Topic: Cracking the Code of Saving Money... - page 9. (Read 1704 times)

I've noticed that most people who have a higher income come with a huge cost of expenditure. Seems like it's better to increase your income or add a side hustle while controlling your daily expenses, in that way, you can save more money while making it from your salary. try to avoid or minimize buying things that you know aren't important in your day-to-day living. be wise in handling and spending your money.

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.


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.

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 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.

This is actually the most effective way for me, I need to know where my money goes. Only after that I can analyze which of my expense I could reduce and turn it into saving. I think one of the main reason is because I work freelance and I don't have fixed income, so since I can't control my income then I need to control my expense, this way I could spare some of my income to turn into saving.

It's hard to save huge amount but small amounts are easy. We shouldn't underestimate it because it can still grow big later on. Inflation affects the value of our money or our savings but I think we shouldn't mind it first if we didn't know yet on how to discipline ourselves to save. If you do already, you can choose to put most of your savings in some valuable assets as they help combat the inflation. Inflation affecting the price of a commodity can be a good thing because we can buy them cheaply.

We can HODL them and wait for their price to recover before we can sell them for profits. Actually if you are already saving in the past, the more you will be encouraged of doing it now. Whether working on an organization or not, the tips that you said about handling our salary is always possible for a person who is willing.

1) spend wisely

2) avoid living a luxury lifestyle to impress people

3) avoid unnecessary spending

4) if you want to save, settle for lesser price product

5) make a list of necessary needs, like if you're a salary earner, after receiving your monthly pay, write down list of what you need throughout the month, then you set the money aside.

6) make use of trusted wallets to save your money.

Yeah, a reduction in spending on things that you don't need is a big thing for your budget. You'll realize if there are things that are unnecessarily included in your budget. If you're into subscriptions, better check it again if you need them because, at most times, you don't. Those little amounts that you will collect on top of that will give you an idea of how much you can save and spend for a year. And if you feel that you're wasting money on them, then that's a knock on your head that you have to spend money wisely only on important things and maybe for some leisures.

I think we can all agree on this.

Without set targets, spending remains uncontrolled and savings reduce drastically. Being frugal is often inherent but can be acquired through proper training. Some people are easily coaxed by advertisements, promotional content and word-of-mouth. Being able to control them takes skill but is possible.

Hence discipline makes the cornerstone in all these. Without that a lot of things in life would go haywire.

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.

By making the needs we have to fulfill in line with our desires, of course this will really help us in terms of saving on the expenses we incur because if we have a lot of desires and we can still postpone having them then we will have difficulty in managing the income we have, if We have a lot of income, maybe we don't realize it, but if we only have enough income for our needs and we use it for our desires, of course we won't be able to meet the needs that we really need to fulfill.

If we can get more income according to what we want, maybe it will be easier to manage the expenses we need. You are right that it is very easy to say that we are looking for additional income outside of the job we have, but it will be very difficult to carry out several jobs at once and if we are not consistent in doing so it will certainly make us experience losses that we will incur.

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.

Just be responsible and that's more than what saving is. Although it is necessary for us to save for the rainy days because we don't know what situation we will be in by that time.

If you're able to pay the bills, be proud of it. Not everybody does that because they don't account their responsibilities like as simple as paying bills.

Start saving like a couple of bucks whenever you receive from any source or profit you make. And practice it until you make it as a habit and from there, you'll get a larger plan that you should save double of that amount until it's more than what you can ever imagine.

And do not forget the typical tip that you'll hear from everybody and that's to only live within your means.

We can do this by reducing our spending on things that are not really needed, which will be very helpful. I mean every month we must already have an idea of how much money we will spend on basic needs that cannot be abandoned, because we already know the needs for sure. As for bills, I think we already know how much we have to spend, except for some bills such as vehicle repair costs that are unexpected.
We can do it from the smallest things, don't be too hasty, because things like this also require patience for us to do, to make our financial situation improve.

One best things is to make your needs the subject of your wants. Oftentimes we buy things that we don't really need and just go to waste.  Also, save money in a way that you are not depriving yourself. Some don't eat lunch or dinner just for the sake of saving a buck for a day. It's not healthy. If that's the case, you won't stick to that and miss your savings because you cannot actually afford your savings in the first place.

