Best way to manage money? - page 10.

Positid

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Quote from: achow102 on November 17, 2016, 12:43:28 PM

Quote from: Aamir1 on November 17, 2016, 12:32:21 PM

Quote from: MingLee on November 16, 2016, 07:38:34 PM

If you don't have a budget sheet that you're using yet, then you should get one and get it working. It will help immensely for a majority of the expenses that you would consider and have in your daily life, and definitely helps when it comes to saving money. All you have to do is make sure that your incoming funds don't exceed your budget, and then you can manage your money effectively. Learn from google if you're unsure about a lot of it.

I don't think that needs any special knowledge, everyone knows or should know what they buy with the money they get every month, and writing them down is not a that big problem, so someone should simply write what they need to buy and manage that list every time by reducing the things not needed for managing the budget.

not everyone can record their income and expenses. Some of it is just too lazy to do. They do not even know how much money they have. We need to teach yourself to do it

Or they are just afraid to face the reality? Some are spending more than what they earned which would result them for taking a loans and I have that kind of experience and I tell life is miserable when you are spending more than you earn. We need to instill discipline so we will be able to control our spending and in that way we will be able to save money.

achow102

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Quote from: Aamir1 on November 17, 2016, 12:32:21 PM

Quote from: MingLee on November 16, 2016, 07:38:34 PM

If you don't have a budget sheet that you're using yet, then you should get one and get it working. It will help immensely for a majority of the expenses that you would consider and have in your daily life, and definitely helps when it comes to saving money. All you have to do is make sure that your incoming funds don't exceed your budget, and then you can manage your money effectively. Learn from google if you're unsure about a lot of it.

I don't think that needs any special knowledge, everyone knows or should know what they buy with the money they get every month, and writing them down is not a that big problem, so someone should simply write what they need to buy and manage that list every time by reducing the things not needed for managing the budget.

not everyone can record their income and expenses. Some of it is just too lazy to do. They do not even know how much money they have. We need to teach yourself to do it

Aamir1

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Quote from: MingLee on November 16, 2016, 07:38:34 PM

If you don't have a budget sheet that you're using yet, then you should get one and get it working. It will help immensely for a majority of the expenses that you would consider and have in your daily life, and definitely helps when it comes to saving money. All you have to do is make sure that your incoming funds don't exceed your budget, and then you can manage your money effectively. Learn from google if you're unsure about a lot of it.

I don't think that needs any special knowledge, everyone knows or should know what they buy with the money they get every month, and writing them down is not a that big problem, so someone should simply write what they need to buy and manage that list every time by reducing the things not needed for managing the budget.

CyberKuro

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Quote from: randy8777 on March 16, 2016, 11:34:42 PM

Quote from: tommorisonwebdesign on March 16, 2016, 12:16:10 PM

So I have seen a lot of topics relating to different methods of managing money ("How to earn Bitcoin, "How to save money") and the likes. Now I would like to see what are the best ways people can come up with in regards to managing their money. I find creating a budget is one of the fundamentals of managing money. If you have no records, you can't know exactly how much money you have to spend each month. Another piece of advice I would like to give to people is to not use your credit card unless you're able to pay it off in full at the end of the week.

Any input?

i know exactly what my expenses are. and i also know (more or less) how much i will spend on food and stuff. and a certain part of my salary goes directly to my savings account. as soon as my salary posts in my bank account i know (nearly) exactly how much free money i have to do some nice things with. and from that free money i use around $100 to buy some bitcoins with to store in my cold wallet. i have always been good with my money. i never had a debit card and will never signup for one. it's pure nonsense. people use it to spend money they don't have.

Debit card is such a way of wasting money obviously, I won't suggest you to use these kind of service come from banks.
Randy is one of example who have self control and good at managing his money and even invest some into bitcoin cold wallet.
First of all, you need strong determination of your desire of things to manage properly.
Do not owe money to the bank if you want buy something, you will suffer under your debt for sure.
Savings is most important to future planning
Invest some of your money to create second source income.

