How good are you at managing your money - page 18.

xIIImaL

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Quote from: BiTZeD on October 20, 2016, 11:24:00 AM

I think I'm good. I simply accumulate and forbid me to spend any cent out of it until price will be at least 10 000$ Grin

!

I don't know how long you gonna wait for bitcoin to reach 10000$. I may take more than 2 halving time i think. We do not speculate the time of bitcoin price to reach. However its healthy that one person willing to hold bitcoin for long term.

ronaldo40

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Quote from: BiTZeD on October 20, 2016, 11:24:00 AM

I think I'm good. I simply accumulate and forbid me to spend any cent out of it until price will be at least 10 000$ Grin

!

it is good that you will be waiting for the price reaches $10,000 that will never happen. so you will wait a very long time. but it could be good that you really do not spend any cent and you will have a lot of money in the future to continue to grow without spending.

BiTZeD

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I think I'm good. I simply accumulate and forbid me to spend any cent out of it until price will be at least 10 000$ Grin

!

Ryananda

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Yes it is very difficult to manage money. There is definitely a need that forces us to spend money to make ends meet. Really like you said, it is very difficult to implement in reality. But we can try to split which ones to need and which ones to save, it'll work. I also implemented that way.

Superbitzz

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i am not too good in managing my money, and that is the reason that i always facing financial issues as i have no strategy for my money how to manage, but now i am thinking to make some strategy for managing my money.

lexuz

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Me, myself and I

Quote from: marcuslong on October 20, 2016, 03:13:07 AM

Managing money is not that hard to do if you know how to not spend to much then you will know on how to save money if you are earning it and you will do hard work from it you will realize that money is very important to us if we are going to just to spend and spend we will need money in future for sure that keep that.

Easy when speaking but in reality always is not easy as words, managing money is the hardest thing that is faced by many people as possible you are right not to spend a lot of money but then again a lot of unexpected things happen in life.

marcuslong

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Managing money is not that hard to do if you know how to not spend to much then you will know on how to save money if you are earning it and you will do hard work from it you will realize that money is very important to us if we are going to just to spend and spend we will need money in future for sure that keep that.

pocarime32

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I'm a bit good at managing my money, because i always save 10% of my salary everytime i received my payment and the money that i save, i can use it for investment to earn more money.

Kotone

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Quote from: rockstar338 on October 05, 2016, 12:31:44 PM

I've downloaded a lot of free ebooks about money management. I read them but, I should always get reminded about spending it's like before you wake up in the morning you need to be reminded. We need it in our lives but I have to admit that I'm not really good at money management, but I'm learning my lesson, it's not too late for me at all. To be able to reach our goals and dreams we need a good money management.

Free ebooks not help you with things that you read there sometimes you need some premium ebooks that really helps you with many things like how to make money online without investment needed some of those are really good ebooks when you start earning money then thats the start to on how you save money.

tabas

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Quote from: Erzatium on October 18, 2016, 10:18:37 AM

If I really have to be honest, I'm not really managing my money because my wife is doing the financial stuff, I do the other things...
In the overall I can manage my money good.

Good thing for you, but I would say that I won't allow my wife to use my money or even manage it. Because even without her I am more able to manage it because I know how important and valuable money is to me. Since I'm the one who worked for it, then I work spend that for nonsense things that will make me regret in the end.

diodio5

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Quote from: hase0278 on October 18, 2016, 06:56:58 AM

All ill say sbout it is that im half good and bad at managing my money. I save my bitcoin always for a price rise and sell it accordingly when price rise. On the other hand, I use it sometimes to buy things I dont need but sometimes I use it to buy foods. I also save my fiat and use it buy what I want sometimes. That's why im not good at it and im not bad at it either.

I think you already have a good financial management because you want to save your money bitcoin and I think the key to good financial management is saving more and spending less, you need to have incomes greater than expenditures

EdenHazard

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Quote from: ?? on ??

Quote from: Aamir1 on October 19, 2016, 04:26:42 AM

Quote from: Erzatium on October 18, 2016, 10:18:37 AM

If I really have to be honest, I'm not really managing my money because my wife is doing the financial stuff, I do the other things...
In the overall I can manage my money good.

I'm not married, but me too can't manage my money in a good way as i'm mostly with friends so i just spend whatever i feel like but don't think about anything and specially when i have extra money in wallet Grin

As a married man budgeting is very important that's why a make sure to spend money wisely to things that i need for my family most importantly food, transportation, electrical bills and health care. I make sure to it that the extra money in my wallet goes to my saving at my cooperative which i am a member 10 years until present. Managing money is a struggle you need to have a patience not to buy those things that you wouldn't need, like those gadgets, appliances and even going to malls is limited.

even you are single not married yet budgeting are same important .

so you can plan everything for the future , buy something necessary only and save as much as you can, don't spend your money on something useless that you actually don't need it.

Ziskinberg

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Quote from: agustina2 on October 19, 2016, 09:17:07 AM

Quote from: ?? on ??

