Best way to manage money? - page 51.

ajun96

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Quote from: michietn94 on April 12, 2016, 01:32:31 AM

When I've earn some money , I try to keep / invest about 20% from montly salary. I try to less spending that only worth for me so I can keep more money on future.
You can write down every expense on the book so you can manage more carefully

why many people when managing their finances. add options to manage financial investment?
is it they have got a steady income from his work right? why should still invest?
better collect and store all of your money each month from the salary. maybe you can become rich by several years

WhatTheGox

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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?

Totally with you on keeping a budget. I was brought up to never take credit (which I'm quite proud in, although I'm sure many would think me daft to not take advantage of the companies willing to give me free money). I don't have a mortgage, never use HP to purchase anything and stick to using the small budget I allow myself as 'pocket money' each month.

Pocket money is important, we all need to let loose a bit sometime!

Best ways I'd advise?
1. keep records - a diary or calendar that has many areas for General Bills, Food shopping, Planned excursions.
2. have a holiday/fun money fund and keep count of how much is in it.
3. Use online auctions, car boot sales, jumbles/garage sales and earn money off your old junk. Use this as the income generator for that holiday fund. I believe holidays are not a necessary so make yourself earn them!

BeGoods

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Quote from: angryrob on April 08, 2016, 08:34:29 PM

Quote from: traderbit on April 08, 2016, 05:23:31 PM

Quote from: KennyR on April 08, 2016, 09:13:16 AM

Quote from: Corenin on April 07, 2016, 05:37:24 PM

Whatever salary I am earning I am saving a part of it and rest investing in multiple products as I am sure investment will be profitable in long run and saving will help me in emergencies.

Investment will be profitable but when you invest a part of the income into bitcoin, sure you will earn more than other forms of investment.

Investing in bitcoin doesn't mean that you will earn more than other forms of investment, because investing in bitcoin the earnings will take few months or few years until you make a good earning from it, unless you include trading.

yes you are right trading is good for quick make more profit & some time its taking long time and some time it make quick loose but investment is always right there are no any risk and its always giving profit, now I am going to invest my all money.

to be able to save money is good you should be able to do the distribution right for the money you're going to invest and save. of course it depends on your wish. we are not talking at a profit
but the division is good think to save money and investment or the like. It also includes financial management

MaritiJames3

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Always save a part of your income even if it is a small percentage. Pay all your bills so you do not have to worry about that. Then split your money and see how much you can spend per week and do not go over that.

ronaldo40

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Quote from: maxj57634 on April 12, 2016, 02:04:57 AM

Quote from: michietn94 on April 12, 2016, 01:32:31 AM

When I've earn some money , I try to keep / invest about 20% from montly salary. I try to less spending that only worth for me so I can keep more money on future.
You can write down every expense on the book so you can manage more carefully

Yes managing and writing what you need will help you save money and unnecessary expenses,you need to know what you need most so that you can manage your money.

I am not married, so I did not a lot of expenditure and I prefer to invest. but not all, because it was quite risky. 60% invest 40% Save

maxj57634

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Quote from: michietn94 on April 12, 2016, 01:32:31 AM

When I've earn some money , I try to keep / invest about 20% from montly salary. I try to less spending that only worth for me so I can keep more money on future.
You can write down every expense on the book so you can manage more carefully

Yes managing and writing what you need will help you save money and unnecessary expenses,you need to know what you need most so that you can manage your money.

michietn94

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When I've earn some money , I try to keep / invest about 20% from montly salary. I try to less spending that only worth for me so I can keep more money on future.
You can write down every expense on the book so you can manage more carefully

armansolis593

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Quote from: MTBTT on April 12, 2016, 12:46:40 AM

Quote from: BitsandBites on April 11, 2016, 09:56:02 AM

Just know how much money you are going to receive from your job and other things. Pay all your bills. The rest of the money a part of it you put in your savings. The rest is for you to spend.

yeah Sure you have the rest of your wages that have been cut off by your need everyday like eating and so on.
keep the rest of the money. do not be too extravagant. it would be helpful

Knowing what to buy will help you manage your money,do a list for a month of expenses so that you will know on what and where your money will be going.

