Topic: Cracking the Code of Saving Money... - page 8. (Read 1704 times)
Try living the life of not having a lot of possessions, remember that TV show where Marie Kondo does home makeovers and there's a method there that I forgot the name of where you can only keep three things on your house and the rest has to go, I think that it's a good guideline as to how you can minimize your spending in a world that's infested with capitalist consumerism. If you really can't do that kind of thing which is extreme, try to postpone buying that thing that you've been saving for a long time, wait for 30 days or so and do some self-talk about whether you should buy it. Or if you are smart enough and know yourself that you're not afraid of your reflection then just ask yourself if you really need it or you just want that thing, if it falls under need then go for it but if not then you got to let go of the temptation to buy that stuff.
You can't save money if you do it at the end, or use leftover money from your salary. If you want to save do it at the beginning, let's say cut 10% whenever you receive your income to a dedicated saving account. But this is under the assumption that your salary is enough for your basic needs. Otherwise, you'll end up with zero or even borrowing money, even when you already live frugally. Anyway, don't waste your time allocating your already small income (for those who need this advice), rather think more about how you get more money/income.
That's what I totally agree with. If you don't have enough money and you start saving from it, even from the beginning like you said, you'll make make your life miserable. And in that state it will be hard for you to work more, or work smarter, or to even think of more effective ways to make money.
This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.
Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.its always good to make the most of the current moment, not thinking too much about the future, so long we use our money wisely for the sake of betterment of our life.
not just keep on saving it mindlessly that we can't even live normally and need to live frugally. I don't think thats good idea.
We can only live once in life, so we should not be too wasteful but also never be too stingy with ourselves. This reminds me of a recent forum debate around investing in bitcoin or buying a new iPhone. I think it's funny for many people to think that if someone buys an iPhone 15 it's a waste and investing in bitcoin is realistic. They buy because of need, buy because they are enjoying life after hard working days, what's wrong with that? While investing in bitcoin, I believe that everyone will have their own plan. I am also planning to buy a new iphone for my wife, am I wrong in trying to bring good things to my loved ones? Meanwhile, the amount I invested in bitcoin was prepared and even huge because I believed in it.
This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.
Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.its always good to make the most of the current moment, not thinking too much about the future, so long we use our money wisely for the sake of betterment of our life.
not just keep on saving it mindlessly that we can't even live normally and need to live frugally. I don't think thats good idea.
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.
This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.
Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life. 
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
There is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need.There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
Yes, and that's why it's really very difficult to some extend because majority of us are impulsive buyers, which means we didn't think about it, we just buy things that are in the end, we will not used it.
So we need to practice delayed gratification, just like what we are here in crypto. We save and HODL for years and then wait for the bull run to occur and then we sell and make profits out of it.
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
There is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need.There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
There is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need. There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
It's not easy if your salary is sufficient only for the needs or you spend more than what you can earn. If that's the case you have to think on how you can increase your income. It's hard to have a problem financially, therefore do something, strive and don't depend to anyone.There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
I believe that everyone is aware that increasing income is the only solution, but if saving is difficult, increasing income is even more difficult, especially when we are in an economic crisis like today. It sounds easy, but it's really difficult to apply for a job these days.
How do you manage to save in a world that encourages spending?
There are many temptations but if you really want to save then you need to control and discipline yourself. Because nothing will happen if you keep spending and then in times of emergency you'll take a loan because you don't have money. Compared to increasing income, saving will be somewhat easier because we will be more proactive. But we cannot fix our savings amount because there are many unexpected expenses. We can only limit spending on useless or unnecessary things.
I prefer the solution of increasing income rather than just focusing on saving, so we need to make more efforts even though it is much more difficult.
This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.
Saving requires discipline, and you must be prepared for the obstacles to your plans to save. You have to within the period where you are saving make sure that you are strong willed to not spend out of budget, or spend money on impulse responding to certain situations and unexpected bills.
Plan for everything and have a provision for expected and unexpected expenses in your budget.
Be strict about not touching your savings, you can even go the extra mile of making sure that it is difficult to access so you do not easily get to it under pressure.
Plan for everything and have a provision for expected and unexpected expenses in your budget.
Be strict about not touching your savings, you can even go the extra mile of making sure that it is difficult to access so you do not easily get to it under pressure.
yourself is your enemy when it comes to discipline. no one else. so yeah, stick to your plan and ask yourself why you are diverting at some point. no one can help you in times of need, instill it in your mind so you have strong motivation to save as much as you can.
manage your finances and should not buy unnecessary things. most of the time those extra things will just find its way in trash.
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
The first thing in the saving money strategy is not to compare yourself to others, this means when you compare yourself with the class who are very rich then it will make you financially unstable as they spend more on useless things, and by competing yourself to them will also tend you to do the same. The second thing is to make a list of the whole need for a single month and store it. This will keep your money from spending more by buying it on a daily basis. For a minimal electricity bill reduced or turn off the lights that are upstairs or in the launch or in the kitchen and always use good quality light whose consumption rate is less. A lot of money is wasted on alcohol and clubbing so stay away from these two especially as they will damage your wallet as well as your health. These are a few suggestions that I use in my life and that's how I manage my fund. There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
My new strategies involve putting money out for saving first and use the rest of the money for other things.
actually this is the normal thing to do, glad you found out. A fixed amount of money is removed from my income each month and saved somewhere where I cannot touch it until a maturity period.
