Best way to manage money? - page 58.

Yakamoto

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Quote from: fiatvacation on March 17, 2016, 11:27:02 PM

Quote from: BitTyro on March 17, 2016, 10:04:40 PM

Managing one's finances is kinda hard specially if you are on a tight budget. But if your are really serious to do such, you need to seek advice, don’t feel ashamed to seek support from others. Seek advice from a financial expert who will have a lot of experience dealing with problems like yours. Your financial adviser will come up with a realistic plan to help you sort out any money difficulties.

Personally I use Reddit, and if you're ever having a hard time I would recommend checking out /r/personalfinance. They seem to have helped a lot of people save more of their money and get rid of their debt quicker than a lot of people would be able to.

I've occasionally used Reddit, but I've never really found the appeal of it.

Maybe someone could try You Need A Budget if they are having a really hard time trying to manage their funds?

fiatvacation

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Quote from: BitTyro on March 17, 2016, 10:04:40 PM

Managing one's finances is kinda hard specially if you are on a tight budget. But if your are really serious to do such, you need to seek advice, don’t feel ashamed to seek support from others. Seek advice from a financial expert who will have a lot of experience dealing with problems like yours. Your financial adviser will come up with a realistic plan to help you sort out any money difficulties.

Personally I use Reddit, and if you're ever having a hard time I would recommend checking out /r/personalfinance. They seem to have helped a lot of people save more of their money and get rid of their debt quicker than a lot of people would be able to.

BitTyro

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Managing one's finances is kinda hard specially if you are on a tight budget. But if your are really serious to do such, you need to seek advice, don’t feel ashamed to seek support from others. Seek advice from a financial expert who will have a lot of experience dealing with problems like yours. Your financial adviser will come up with a realistic plan to help you sort out any money difficulties.

iram66680

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Quote from: Slark on March 17, 2016, 06:22:54 AM

Don't use credit card. Avoid living for a credit at all cost. Debt=slavery. If you don't need something very badly now and you can't afford it then it means it is not for you.
Wait month or two, save your money and buy your desired item then. The only drawback is that is not possible with real estate market and you will have lend money.

This unfortunately is the stark reality we live in. Man can not live without putting himself in debt if he wants his family to live comfortably in this economic environment we currently live in. It is just not possible to save for a house or even a condo these days. If you try you will be 50 years old after you pay off your student loans to finally start saving for a home to live in.

SFR10

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Well it would be a wise choice to set aside 15% of the income, completely un-touch (you never know, someday it will come handy). Around 50% for normal life expenses (foods and necessary expenses) and the remaining 35% could be used for buying new things or things that could fall as a luxury. The percentage differs a little bit for anyone depending on how they live.

Kingno.1

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In my view following ways could be good to manage money:
1)set a saving goal
2)do not use credit card ever
3)Invest money in parts
4) Monitor your investments regularly

sallymeeh27

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For me the best way to manage your money is to know exactly what are your limitations on spending them. Make sure that you have something saved on your account and this is actually for emergency purposes only and have some savings if ever you are in need of something. Plan your expenses and budget your money..Buy only items which is important..

VAodminnTer

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First of all, Not investing more than %10 of your investment profile on any single investment, that's a very basic advice but allot of traders/investors use it, Also avoiding unreliable investment offering too good of a profit money.

eternalgloom

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Something that I really recommend doing to anyone is to keep a reasonable buffer of savings for emergencies and invest anything you can basically spare to invest.
I try to save at least 10% of what I earn each month and I invest anything left over after living expenses and costs etc.

MedaR

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This is shopaholic society and many lives their lives, spending more than they can afford.
I don't like to spend money if i really don't need something.
Best way to manage your money is not to spend it on things because things won't makes you happy.

American Spending Documentary
https://www.youtube.com/watch?v=pPYwG9MWJVU

maxj57634

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The best way to manage your money is learn how to disclose all that is not needed for you daily life.
Just dont waste your money on something else that is not need.
Learn the basic of Wants and Needs.

Patatas

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If you really wish to learn or get enlightened on how to manage money,please read some of the great Books by Warren Buffet or Tai Lopez.Those guys started with void and made it huge.They provide day to day life example on how you can save on unwanted stuff and spend wisely on things those are investment indeed.

One of the books had examples of Steve Jobs about putting things on his priority.He had a broken couch but never cared to buy new one or fix it,because he knew his priority was investing the funds into the product,which paid back later.Such success stories certainly inspire you.

harizen

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Even with a good plan, percentage of budget that will used in other things or any other financial plan to manage your money, still it won't success if you will not be serious about this.

And another tip, always have a budget for misc things. Misc things are general and sometimes out of nowhere. Much better if we are ready. It's different from emergency budget.

RealPhotoshoper

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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?

i need suggestion too,i still can't manage my money with efficient,i'm often spent my money on un important goods or services. but now i just trying to thrifty,use money only for important need and with small cost.

armansolis593

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Quote

the best way to manage money is to give it to your wife, or your mother, then they will do a management that does not even you thought, the way I do it, because if I were to manage my money, so the money will soon run out Grin

This one fits the right answer for the question,women really know how to manage money than most man.
I would also lose all my money from going out drink as i dont know how to manage the money i get.

adibe

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Activity: 406

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By creating multiple wallet for manage your money. I mean, you can seperate your money. Like wallet 1 for gambling stuff, wallet 2 for saving your money and wallet 3 for emergency use.

Slark

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Don't use credit card. Avoid living for a credit at all cost. Debt=slavery. If you don't need something very badly now and you can't afford it then it means it is not for you.
Wait month or two, save your money and buy your desired item then. The only drawback is that is not possible with real estate market and you will have lend money.

bitbunnny

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Activity: 2912

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How to manage money? Spend little and save a lot. It's not easy but in all other scenarios at the end you will be "moneyless".

Hirose UK

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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?

I also did record how much money I spent, but I stop doing that now because I sometimes forget and then always forget.

One more best way to manage money is using the money to buy what you need, not what you want. make list of priority, kind of thing.

martinacar

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Activity: 462

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Quote from: iram66680 on March 16, 2016, 08:15:55 PM

Quote from: Oriannaa on March 16, 2016, 12:26:34 PM

The whole credit card thing is a double - edge sword.

It can work with you or against you depending on if you have some form of self control and whats actually needed.

For example if you are trying to get a advance to pay for something and you already have 80% of the cash being credited then it should be fine. But there are situations where people pull a cash advance and they cant pay in time which hurts them the most.

Also despite on credit cards - it just means that the user needs to re-negotiate the APR "annual per rate" adjusted to their customer service and see if the 20% can be dropped to 10% or something.

Doesnt hurt to ask? why not?

This actually does work. Most people don't think of doing this and are just assuming that it does not work.
The media is actually telling people to call up their credit card company to ask for a better rate because the market is so competitive right now, they usually don't say no.. unless you are at your maximum limit on your card in the first place.

The best thing is that you also must save some money. I think that is the most important to do that.
So you will have later some money and that is very good. And you dont must spend a lot of money to gamble. Because that is very bad.

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