You can simply earn more money. Yeah easier said than done. You have to earn more money whether through business, another job, or side hustles. Then after saving enough, level up that by putting it on an invstment.

Saving money at this time will be quite challenging. As we develop and make more money, the economy becomes more difficult. We have a great deal of issues to deal with. You will just see several bills, and we must deal with them. Men find it difficult to save money because they must support themselves. Your ability to solve issues will be more valuable than any money you may make. We continue to experience a variety of issues. I personally do not find saving simple. The majority of us are taking care of our families and ourselves by doing this. Without them, we can't leave them behind. We wouldn't be here without them. However, if you're student in this situation, must set aside money for all necessary expenses.

We should not have long troat is the most successful treatment for this. We shouldn't start making plans to live like our friends just because we notice that they are saving money and doing better than we are. I don't know how the economy is doing in your country, but I think it is not just mine that is becoming worse. Not just for ourselves to save, but for all of us, we are struggling to get this money. Most of the time, when difficulties arise that we weren't expecting, we have little choice but to use the money we were trying to save. I think some of us will save when it's appropriate.

Try to reduce on everything as much as possible,doesnt matter on how little it is as long you could really be able to find ways on reducing cost because if you have done it then you would really be seeing some changes on how much you could really be able to allocate when it comes to savings thing.We do know that economic problems becomes more worst due to inflation just like on what others been saying on which it might really that sounds too easy to recommend or advise but actually it is really that too hard on making yourself that able to do so due to some circumstances and i could say that it is really that wont really be that easy.Adjustments made would really be needing that extreme discipline and control towards your spending or else then you would really be still on failing.

There's no such thing about cracking code or hidden secrets because you could really be able to just find directly if you do really just that be serious on finding ways on how to save up and
lessen your expenses on which on this way then you could really be able to make yourself that have some progress somehow and starting up to see the results of some adjustments.
It might not be simple or easy but as long it do works then it works.

i think one way to save even if you feel you have no extra funds is that check those bills how you can lower it down. find a cheaper rent if there's any (if you are renting), lower down your electricity bill by checking what appliances are contributing to this cost, be conscious of your spending with your food supplies. and monitor what you've been buying everyday and see how you can cut those expenses. somewhere, you can find how to lessen such expenses and save a lil bit for emergency needs.
if you will list your expenses maybe for a week or two, you will see where you can remove some unnecessary buys. without being conscious of where you're spending your funds would be hard to cut down your expenses.

Bills aren't expected, they're obligations and they come at times that we're expecting them like monthly or every half month. While it's true that it's hard to make ends meet we have to do something in order for us to overcome this problem. Like the financial advisers that I've heard say, it's not about how much you make but how much you save and invest. But if there seems to be no movement at all and you're just spending everything whenever you receive your salary, what you must do is do something different like increasing your cash flow and source of income through having more side hustles. Because no matter how thrifty you are when every expense is going up, you need to add an additional source of money.

If you are planning on having that savings then it would really be needing to go back into the drawing board and list out all the expenses that you do have. IF you do find out that there's one that you could really be able to cut it off or really that needs to be lessen then do it. As long it would really be that compromised then this is something that you could really be able to make up some savings somehow.
If you do find yourself that getting overdropped then this is the best time on telling that you would really be needing another source of income and we know that its never been that simple but somewhat it cant really be that impossible. It todays world where economy becomes shittier on everyday then your income is really just that the same then you would really be coming into a point that you wont really be that
be able to survive on day to day living despite on having your own work.

This is why if you do have plans on trying to be that financially free or doesnt have much problem about finances then getting other source of income would be the key and making
out some actions on which it would be pertaining about investment and businesses on which it could really be that possibly be able to make yourself that to survive somehow.

What you are saying is true and most people can not save money because they don't have a basic understanding of finance. General person opens a bank account and saves some money from their monthly wages. After 20 years they can see that their savings amount is big in number but they don't realize that their money lost 70% of its PPP over these 20 years due to inflation. Keeping paper cash as a savings is the biggest mistake most people make.