As a married man budgeting is very important that's why a make sure to spend money wisely to things that i need for my family most importantly food, transportation, electrical bills and health care. I make sure to it that the extra money in my wallet goes to my saving at my cooperative which i am a member 10 years until present. Managing money is a struggle you need to have a patience not to buy those things that you wouldn't need, like those gadgets, appliances and even going to malls is limited.

You know when a person really on a situation of a married life or a person where money is managed by themselves, that will make them much better when managing the money. Since they all know the spendings unlike when we are being supported by our parents, we are thinking ways to manage it carefully and properly to make our money supports us for a long run.

And with ability to manage our money well, we are making sure that we have some money going into our saving purposes.

When you are married, you have more responsibility in life and you need to prioritize your family especially when you have kids. With that, you need to work hard to earn more income and should manage your fiances very well.

agustina2

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Quote from: ?? on ??

As a married man budgeting is very important that's why a make sure to spend money wisely to things that i need for my family most importantly food, transportation, electrical bills and health care. I make sure to it that the extra money in my wallet goes to my saving at my cooperative which i am a member 10 years until present. Managing money is a struggle you need to have a patience not to buy those things that you wouldn't need, like those gadgets, appliances and even going to malls is limited.

You know when a person really on a situation of a married life or a person where money is managed by themselves, that will make them much better when managing the money. Since they all know the spendings unlike when we are being supported by our parents, we are thinking ways to manage it carefully and properly to make our money supports us for a long run.

And with ability to manage our money well, we are making sure that we have some money going into our saving purposes.

Aamir1

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Quote from: Erzatium on October 18, 2016, 10:18:37 AM

If I really have to be honest, I'm not really managing my money because my wife is doing the financial stuff, I do the other things...
In the overall I can manage my money good.

I'm not married, but me too can't manage my money in a good way as i'm mostly with friends so i just spend whatever i feel like but don't think about anything and specially when i have extra money in wallet Grin

sishendaoye

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Quote from: tommorisonwebdesign on May 19, 2016, 03:49:24 PM

While we are all here on this forum to earn one way or another, how well do you manage that money after you've earned it. Do you trade your Bitcoin as fast as you can spending it all in a day or do you save it? I recently got paid for a job I did in programming and i keep finding myself wanting to spend more of that money i made. I have a lot of credit card debt and that is not good. I have destroyed only two ofg my credit cards to which I owe thousands of dollars on.

how do you spend your money?

I am somewhat good in managing money because I need to be good at it because if I do not then I will spend random and before you know it I would have no money left.
You always need to know how much money you need to put on the side for thing you need to pay.

cryptotore

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I used to be terrible at managing my money, the more I earned, the more I spent on crap! Consumerism is a curse!
At one point I was earning about 4000$ a month after taxes, and I spent probably 5000$ a month, consistently building up debt..

After getting into Bitcoin and mining, I've totally changed my view on economics, and how to spend my money. I used to think that I could never change my situation, and that I could never build up any money for the future, because of all my expenses. Housing alone easily eats up about 2000$/month (rent, electricity, etc.), so I just wasted the rest..

Now that I've learned how money/economics actually works, I've made a 10 year saving/investment plan, and I've cut my living expenses a lot! I'm currently saving about 65% of my income, instead of wasting 125% of it..

I put my earnings into:

Bitcoin
Passive index funds
Savings account

I highly recommend reading this blog for inspiration:
http://www.mrmoneymustache.com/

And to play around with calculators like these: (5% interest is not uncommon over a 10 year period if ur investing in passive index funds)
http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php#

Do yourself a favor and watch this as well: https://vimeo.com/183016901

Cheers

Erzatium

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If I really have to be honest, I'm not really managing my money because my wife is doing the financial stuff, I do the other things...
In the overall I can manage my money good.

arseaboy

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When I was young I'm was pretty bad at managing my money. And when I got older and have my own family I would say I made improvements. I'm a wise spender now

and put some of the money I save into investments and when bitcoin was introduced to me it becomes very helpful and an additional to my expenses.

freedomgo

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Quote from: jossiel on October 18, 2016, 08:00:39 AM

Quote from: ronaldo40 on October 18, 2016, 07:45:27 AM

Quote from: martinacar on October 12, 2016, 03:31:33 AM

I am pretty okay at managing my money every month I come on top positive and I still do what i like hobby wise etc.
I learned from young age how to handle and manage money carefully it's an important life skill to have.

if you were old enough I think they are always good in managing money. whereas for young people like me it was difficult to manage finances. because the emotional level is still high with everything they want and not for need. I experienced it, is quite wasteful in spending money.

That is why when you have kids it is better if you are going to teach them how to save money and money is important in our life.

But don't teach them to be greedy just tell them that saving money is the one that will going to help them to be a good financial analyst or advisor someday.

Just start with piggy banks to savings banks.

It's good if you will teach kids how to save money at a young age so they will be train and when they grow up they will be responsible already in managing their finances, even how rich you are but with lack of money management you will never be successful financially.

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