South Park

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Quote from: Catlonid on November 16, 2016, 06:15:35 AM

Best way to manage money?

way to manage money if I have much money, I would invest half of my money. besides that, I will save my money on the bank. And if I have much bitcoin I will use bitcoin to trading although trading has a risk, but same I am not spending all bitcoin but only half of all bitcoin, because we must have speculation.

That sounds reasonable but the ratio of saving and investing will depend on your economic situation for the ones who are rich they could invest 95% of their money and have the rest for emergencies and for the ones that are poor then having a greater amount of savings than money invested makes the most sense.

groll

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Quote from: d@nte on November 16, 2016, 06:03:15 PM

Sometimes it's not something easy to do, since many people have too many bills to pay, and this can make it difficult when trying to save money. But there are simple steps that can be taken, helping to reduce expenses, such as making a list of the items you usually buy, and removing those things that are not needed or that can be replaced by cheaper items.

Of course, managing money is not something easy. You need of think of some smart strategies that would be helpful for you so your earnings will not be wasted. Cutting off some expenses is better and making a list of the important ones is a practical thing. But I suggest to those who don't want some budget reduction, that you should should need to have a sideline or an extra source of income. Or you may lessen the amount spent on each budget allotment.

Maslate

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Quote from: MingLee on November 16, 2016, 07:38:34 PM

If you don't have a budget sheet that you're using yet, then you should get one and get it working. It will help immensely for a majority of the expenses that you would consider and have in your daily life, and definitely helps when it comes to saving money. All you have to do is make sure that your incoming funds don't exceed your budget, and then you can manage your money effectively. Learn from google if you're unsure about a lot of it.

That's true, everything should be in written so it would be easy for you to monitor your expenses and your income. If you have a fixed income then it's easy to monitor but when your expenses is not fixed then a budget plan is really necessary, you do not want to end up borrowing money because you are deficit.

MingLee

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If you don't have a budget sheet that you're using yet, then you should get one and get it working. It will help immensely for a majority of the expenses that you would consider and have in your daily life, and definitely helps when it comes to saving money. All you have to do is make sure that your incoming funds don't exceed your budget, and then you can manage your money effectively. Learn from google if you're unsure about a lot of it.

d@nte

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Sometimes it's not something easy to do, since many people have too many bills to pay, and this can make it difficult when trying to save money. But there are simple steps that can be taken, helping to reduce expenses, such as making a list of the items you usually buy, and removing those things that are not needed or that can be replaced by cheaper items.

olubams

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The best ways I know to manage money and I know is universal to every clime of the society irrespective of race or religion are as follows:

- No matter how little you earn, save...

- Never spend your money on wants spend on needs...

- Invest for the future from the little you have

- When your resources is too small, expand your means of income and go back to number 1 above...

(altair)

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Best way to manage money is don't spend if it's not really needed. Like don't buy things you don't need necessarily. Just buy it if you have spare money or your monthly budget won't be compromised. Prioritize what is really needed. Also save some money so if there is an emergency then you will have something to spend.

Catlonid

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Best way to manage money?

way to manage money if I have much money, I would invest half of my money. besides that, I will save my money on the bank. And if I have much bitcoin I will use bitcoin to trading although trading has a risk, but same I am not spending all bitcoin but only half of all bitcoin, because we must have speculation.

daniahya

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Quote from: South Park on November 15, 2016, 04:44:00 PM

Quote from: mirakal on November 12, 2016, 10:25:20 PM

Quote from: South Park on November 12, 2016, 04:06:13 PM

Quote from: katrimans on November 12, 2016, 03:45:22 PM

Quote from: danherbias07 on November 10, 2016, 10:50:06 AM

A lot of my friends are now getting a larger income than me but I see they are still broke and borrowing money to other people.
How come this still happens?
They got so used with their larger income so they are also spending more and buying expensive items with the highest class. Yes it is good because it is branded but for what expense?
Without the right way of managing the money or staying at your the way you are before you receive higher income you could be broke.

