How to save money. - page 10. | Bitcointalksearch.org

serjent05

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Quote from: jakelyson on October 02, 2016, 11:26:37 AM

Quote from: V1saya on September 29, 2016, 03:28:48 PM

Quote from: TheUltraElite on September 29, 2016, 03:17:20 PM

As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.

My monthly salary goes like this:

50% - savings
20% - city room rent/electricity/water
12% - pocket money
10% - mom's allowance
8% - apartment rent at home

It really feels so good when you have a fixed monthly budget. Any savings or extra income is a bonus.

This is very unrealistic and you forgot to include food and transportation allowance. Maybe if I am single and I am earning $5K a month, this budget is feasible. But I do not think anyone here is earning that much money. Maybe a handful, but most of us are living on minimum income. 10% saving is enough for me. The rest can go to any expenses I have.

haha yeah i agree I wonder how he can survive without eating LOL maybe it is on the pocket money stuff Cheesy

since he is working he has this pocket money as daily allowance for food and transportation. But still people does not eat 1 x a day Cheesy

but if anyone does that, he will be rich soon .

uname

sr. member

Activity: 420

Merit: 250

Quote from: molsewid on September 30, 2016, 05:48:14 AM

Saving money while you had so much money on your hand is really hard bcoz you need money daily to support your daily needs specially your foods daily and for me opening a saving bank account is good you can lut your money there.

I have a bank account and I have plans to spend money for my daily purposes. I always make a plan so that I always have leftover money from my salary for me to save

Aamir1

hero member

Activity: 756

Merit: 500

Quote from: molsewid on September 30, 2016, 05:48:14 AM

Saving money while you had so much money on your hand is really hard bcoz you need money daily to support your daily needs specially your foods daily and for me opening a saving bank account is good you can lut your money there.

Keeping all the money in pocket would probably not let you save anything from them because you will probably spend them somewhere when you have them, the way is to just keep the savings in an account in a bank or in bitcoin so that you don't think of buying things which are not really needed.

jakelyson

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Activity: 2296

Merit: 1070

Quote from: V1saya on September 29, 2016, 03:28:48 PM

Quote from: TheUltraElite on September 29, 2016, 03:17:20 PM

As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.

My monthly salary goes like this:

50% - savings
20% - city room rent/electricity/water
12% - pocket money
10% - mom's allowance
8% - apartment rent at home

It really feels so good when you have a fixed monthly budget. Any savings or extra income is a bonus.

This is very unrealistic and you forgot to include food and transportation allowance. Maybe if I am single and I am earning $5K a month, this budget is feasible. But I do not think anyone here is earning that much money. Maybe a handful, but most of us are living on minimum income. 10% saving is enough for me. The rest can go to any expenses I have.

TheUltraElite

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Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: doomistake on October 02, 2016, 10:48:01 AM

In order to save money in my opinion, you need to know what you want and what you need. In that case you can budget your money for those things, what you "want" and what you "need". Buying things that we thought that we needed it but the truth is not is the most problem that's why our money are just vanishing in just a blink of an eye. Like buying this, that, and buying everywhere though it is not needed. Most of the people are shopping that hard and buying expensive things for them to be popular to others (though they don't even have a job, just asking money for parents), so others will think that they are rich even though they are really not. Those people are called social climbers which are the annoying type of people.

The problem with human beings is that they cannot segregate "need" and "necessity" form "luxury". People tend to buy everything they can afford to because they have the money to, but end up spending too much and saving becomes difficult for them.

doomistake

hero member

Activity: 1400

Merit: 571

In order to save money in my opinion, you need to know what you want and what you need. In that case you can budget your money for those things, what you "want" and what you "need". Buying things that we thought that we needed it but the truth is not is the most problem that's why our money are just vanishing in just a blink of an eye. Like buying this, that, and buying everywhere though it is not needed. Most of the people are shopping that hard and buying expensive things for them to be popular to others (though they don't even have a job, just asking money for parents), so others will think that they are rich even though they are really not. Those people are called social climbers which are the annoying type of people.

Aamir1

hero member

Activity: 756

Merit: 500

Quote from: mishra1994 on October 02, 2016, 10:11:20 AM

If you wanna save money then first off all you must not have expensive habits like gambling or drinking alcohol because when i was gambling then it became impossible for me to save even 1usd money but after stopping that now i am able to save few extra money.

