending on the country you live in there can be tax advantages for saving also. For example, in my country we can have private retirement funds that are subsidesed by the government and the employers. The money is taken directly from the monthly salary and we don't have to pay taxes on it, it also lowers my overall income and taxes. Additional I get benefits from my company that matches my contribution. The only problem is that I don't have any access to that money until I retire.
In my country there is an obligation to pay several types of mandatory contributions such as health, old age, retirement and so on, when we are old, of course, we hope that it will not be difficult anymore, sometimes we have to be forced to save or invest because there are many temptations to waste money because we think we can always make money.
Strange, then I am one of a kind, I wonder why I can't even satisfy my needs when I have the money, I remember making my first million in my local currency, I was lacking a lot, I don't eat enough, I wore worn clothes and bad sandals, I don't even give a damn, because my focus was so strong that I confused myself that I had nothing, the money was sitting there and u couldn't take a penny off it, until I found a purpose for the money and today, it helped with my foundation of success.
A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
The story of a life journey that is very memorable and at that time we have to experience difficulties so that no one wants to help. Before marriage, I was also in the same problem as you and what's worse close relatives treat us like other people, until in the end I tried hard to collect money slowly and when the money collected I tried my luck in small business. Two years after that my finances were better and in the end I tried to invest in several places.A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
After getting married my life was much better and finances also improved slowly from hard work and when my second child was born there I made a big profit from investment. Our life journey is sometimes full of twists and turns and when we are strong in trying to change there is definitely a chance for the better, although sometimes during the process we go through very hard and difficult because no one wants to help.
People can save some money from each location if they want. Saving depends on the individual. It's not how much you save, but whether you save. People usually save different amounts based on their income. There are many people who do monthly low paying jobs and when they decide to save, they find that at the end of the month they are able to save a small amount of money which makes them disappointed but there is nothing to be disappointed if that small amount is considered a long term calculation. Then it can be seen that if we save little by little, a large amount of money is deposited in our savings account. Every person should think about the future and save for the future according to his ability by thinking about the future.
that is true, each one of us have different savings capability so to speak. you can't expect a low-wage earner to save a large sum of money because usually their money is just right for their basic needs. but it is your choice to save and how much, especially if you can afford to.
of course, it is always best to keep some savings, because you'll never know what will you encounter in the near future.
to earning capability on which it would really be normal that numbers would be entirely different.We dont know on what are the struggles and challenges that they do have in life on which it would
really be that understandable that there are ones who could be able to save up and there are ones who cant because of the needs which they do need to prioritize.
Savings is mandatory but due to the hardship and challenges in life then it is really that possible that we do end up on having no savings because of some more important things.
This is why it would really be that understandable that each situation and condition would be entirely be different to each other.
People can save some money from each location if they want. Saving depends on the individual. It's not how much you save, but whether you save. People usually save different amounts based on their income. There are many people who do monthly low paying jobs and when they decide to save, they find that at the end of the month they are able to save a small amount of money which makes them disappointed but there is nothing to be disappointed if that small amount is considered a long term calculation. Then it can be seen that if we save little by little, a large amount of money is deposited in our savings account. Every person should think about the future and save for the future according to his ability by thinking about the future.
that is true, each one of us have different savings capability so to speak. you can't expect a low-wage earner to save a large sum of money because usually their money is just right for their basic needs. but it is your choice to save and how much, especially if you can afford to.
of course, it is always best to keep some savings, because you'll never know what will you encounter in the near future. but not all people can afford to automate their savings for various reasons.
Strange, then I am one of a kind, I wonder why I can't even satisfy my needs when I have the money, I remember making my first million in my local currency, I was lacking a lot, I don't eat enough, I wore worn clothes and bad sandals, I don't even give a damn, because my focus was so strong that I confused myself that I had nothing, the money was sitting there and u couldn't take a penny off it, until I found a purpose for the money and today, it helped with my foundation of success.
A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
It seems to me that such a restriction is also not very good, what is the point of money if you walk around in old clothes and do not eat properly. You need to keep a balance in everything, you can save money, save as much so that at the same time you can live comfortably, you can buy new clothes for yourself, eat well, then this path will not become burdensome for you.A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
Everyone has their own way and their own understanding of how to do better, but it will take a lot of time to accumulate a lot of capital, and I see no reason to limit myself all this time. It will also form a habit in you, and then it will not be easy for you to start spending money on yourself, you will constantly try to save money on something.
You need to try to increase your earnings, and thereby improve your standard of living. You work and save, you need to reward yourself for this, for a well done job.