Actually your friends had that problem because they do not know how to manage the limited resources they have. It will be a good idea if they undergo into some tutorial or classes that can help learn them some effective money management tips. Without the practice of proper money management, those problems may persist all the times.

One of the problems that I see is in school they teach you about a lot of subjects so in the future you are able to gt money by working but they never teach you how to manage your money which I have always found odd, since you are probably going to work for 30 to 40 years in your life maybe more.

We cannot be rich buy just working, it actually depends on the culture of our country, but I know majority of the people after graduation are just thinking on how to have a wonderful job, only few are thinking of having their own business or company that they will run on their own.

But you don't understand, having you own business is a way to work you just get to keep most of your earnings for yourself, the same is true for trading unless you are using some kind of bot.

better indeed founded his own business because if working with others of our salary is not enough for daily needs that are natural sya well, but if you don't have the capital to set up your own business better did have to save in advance

South Park

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I am terrible at Fantasy Football!!!

Quote from: mirakal on November 12, 2016, 10:25:20 PM

Quote from: South Park on November 12, 2016, 04:06:13 PM

Quote from: katrimans on November 12, 2016, 03:45:22 PM

Quote from: danherbias07 on November 10, 2016, 10:50:06 AM

A lot of my friends are now getting a larger income than me but I see they are still broke and borrowing money to other people.
How come this still happens?
They got so used with their larger income so they are also spending more and buying expensive items with the highest class. Yes it is good because it is branded but for what expense?
Without the right way of managing the money or staying at your the way you are before you receive higher income you could be broke.

Actually your friends had that problem because they do not know how to manage the limited resources they have. It will be a good idea if they undergo into some tutorial or classes that can help learn them some effective money management tips. Without the practice of proper money management, those problems may persist all the times.

One of the problems that I see is in school they teach you about a lot of subjects so in the future you are able to gt money by working but they never teach you how to manage your money which I have always found odd, since you are probably going to work for 30 to 40 years in your life maybe more.

We cannot be rich buy just working, it actually depends on the culture of our country, but I know majority of the people after graduation are just thinking on how to have a wonderful job, only few are thinking of having their own business or company that they will run on their own.

But you don't understand, having you own business is a way to work you just get to keep most of your earnings for yourself, the same is true for trading unless you are using some kind of bot.

Catmony

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- save some of your earning for medical/insurance etc
- save some to invest in precious metals/bitcoin
- try to spend less and save more from your monthly earning

Even saving small amount of your pocket money everyday spending less, can give you significant amount in saving after a year.

KennyR

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Best way to manage money is possible through different method's. Even there are service providers who have been doing the process of managing for pay by generating check list.

Mastsetad

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Quote from: Doamader on November 12, 2016, 11:15:23 AM

The main rule about manage is never spend more then we earn, otherwise we will get into troubles very fast, credit its something easy to get and use, the problem is to repay and cover it, several people has a problem handling those.

Exactly, if i earn around $500 a month but my expenditures cross that amount every month then it would probably create problems for me later on, so i need to cut down my expenses and see if i'm crossing the limit or not and if i'm crossing it then i will have to reduce some of my expenses to make myself safe from extra problems.

DoublerHunter

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One of the best way to start managing money is to set a goal for your action. What is the reason why you want to manage money? Do you want to solve your current financial problem?, That is the few questions that you need to ask to yourself before you start managing your money because if you don't have a strong or valid reason then it will be just a joke for you to start managing your money.

Positid

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Activity: 378

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BULL RUN until 2030

Quote from: serjent05 on November 15, 2016, 04:26:33 AM

Quote from: Babayega31 on November 15, 2016, 04:10:39 AM

Quote from: Japinat on November 14, 2016, 11:19:27 PM

Quote from: transabox on November 14, 2016, 01:53:45 PM

Quote from: upsidedown75 on November 14, 2016, 01:39:46 PM

Quote from: Doamader on November 12, 2016, 11:15:23 AM

The main rule about manage is never spend more then we earn, otherwise we will get into troubles very fast, credit its something easy to get and use, the problem is to repay and cover it, several people has a problem handling those.