That's right, the more expenses you have the less money you will have for saving or maybe you will have nothing remaining to be saved even if you have more than one sources of income, but if you cant reduce your expenses than you wont be able to save anything at the end.

nindie

member

Activity: 98

Merit: 10

iam save and saving to my mone in bank
because high secure and guaranted to goverment

Narosya

sr. member

Activity: 428

Merit: 250

Quote from: Oppolee on October 02, 2016, 10:04:10 AM

How to save money is a very difficult question, especially for those who really do not have enough money. It is certainly possible to cut costs, but if at the elementary everyday and important things, this money is not enough. Then you need to already be wondering how you can earn, so you had something to save.

That's right, in addition to the savings necessary to search for sources of passive income. The best way to get them - a percentage of the investment

mishra1994

full member

Activity: 238

Merit: 100

If you wanna save money then first off all you must not have expensive habits like gambling or drinking alcohol because when i was gambling then it became impossible for me to save even 1usd money but after stopping that now i am able to save few extra money.

Oppolee

sr. member

Activity: 263

Merit: 250

How to save money is a very difficult question, especially for those who really do not have enough money. It is certainly possible to cut costs, but if at the elementary everyday and important things, this money is not enough. Then you need to already be wondering how you can earn, so you had something to save.

darklus123

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Activity: 1246

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I am much very on to you mr. I also do usually thinks like if ever i like something shall we say a new smart phone. I would always ask my self that do i really need this thing? In fact i am still a student but i am already saving some of my extra incomes here.

wowanstrong

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Activity: 621

Merit: 500

Quote from: mace15 on October 01, 2016, 07:03:10 AM

Everything we do revolves numbers. Everything we love to do
well cost money. Saving money is easier if we have plans in life.
If we aim something to achieved we can save money then.
When your tempted to stray your plan, call someone that
will tolerate or encourage you to attain your goals. Likewise,
in bitcoin Im eagerness to save btc more.

I share that opinion. We need to set a goal and go for it. And then all will receive automatic

mace15

hero member

Activity: 1428

Merit: 506

Everything we do revolves numbers. Everything we love to do
well cost money. Saving money is easier if we have plans in life.
If we aim something to achieved we can save money then.
When your tempted to stray your plan, call someone that
will tolerate or encourage you to attain your goals. Likewise,
in bitcoin Im eagerness to save btc more.

tyz

legendary

Activity: 3360

Merit: 1533

The best option is still to split the savings between bank and Bitcoin. Both could fail, Bitcoin and a bank ( or the fiat money system ). To split your savings, you are probably on the right site.
Going just for one option is a higher risk in my opinion.

Quote from: extrabyte on September 30, 2016, 12:00:28 PM

Quote from: molsewid on September 30, 2016, 05:48:14 AM

Saving money while you had so much money on your hand is really hard bcoz you need money daily to support your daily needs specially your foods daily and for me opening a saving bank account is good you can lut your money there.

well. I would choose to save my money in bitcoin instead of bank. saving in bank will only save your money but saving in bitcoin may give you some profit too. because after some years bitcoin price will increase for sure.
that's my own thought BTW.

extrabyte

legendary

Activity: 840

Merit: 1000

Quote from: molsewid on September 30, 2016, 05:48:14 AM

Saving money while you had so much money on your hand is really hard bcoz you need money daily to support your daily needs specially your foods daily and for me opening a saving bank account is good you can lut your money there.

well. I would choose to save my money in bitcoin instead of bank. saving in bank will only save your money but saving in bitcoin may give you some profit too. because after some years bitcoin price will increase for sure.
that's my own thought BTW.

goldcoinminer

hero member

Activity: 952

Merit: 500

Quote from: gerXhonza on September 30, 2016, 06:08:02 AM

Quote from: bamboylee on September 30, 2016, 04:44:30 AM

Quote from: TastyChillySauce00 on September 30, 2016, 02:44:38 AM

Quote from: goldcoinminer on September 29, 2016, 10:06:48 PM

Quote from: Mr. Big on September 29, 2016, 09:39:45 PM

Quote from: bamboylee on September 29, 2016, 09:33:17 PM

Quote from: TheUltraElite on September 29, 2016, 03:17:20 PM

As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.

40% of your earnings is too high of a target. Normal people receiving minimum salary will have a hard time keeping up and will frustrate them. Soon they will stop saving because of that. It is better to save small percentage but can be consistently done without straining too much your budget.

Yup, 40$ was too high, not all of us is high earners where we could keep almost half of out salary, mostly we just receive enough salary so keeping 40% of it might just compromise your living or might result to problem... I think computing about how much you will save should be after buying all your basic needs, the leftover money should be the target of our savings, that's the money where we could mess around whether we are going to save it all or spending it to something else...

