Topic: Best way to manage money? - page 46. (Read 61099 times)

I think that you should just save all your money. Cut your spendings by only buying what you need. I feel that that is the best way to manage your money.

It is very hard for me to manage the money most especially if you are living in my country. Expenses are mostly covered all the way once you receive your salary every two weeks. Managing money in this place is very difficult for me and it almost take out all of my salary and with the fact that i have to borrow. I set up also a budget until my next pay. I have also take down all the expenses I am doing everyday at work and I refuse to have a credit card. I bought very light meal everyday and do not spend money for things that I don't need. This is very important for me to manage my own money.

You have to store your Bitcoins now around this time and that is because it will be much better if you are going to sell it in the future so you can also earn more profit with it and that is nice.
But you need to also save it for a long time because it can takes a long time until it will have a higher value.

yeah it would be nice to you if you could divide in accordance with their respective functions I myself only use two wallets. desktop bitcoin wallet to put me that I made to the investment and the other is an online wallet wallet used for frequent transactions. so I split btcoin in two purses. easy enough

The best way to manage your money is keep track of your cash flow, in that sense you can make an analysis on which portion of your income and spending the best way to adjust. If you can do that,  you can now segregate your income by diversifying with different investment and your priority should be investing in bitcoins.

have another source of income, dont focus on just one.

Here's what i found that works for me..  Create a real budget for bills written out.. Buy a small safe to keep hidden somewhere, the key code kind. Have a bank account, but just for debit card occasions, where you can't use cash. Which for me is almost never. Keep all your money in cash, not in the bank. Keep in the bank what you have to, to keep it open. Pay cash for everything. Destroy all your credit cards..  Never ever use them.. The only time i've ever needed one was renting a car. Some will now allow debit cards. The rule here is simple.. By paying in cash for everything you can never go in debt. You can't spend what you don't have! Sleep well at night. Each month separate your money into 3 piles. Bills,  spending money, and savings. I call savings/ overstock.. you can dip into it if necessary.    Try, and save as much as you can each month. Save up pay cash for your car. Never buy new, huge waste.  Buy something nice, but dependable. Think Toyota, or Lexus  or even a Denali.  Used I've bought $5k cars, that were nicer than $12-14k cars. Just figure out what you want, search craigslist 24/7. A real deal shows up a few times a year. You have to be patience, and have the cash to pounce when it appears. Another key to this is never have a debt other than living expenses. Thats it.. Your only bills should be just what you have to live on. Meaning electric, water, rent, insurance.   Each month, roll you overstock out of your safe into a nest egg fund. Keep that somewhere else, and try and forget about it.  I would then identify several investments that meet your goals. Like gold, and silver coins or bitcoin or possibly some stocks. I tend to stick to things I know .. Your first order of business investment is two fold.  1st is getting enough money  to pay for a house in cash, or to pay your house off, early as you can. So when your investing keep this in mind. The main reason for owning your house is.. It's your biggest expense. Once you have your house paid for, you can flip that months amount into your retirement investment fund.  Thats the gist of it. I've found this method keeps me out of trouble, and advancing in my goals.

You must dont have to be greedy otherwise you are going to lose some money and than you are addicted to it and than the chance will be high that you will lose some money.
And the most important to manage your money is that you have to save it for later also.

There's no one best way to manage money. People with different habits will have different ways to manage money. There are just guides that one could follow, and base how they'd come up with strategies to manage what they have. People from different classes will always have different ways to do it.

Investment is really important aside from savings, by investing your money, it will earn with a little interest or if your invested it in bitcoins you might earn big in the future. You have to save also and not just invest all your money, your savings you compose of fund for emergencies and leisure expenses.

The best method to manage your money is that you have to know that you must also save some money for later so you are not losing that much money.
And if you want to earn money you have to make an investment and that is nice for the future.

Best way to manege your money is just to invest some of your money if you
can effort it on that period. if you cant effort to invest then you need to save some money. everyone needs to do something.

You just need to store it on a cold storage wallet and the easiest thing to manage it. That separate the wallet address for your cold storage and
for the wallet that you are going to use for buying.

Yeah, saving at the same time investing can also help, it your keep your bitcoins in a wallet then overtime the value will grow, I think that is the wisest decision for now.

I just store some in my wallets and keep maybe 1 BTC for casual spending, gambling, trading ... etc. The rest of my Bitcoin is stored, hopefully, safely in my wallets.

That's what I'm talking about, I salute you sir for having your own, although majority of us here does not track our expenses and income regularly that is why sometimes we ran out money. We should treat our income as we have a own business, if we can do that then we should make a detailed report of our cash flow so we can see what is the real movement of our money.

I make a detailed excel spreadsheet with categories of spending each month.  I take an average of spending and average income and compare over a 12 month period and a 5 year period.  This helps make sure that over the short term and long term I am not spending too much relative to my income.

managing money does not mean that you will be managing it right as you will surely have to spend it somewhere so it depends more on such stuff as calculating more on how much you can spend

in my opinion the best way to manage your money is to hire something like a fund organizer who would help you make a good strategy on how much money you should spend

The best way to manage money is by saving some amount of our money and don't spend it, and also studying well before investing or making trades and deals so we can minimize the losing

Yes that is the best way to keep track of your expenses as you will have a clear picture where you are spending more so that you can reduce it in future.