I too truelly beieve in that. Always spend less than the amount we do earn and save the rest for the rainy days, don't try to spend more than what you earn because if you do so then I am wondering where you could get to cover for the extra you've spent.
Then it obviously will lead to getting loans. Loans and its interests will spoil our savings and our happily life too.

This is the ideal situation. But sometimes earnings are not enough for all the needs. Especially if they are unplanned. Then you have to look for additional sources of income

It's always good to do both, if you have a good income you still have to leave below your means, in that way you will be able to save money and might have a chance to invest in the future. The problem for most of us here is we change our lifestyle if we have receive a bigger income which is not good IMO.

My way to manage money is i always put the needs of my family into priority in spending my money and the rest of money left is i save it in times of emergency or shortage of budget. I must make sure to it that there is a money saved so that i can avoid loans because it makes us out of savings if we are having debts and that time could result to financial crisis. We must invest our savings for new business which fits to the technology nowadays and think of new business ideas which generates good profit in order to have better future of your family.

Well definitely this should be the right way to manage your money. Though some people put the savings first then fit the rest of the money to their needs. Because for them, giving priority to savings will make you spend your money wisely since there will be a limited budget for the daily needs of the family and with the limited budget, you are able to put the money to the most important stuff rather than spending it to less important things.

A hard way to do but it's the best way, when you can do save first before your spending you are building an attitude of a real businessman that will be successful in the future, that's how they think and they put discipline in everything. They are willing to sacrifice for their future.

john2231

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Quote from: serjent05 on November 15, 2016, 04:26:33 AM

Quote from: Babayega31 on November 15, 2016, 04:10:39 AM

Quote from: Japinat on November 14, 2016, 11:19:27 PM

Quote from: transabox on November 14, 2016, 01:53:45 PM

Quote from: upsidedown75 on November 14, 2016, 01:39:46 PM

Quote from: Doamader on November 12, 2016, 11:15:23 AM

The main rule about manage is never spend more then we earn, otherwise we will get into troubles very fast, credit its something easy to get and use, the problem is to repay and cover it, several people has a problem handling those.

I too truelly beieve in that. Always spend less than the amount we do earn and save the rest for the rainy days, don't try to spend more than what you earn because if you do so then I am wondering where you could get to cover for the extra you've spent.
Then it obviously will lead to getting loans. Loans and its interests will spoil our savings and our happily life too.

This is the ideal situation. But sometimes earnings are not enough for all the needs. Especially if they are unplanned. Then you have to look for additional sources of income

It's always good to do both, if you have a good income you still have to leave below your means, in that way you will be able to save money and might have a chance to invest in the future. The problem for most of us here is we change our lifestyle if we have receive a bigger income which is not good IMO.

My way to manage money is i always put the needs of my family into priority in spending my money and the rest of money left is i save it in times of emergency or shortage of budget. I must make sure to it that there is a money saved so that i can avoid loans because it makes us out of savings if we are having debts and that time could result to financial crisis. We must invest our savings for new business which fits to the technology nowadays and think of new business ideas which generates good profit in order to have better future of your family.

Well definitely this should be the right way to manage your money. Though some people put the savings first then fit the rest of the money to their needs. Because for them, giving priority to savings will make you spend your money wisely since there will be a limited budget for the daily needs of the family and with the limited budget, you are able to put the money to the most important stuff rather than spending it to less important things.

you have the point but for me it is good to save and get some alternative ways to have savings just like here i treating collecting bitcoin as my savings. and having dream in the future if i can a lots of bitcoin i can start a business someday that can be worth it that i can retire to my job.. for now i am saving bitcoin and spending bitcoin if it is really important just like you said.
since i already spend some of bitcoin for marketing purposes or just a small amount of business it gives me good passive income but its not high enough and studying it more to have a good business someday online and retire to my job..
This is i think the best to manage money.. halving part time job for your savings and have a dream.

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