The most conservative approach IMO is just to save at least 10% of your earnings so you can still live a normal life, we are living in this world to enjoy and do our responsibility in the society and that is to balance of way of living as well. If we save at least 40% of our earnings we are not living a balance life.

it's indeed you'll not living a balance life if you saved about 40% but it's temporary,after you're done saving you can but what you want and then get pleased for what you've done by saving money,you need effort first to get a good result

For me saving should be done continuously and not just temporary that is why I choose to save smaller percentage. As long as you can earn, you must save a part of your salary. When you have accumulated a large amount in savings, then you can use them on different things like investment, retirement, emergency funds and leisure.

Exactly, keep on saving on regular basis from your salary, you can save them in banks or in fixed deposits where you can get higher interest and once you have enough savings you can go for investments.

In the future I am planning to invest on something that I feel I am good like having my own fast food business but I cannot do that if my investment here in bitcoin will not succeed, bitcoin is my stepping stone and I will use the profit to realize my dream in the future.

gerXhonza

hero member

Activity: 812

Merit: 1000

Quote from: bamboylee on September 30, 2016, 04:44:30 AM

Quote from: TastyChillySauce00 on September 30, 2016, 02:44:38 AM

Quote from: goldcoinminer on September 29, 2016, 10:06:48 PM

Quote from: Mr. Big on September 29, 2016, 09:39:45 PM

Quote from: bamboylee on September 29, 2016, 09:33:17 PM

Quote from: TheUltraElite on September 29, 2016, 03:17:20 PM

As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.

40% of your earnings is too high of a target. Normal people receiving minimum salary will have a hard time keeping up and will frustrate them. Soon they will stop saving because of that. It is better to save small percentage but can be consistently done without straining too much your budget.

Yup, 40$ was too high, not all of us is high earners where we could keep almost half of out salary, mostly we just receive enough salary so keeping 40% of it might just compromise your living or might result to problem... I think computing about how much you will save should be after buying all your basic needs, the leftover money should be the target of our savings, that's the money where we could mess around whether we are going to save it all or spending it to something else...

The most conservative approach IMO is just to save at least 10% of your earnings so you can still live a normal life, we are living in this world to enjoy and do our responsibility in the society and that is to balance of way of living as well. If we save at least 40% of our earnings we are not living a balance life.

it's indeed you'll not living a balance life if you saved about 40% but it's temporary,after you're done saving you can but what you want and then get pleased for what you've done by saving money,you need effort first to get a good result

For me saving should be done continuously and not just temporary that is why I choose to save smaller percentage. As long as you can earn, you must save a part of your salary. When you have accumulated a large amount in savings, then you can use them on different things like investment, retirement, emergency funds and leisure.

Exactly, keep on saving on regular basis from your salary, you can save them in banks or in fixed deposits where you can get higher interest and once you have enough savings you can go for investments.

molsewid

hero member

Activity: 2170

Merit: 530

Saving money while you had so much money on your hand is really hard bcoz you need money daily to support your daily needs specially your foods daily and for me opening a saving bank account is good you can lut your money there.

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: TastyChillySauce00 on September 30, 2016, 02:44:38 AM

Quote from: goldcoinminer on September 29, 2016, 10:06:48 PM

Quote from: Mr. Big on September 29, 2016, 09:39:45 PM

Quote from: bamboylee on September 29, 2016, 09:33:17 PM

Quote from: TheUltraElite on September 29, 2016, 03:17:20 PM

As long as you keep track of your earnings and your expenditure, you should not have much difficulty in saving. Try to keep a certain ratio between the two, like 40% of earnings go to saving and rest 60% to expenses. Emergencies may arise then you may need to spend more. But every month try to maintain it and you should do fine.

40% of your earnings is too high of a target. Normal people receiving minimum salary will have a hard time keeping up and will frustrate them. Soon they will stop saving because of that. It is better to save small percentage but can be consistently done without straining too much your budget.

Yup, 40$ was too high, not all of us is high earners where we could keep almost half of out salary, mostly we just receive enough salary so keeping 40% of it might just compromise your living or might result to problem... I think computing about how much you will save should be after buying all your basic needs, the leftover money should be the target of our savings, that's the money where we could mess around whether we are going to save it all or spending it to something else...

The most conservative approach IMO is just to save at least 10% of your earnings so you can still live a normal life, we are living in this world to enjoy and do our responsibility in the society and that is to balance of way of living as well. If we save at least 40% of our earnings we are not living a balance life.

it's indeed you'll not living a balance life if you saved about 40% but it's temporary,after you're done saving you can but what you want and then get pleased for what you've done by saving money,you need effort first to get a good result

For me saving should be done continuously and not just temporary that is why I choose to save smaller percentage. As long as you can earn, you must save a part of your salary. When you have accumulated a large amount in savings, then you can use them on different things like investment, retirement, emergency funds and leisure.

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