Topic: FINANCIAL TIPS - page 15. (Read 1388 times)

earn invest > invest  you dont have money to waste anymore

yes I guess this is a good suggestion, so everyone can be more aware of how to manage their finances, well you say often people spend more money than they can get just because they get credit they sometimes forget the interest from their installment.
so I also started following the advice of the big guys in the world like warren buffet robert kiyosaki etc.

Its easy to say but it is hard to do.
In reality, 80% of the population knows about savings, about investment and about how to divide their money according to their needs but why there is always lack of financial stability?
Practically speaking, our monthly income specially in a developing country is not enough to sustain our daily needs. For example: in my country, the basic salary for a teacher is just $400 every month. I will divide my daily cost for a month.
1. $30 - electric bill
2. $20 - water bill
3. $200 - food
4. $40 - transportation
5. $50 - food supplements for my mother
6. $10 - rent of house
Equivalent to $350
That is the exact amount I paid every month and all of them are my family's daily expenses. Only $50 left in my salary not included my tax and insurance. See? How do I save if my monthly salary is just exact to provide my family needs?
Probably, we cannot make a savings if our salary is not enough to our needs. But still, I always save even 1 dollar only per month. That's my case, how about the people who are unemployed or does not have regular job?
P.S. all of the value I gave is converted in the currency of my country.

A lot of people heard this thing before and yet they still ended up nothing. Why? because they are afraid to take some risk.

I consider myself as a financial advocate but not that professional, telling people to invest and save for their future but sad thing is they don't care
about their future, they said "You Only Live Once" without planning for tomorrow.

Find this thing helpful because this is what we need right now, we have to start setting our goals, changing our lifestyle in order
for us to survive in the future, let's keep telling people about this thing until they realize how good investments are specially with cryptos.

That’s timely as the bitcoin price is lower and opportunity for small investors is bigger, if only they follow such advices to help them to priorities investment. This three tips can be a life changer for regular employee who struggle to survive in our country. Spending beyond what we need and just what we wanted to, is one reason we can’t save. This attitude should change.

I don't save $5 a week. There is no point at all in saving fiat. Now saving 0.001 a week? That's going to work out very well for your future.

I do agree though, don't spend more than you make (no debt) and always have savings before you start to spend your money.

Luckily a new generation will have such a better financial understanding than they did in previous generations and the legacy financial world.

This is the common thing that we should have before investing, of course we have to settle our debt first because investing takes time to earn.

Always know your priority, and don't spend beyond your means but still a lot of people are failed on this.

You should set your goal before anything else because its hard to invest when you don't have this thing and you might be controlled by greed.
Over all this is a good financial tips for everyone, and I hope many people find this thing helpful.

This particular question is tackled about more spending money and savings. I really like your concern and idea, hopefully many people realize on how the way they manage their income and their expenses. Because to much spending of money causes negative income, and suffered more future payables and debt. Actually, mostly people has the characteristics of being thrifty are those rich people, because they are more on saving money, but for those people that only a workers having minimum income are performing more on expenses rather than saving, hopefully this question gave us a learning lesson on how to save money rather than too much spending.

I dont know if this where the right place to post but here it is. This is most applicable for those minimum wage earner who struggles in life and wanted to invest too.

* DONT SPEND BEYOND WHAT YOU EARN.

This is particular to those credit card addicts where swipping it is their life. They spend most of their needs on cards, groceries, gadgets installment etc. They spend beyond their limits and usually paying excess charges because of this. They often didnt get through this swipe pay cycle because of their limited fund capacity.


* SAVE FIRST BEFORE SPENDING

I think this is the hardest part of the financial budget if you are earning just right for paying your monthly bill and daily necessities. But what will you have to do ? . You dont need that high portion of savings everytime. For example , you have $50 on your hand in excess of your expenses, budget it for a week in a very cheap way , groceries would be better, then save what is remained. Take aside your weekly starbucks and put it on your bank.You can take coffe at home or on a cheap way. Small amounts will get big in a time and you can start investing after. You can always reward yourself after if you start investing and earned passively.

* SET SOME GOALS

This is the most effective way ive done so far. Being comitted on your goal is almost 100% sure. If you are setting a goal for example this year where you have to save $5 weekly and you will save $260 in the end of the year, if you always looking for the outcome, im sure you will do this without leaping or maybe advance save it up.

All three of this is what i do everytime ans it helps me save and gain some capitals for investment on cryptocurrency. I hope these three would help someone even on a little way.