And I must say, I think of money as a resource, not a deity to be worshipped. Hoarding money to the point of self-deprivation is as ludicrous as a squirrel starving itself while its stash of acorns goes untouched. We should always strive for balance, my friend. Living within one's means shouldn't mean living poorly. You're spot on when you say we should reward ourselves for our labor. As humans, we're more inclined to repeat behavior that is rewarded - it's in our nature
However, allow me to make a point. Increasing earnings, while noble, isn't always within our control. A better bet might be to focus on growing your savings through smart investments. In the long run, your money will work for you, improving your standard of living while simultaneously satisfying your urge to save. It's the financial version of having your cake and eating it too
People can save some money from each location if they want. Saving depends on the individual. It's not how much you save, but whether you save. People usually save different amounts based on their income. There are many people who do monthly low paying jobs and when they decide to save, they find that at the end of the month they are able to save a small amount of money which makes them disappointed but there is nothing to be disappointed if that small amount is considered a long term calculation. Then it can be seen that if we save little by little, a large amount of money is deposited in our savings account. Every person should think about the future and save for the future according to his ability by thinking about the future.
When we have income, we feel that having fun is the purpose of life that can happen at any time, we are too optimistic that with the monthly salary we get, we don't need to save, let alone invest, so when we have sudden needs, we begin to realize, there are many lessons in life experienced by others so that we can avoid that experience.
This trick is suggested inany blogs. It's undoubtedly working idea and I am personally going to do it. Thanks for reminding me again.
Automating ones savings is essential when you are receiving a reasonable income and not those that goes for a daily hustling unlike my country where they pays a daily hustling for less than $5.5 ~4,000NGN for the whole day and as a woman or man how much do you think you can really save out from this money after removing family expenses or feed for that day.
I think would be more better for those who are being paid hugely like $100 above as salaries, such people may decides to be making savings in an automated way whereby whatever they received as salary got deducted automatically to a specific account where they have no access to it until some duration of year or months.
I think would be more better for those who are being paid hugely like $100 above as salaries, such people may decides to be making savings in an automated way whereby whatever they received as salary got deducted automatically to a specific account where they have no access to it until some duration of year or months.
Exactly, if you save money, you will have more money to save when you have a source of income, however other individuals prefer to invest their money in order to make more money. Saving is typically done for the short term, whereas investing is done for the long term. In the short term, it's a good idea to invest your money rather than save it. Saving is just a normal thing that you can't get anything back from, any amount you keep in a luck key that is the money you will see, but when you invest you will get a high profit back, as for me i would rather invest my money than save it.
So you became rich by investing? Or are you still losing money and looking for another way to cover your investment losses? Investing is the best way to increase our wealth, but there is no guarantee that the investment will definitely bring you a return. It's a bad idea to put all your money into investments and not have any savings because the investment will never be able to help you in emergencies or daily needs. It is quite surprising that until now, many people still do not know the importance of saving.
Investing in real estate is the safest investment, but there is no guarantee you will get a profit in a short time or without loss. What if you invest all your money in land and then you need the money for emergencies like surgery on your loved one? That's when the investment will be useless, and the savings will come into play.
Life is full of surprises, in the past and present, your life is favorable, but it does not mean that your future will always be bright and free of uncertainties. If you have no savings, you will find your life miserable. Even the top billionaires still have millions of dollars in savings, they always leave a backup plan. We should not put ourselves in danger or dead end.
Strange, then I am one of a kind, I wonder why I can't even satisfy my needs when I have the money, I remember making my first million in my local currency, I was lacking a lot, I don't eat enough, I wore worn clothes and bad sandals, I don't even give a damn, because my focus was so strong that I confused myself that I had nothing, the money was sitting there and u couldn't take a penny off it, until I found a purpose for the money and today, it helped with my foundation of success.
A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
It seems to me that such a restriction is also not very good, what is the point of money if you walk around in old clothes and do not eat properly. You need to keep a balance in everything, you can save money, save as much so that at the same time you can live comfortably, you can buy new clothes for yourself, eat well, then this path will not become burdensome for you.A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
Everyone has their own way and their own understanding of how to do better, but it will take a lot of time to accumulate a lot of capital, and I see no reason to limit myself all this time. It will also form a habit in you, and then it will not be easy for you to start spending money on yourself, you will constantly try to save money on something.
You need to try to increase your earnings, and thereby improve your standard of living. You work and save, you need to reward yourself for this, for a well done job.
Strange, then I am one of a kind, I wonder why I can't even satisfy my needs when I have the money, I remember making my first million in my local currency, I was lacking a lot, I don't eat enough, I wore worn clothes and bad sandals, I don't even give a damn, because my focus was so strong that I confused myself that I had nothing, the money was sitting there and u couldn't take a penny off it, until I found a purpose for the money and today, it helped with my foundation of success.
A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
A strong determination won't interfere with where you are going, even if you are lacking some needs at the moment, this was my story.
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