MTBTT

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Quote from: BitsandBites on April 11, 2016, 09:56:02 AM

Just know how much money you are going to receive from your job and other things. Pay all your bills. The rest of the money a part of it you put in your savings. The rest is for you to spend.

yeah Sure you have the rest of your wages that have been cut off by your need everyday like eating and so on.
keep the rest of the money. do not be too extravagant. it would be helpful

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Quote from: Vaskiy on April 11, 2016, 09:44:00 PM

Quote from: BitsandBites on April 11, 2016, 09:56:02 AM

Just know how much money you are going to receive from your job and other things. Pay all your bills. The rest of the money a part of it you put in your savings. The rest is for you to spend.

Yeah right first make a budget and put portion of money from your salary in your savings, then accordingly spend rest of the money for other expenses.

may save more money and use less is good money management, it can make you save more money, perhaps use the money that get 30% of your income and save 70%

draceus

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Quote from: ronaldinho_07 on April 10, 2016, 12:25:44 PM

Well if you have an objective you will achieve it ,and sure the tentacion to spend or use those money will always come,being a new phone,a new car,the thing is you must have some strong objective.Soo all months you go to the bank and put the economy out of your hands.

yes I agree with you friend when you need any custom any clothes any thing that time you can manage from bitcoin . when use bitcoin that time customer feel good in heart because when they use bitcoin that time no any problem came near customer.

Cloverdale

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Let' say that you have your salary in your hands, before spending all your money at things you want and need, first, save the 20% of your total salary. Save it and never touch it. Now, with the remaining 80% divide it for the things that you need to spend it to. Do not be tempted in touching the 20% you saved. Do your best to with the 80% to be enough with all your expenses.

Vaskiy

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Quote from: BitsandBites on April 11, 2016, 09:56:02 AM

Just know how much money you are going to receive from your job and other things. Pay all your bills. The rest of the money a part of it you put in your savings. The rest is for you to spend.

Yeah right first make a budget and put portion of money from your salary in your savings, then accordingly spend rest of the money for other expenses.

BitsandBites

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Just know how much money you are going to receive from your job and other things. Pay all your bills. The rest of the money a part of it you put in your savings. The rest is for you to spend.

malzahar

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Quote from: ronaldinho_07 on April 10, 2016, 12:25:44 PM

Well if you have an objective you will achieve it ,and sure the tentacion to spend or use those money will always come,being a new phone,a new car,the thing is you must have some strong objective.Soo all months you go to the bank and put the economy out of your hands.

I can see peoples objectives only done, if they do it right and be smart about it.

People doing neither of those things and sticking to buying new crap all the time dont really have a solid plan.

Eg: getting rid of a car entirely to see the math calculation between owning vs just using uber on a limited mileage yearly basis.

ronaldinho_07

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Well if you have an objective you will achieve it ,and sure the tentacion to spend or use those money will always come,being a new phone,a new car,the thing is you must have some strong objective.Soo all months you go to the bank and put the economy out of your hands.

bamboylee

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Quote from: RealPhotoshoper on April 07, 2016, 06:27:42 AM

Quote from: Wapinter on April 06, 2016, 05:09:22 PM

Saving and investment is an integral part of wise money management.One should save at least 20% of his earnings for future and if possible invest 10% in some good business opportunity.Bitcoin is certainly one of them

I do 15% of my salary invested in bitcoin and another 15% savings for future needs and i feel it was my best to manage money, try this.
The most important to manage your money is to stick to the rules , don't stop in the middle. Keep it up until the end of plan.

But it is the hard part, sticking to the plan til the end. Sometimes you earn so much you get tempted to use the money. Or sometimes you get tired of saving. You need to have the discipline to pursue your plan so you can manage your money properly.

nejibens

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Best way to manage money by saving some parts and also trying to invest good amounts to increase the earnings

Hellacopter

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Try to save some of your salary or earnings monthly, and invest good part as well. The investment is very important to make profit and to increase your income with time slowly. Bitcoin have good potential right now, you can buy some bitcoins and hold it.

arbitrage

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Savings money is really necessary, but on the other hand money is only good when earnins more money for you. So after all, investing money is probably best solution. Bitcoin, silver,gold, doesn't matter, everything is better then paper, even paper wallet Wink

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