Putting it in cold is the best to save it. Not on your cards, e-wallet, or somewhere that can be access online to avoid temptation of spending.
There is always a way as long as you have the desire, self-control is the main key to implementing a frugal way of life in order to achieve a better future using savings that have been prepared in the past. You can create a priority scale by differentiating needs from desires, this way you can control expenses so that they do not exceed income. Commitment from the start will make it easier for you to live a frugal life. When you have set targets to achieve in the future, you will try to save in a disciplined manner.
There is a lot of suffering involved in attempting to accomplish something real in life, but trying to save money is difficult because, as you said, a line needs to be made between needs and desires. The issue currently is that if money is saved in fiat, many circumstances may affect it. It is therefore even more advisable to invest it and for it to be moving around rather than being kept in one place and ultimately being spent. Saving money is challenging because you begin to have many ambitions. and it will be very difficult to make certain decisions. you want to survive you just have to make them.It's true and there is always a way for those who are able to discipline themselves in controlling their finances. Living frugally and setting a small budget for the savings portion can also increase our interest in saving, although the level of productivity of that money will not increase as quickly as placing money in potential investments. It is necessary to distinguish between needs and desires because this is where we can educate ourselves in saving and if we are not able to see the difference, we will actually spend money on desires that are not needed to control our daily needs.
Strive for commitment with the intention to save and always try to be frugal for the reason of not being stingy in meeting life's needs. If a lifestyle like this can be implemented then I am sure we will be able to carry out appropriateness in spending money and most importantly we will have a portion of savings according to the steps that have been carefully prepared.
Even some rich people try their best to control how they spend to the extent they avoid spending on luxury, not because of anything but because they have a target they want to meet. Financial success can be achieved by having good saves and investing some of the funds. Even while saving, there is less interest earned than when investing, even a small amount. Nobody will be able to teach us financial discipline; we will need to figure it out for ourselves. Discipline is crucial because there are many things to spend money on. and also reading books on finance will help. Strive for commitment with the intention to save and always try to be frugal for the reason of not being stingy in meeting life's needs. If a lifestyle like this can be implemented then I am sure we will be able to carry out appropriateness in spending money and most importantly we will have a portion of savings according to the steps that have been carefully prepared.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
My new strategies involve putting money out for saving first and use the rest of the money for other things.
A fixed amount of money is removed from my income each month and saved somewhere where I cannot touch it until a maturity period.
The other monies is used to survive the recession and inflation.
That's how I do it.
Saving the same fixed amount every month is not easy because life is full of surprises but if you can maintain it then you are really good. But I want to know, are you saving in fiat currency or in some other asset? Because as you also said, it is inflation that increases the prices of items and makes it impossible to budget. And if you continue to save in fiat currency every month, those savings will have a hard time saving you when inflation is increasing. You should continue with your strategy but instead of saving in fiat, you can use gold or bitcoin to better secure the value of your savings.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
My new strategies involve putting money out for saving first and use the rest of the money for other things.
A fixed amount of money is removed from my income each month and saved somewhere where I cannot touch it until a maturity period.
The other monies is used to survive the recession and inflation.
That's how I do it.
Saving the same fixed amount every month is not easy because life is full of surprises but if you can maintain it then you are really good. But I want to know, are you saving in fiat currency or in some other asset? Because as you also said, it is inflation that increases the prices of items and makes it impossible to budget. And if you continue to save in fiat currency every month, those savings will have a hard time saving you when inflation is increasing. You should continue with your strategy but instead of saving in fiat, you can use gold or bitcoin to better secure the value of your savings.
We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
Saving requires discipline, and you must be prepared for the obstacles to your plans to save. You have to within the period where you are saving make sure that you are strong willed to not spend out of budget, or spend money on impulse responding to certain situations and unexpected bills.There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
Plan for everything and have a provision for expected and unexpected expenses in your budget.
Be strict about not touching your savings, you can even go the extra mile of making sure that it is difficult to access so you do not easily get to it under pressure.
You must get a good job that pay well first, if you can't get it, even you've cut every unnecessary expense, it's not really worth. Stress is normal in work, so you must entertain yourself, this could be playing game, painting, shopping etc, which needs money. Don't only work and not appreciate/love yourself, you might become depressed etc.
Without having an income, it will certainly be difficult to manage the expenses we need and it is very different from those who have a fixed income. Setting aside the income we have to be able to save is very important for us to be able to do because if we don't have savings it will certainly be very difficult because we work as a freelancer.
It doesn't make sense in the first place, how you can able to have money when you're not having an income/work? You must work to get income, a poor people who begging is also "working". 
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)
My new strategies involve putting money out for saving first and use the rest of the money for other things.
A fixed amount of money is removed from my income each month and saved somewhere where I cannot touch it until a maturity period.
The other monies is used to survive the recession and inflation.
That's how I do it.
Jump to: