Topic: How to save money. - page 174. (Read 345783 times)
there are many easy and simple ways to save money just have an piggy bank at home where you start saving small amount of money but over a period of time you will find a great fund which can be utilise at the time of emergency like medical bills or phone bills which will be helpful.
the best way of saving money is to have a spending plan. with a plan you will figure out what is your income and what are your expenses once you these two things you can look for ways to reduce your expenses or increase your income to allocate an amount of money you can afford to save.
I agree with the concept of saving money for emergency. Although some people don't earn enough for that. All they earn goes for basic expenses, food water etc. For those who have some money to spare, I don't agree that going to a concert or something like that, that gives you some pleasure is the same as wasting money. Good health is not just on a physical term, it's also on a psychological level, and you absolutely need to spend some money for things you like. That is not wasting money, that is taking care of yourself.
Obviously there must be a good management of all this aspects, and that is the key. About the tip on investing money on bank savings or a company etc, I see it as a huge risk though, and I'm not sure you should risk 10% of your savings in that. It seems to much. (a lot of people in Portugal lost theis savings on a bank for example)
Obviously there must be a good management of all this aspects, and that is the key. About the tip on investing money on bank savings or a company etc, I see it as a huge risk though, and I'm not sure you should risk 10% of your savings in that. It seems to much. (a lot of people in Portugal lost theis savings on a bank for example)
to save money one should open a savings a/c in a bank where some part of wages u can transfer from your salary a/c bank will pay you interest annually which can be a profitable. and stop spending on useless expenses just try to postpone the expenses this is the best way to save money.
i think there are many easy ways to save money for eg you can postpone your purchases and reducing the telephone bills and keep part of your wages for some investment that will help in future right now you will feel that its an expense in investing but in future you will be getting best returns.
the best way to save money is to spend less. it really doesnt depend on the wages that u r getting but it totally depends on you how to save money u need to keep the monthly record of expenses and sort out where the most of money is getting spend and try to reduce in future.
i think we should keep the records of expenses then only its possible to tighten our budjet. we need to look at the areas of expenses and we should track it on the monthly basis and improvise it in coming future so it will definitely help us to save money.And it will be definitely a profitable source.
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Yes its true the value of bitcoin is still volatile but if you really can do trading you can even get a bigger profit and we will change everything like as easy as flip coin. Altough its easy it doesnt mean you need to buy it with your hard earned money, you can save a little for bitcoin and you can use the rest for your living things. Its up to you how are you gonna do it
Actually I dont think I will do anything to my own bitcoin since I bought it, may be just a little gambling and then I will do trading for the rest altough the bitcoin still in a volatile condition. So what that matter to you?
Yes it still depends on you whether you going to gambling or not because it can double triple your money in a second but it also can lost just in second but if you never try you will never know the result
I (a "she" by the way;-) likes the pre-tax of the 401k, and you can withdraw out of your 401k early (but there will be penalties).
Of course other things like real estate and bitcoin are of interest as well
Of course other things like real estate and bitcoin are of interest as well
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Yes its true the value of bitcoin is still volatile but if you really can do trading you can even get a bigger profit and we will change everything like as easy as flip coin. Altough its easy it doesnt mean you need to buy it with your hard earned money, you can save a little for bitcoin and you can use the rest for your living things. Its up to you how are you gonna do it
Actually I dont think I will do anything to my own bitcoin since I bought it, may be just a little gambling and then I will do trading for the rest altough the bitcoin still in a volatile condition. So what that matter to you?
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Yes its true the value of bitcoin is still volatile but if you really can do trading you can even get a bigger profit and we will change everything like as easy as flip coin. Altough its easy it doesnt mean you need to buy it with your hard earned money, you can save a little for bitcoin and you can use the rest for your living things. Its up to you how are you gonna do it
Actually I dont think I will do anything to my own bitcoin since I bought it, may be just a little gambling and then I will do trading for the rest altough the bitcoin still in a volatile condition. So what that matter to you?
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Yes its true the value of bitcoin is still volatile but if you really can do trading you can even get a bigger profit and we will change everything like as easy as flip coin. Altough its easy it doesnt mean you need to buy it with your hard earned money, you can save a little for bitcoin and you can use the rest for your living things. Its up to you how are you gonna do it
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Yes its true the value of bitcoin is still volatile but if you really can do trading you can even get a bigger profit and we will change everything like as easy as flip coin. Altough its easy it doesnt mean you need to buy it with your hard earned money, you can save a little for bitcoin and you can use the rest for your living things. Its up to you how are you gonna do it
Compound interest is the magic. Here is well explained what compound interest can accomplish for you: http://www.daveramsey.com/blog/how-teens-can-become-millionaires/
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
Of course they are, especially in the euro zone let's see how much you can earn. Starting from 2.000€ with current interest rate of 0.15% starting from now:
year sum yearly interest rate
2015 2000 € 0.15%
2016 2003 € 0.05%
2017 2004.0015 € 0.01%
2018 2004.2019 € -0.05%
2019 2003.199799 € -0.1%
2020 2001.196599 € -0.5%
2021 1991.190616 € -1%
2022 1971.27871 € -2%
2023 1931.853136 € -5%
2024 1835.260479 € -10%
2025 1651.734431 € -15%
2026 1403.974267 € ....
Wow bro I`ve really became rich by compounding my 2000€ in a Eurozone Bank, not to mention that by then the inflation would probably be around 300% so yeah, my -600€ net profit really beated inflation. Keep the good work up and spread this information, its really wise
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Yes but -15% interest rate is my favorite, especially if you mix it with a 400% inflation rate that is caused by overprinting of fiat toilet paper.
I think the EU zone will end up like Zimbabwe.
Compound interest is the magic. Here is well explained what compound interest can accomplish for you: http://www.daveramsey.com/blog/how-teens-can-become-millionaires/
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
There are a couple factors that usually get in the way of the compound interest example in the link you provided.
1) It assumes a 12% annual rate of return - You need to take some risk to get that type of return, likely from equities (stock market), and most people are not able to get attain 12% every year. Most people can't even beat the market, and the average market rate of growth is 7%.
2) It assumes that you won't use the money until the age of 65 - Most people will want to use at least part of that money to enjoy life while they're still relatively functional in their early years. Few people are willing to live in the shit part of the neighbourhood, AND have a million dollar retirement savings account that they're not touching
A more realistic example would be compounding interest with a 1.5-2% "high interest" savings account or GIC. It likely doesn't even beat inflation.
Yeah I agree that 12% is quite optimistic, but the example just shows the power of compound interest.
Dividends including the average annual rate of return is still around 10%.
Why is 1.5-2% savings account that doesn't even beat inflation more realistic? Only stupid or old people would do this.
If you are young and have long investment time, there is no reason to go for savings account. It's either stocks or real estate IMO.
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Compound interest is the magic. Here is well explained what compound interest can accomplish for you: http://www.daveramsey.com/blog/how-teens-can-become-millionaires/
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
There are a couple factors that usually get in the way of the compound interest example in the link you provided.
1) It assumes a 12% annual rate of return - You need to take some risk to get that type of return, likely from equities (stock market), and most people are not able to get attain 12% every year. Most people can't even beat the market, and the average market rate of growth is 7%.
2) It assumes that you won't use the money until the age of 65 - Most people will want to use at least part of that money to enjoy life while they're still relatively functional in their early years. Few people are willing to live in the shit part of the neighbourhood, AND have a million dollar retirement savings account that they're not touching
A more realistic example would be compounding interest with a 1.5-2% "high interest" savings account or GIC. It likely doesn't even beat inflation.
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
Putting small change into Bitcoin is one thing, substantial investment is another.
I would be devastated if I had put in my hard-earned money into Bitcoin when it was $500+ and discovered that its value had halved in a short period of time.
Compound interest is the magic. Here is well explained what compound interest can accomplish for you: http://www.daveramsey.com/blog/how-teens-can-become-millionaires/
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
The thing is that people tend to live on today never worrying about future.
One could easily retire at age of 50 with a million bucks but nobody wants to do this.
Of course they are, especially in the euro zone let's see how much you can earn. Starting from 2.000€ with current interest rate of 0.15% starting from now:
year sum yearly interest rate
2015 2000 € 0.15%
2016 2003 € 0.05%
2017 2004.0015 € 0.01%
2018 2004.2019 € -0.05%
2019 2003.199799 € -0.1%
2020 2001.196599 € -0.5%
2021 1991.190616 € -1%
2022 1971.27871 € -2%
2023 1931.853136 € -5%
2024 1835.260479 € -10%
2025 1651.734431 € -15%
2026 1403.974267 € ....
Wow bro I`ve really became rich by compounding my 2000€ in a Eurozone Bank, not to mention that by then the inflation would probably be around 300% so yeah, my -600€ net profit really beated inflation. Keep the good work up and spread this information, its really wise
It is just wasting time there and your money can't even be withdrawn and that is for 10 years. Imagine that if you convert your money into bitcoins now and how much will you get after 10 years and you still can withdraw your bitcoin anywhere and at anytime
I know some people who just go out and spend a ton of money for the heck of it... It seems like women in particular do this with getting tons of clothes etc, though I know of a couple men who buy new cars every year just for the heck of it. If this kind of needless spending was avoided, maybe they wouldn't constantly have debt to worry about. If people focused on making things (writing, playing music, building, drawing, programming) for fun instead of consuming things (eating out, buying tons of junk, going to movies) then they would probably be a lot better off.
Bro i know a guy who changes his phone every fucking month, its not just women. Then i know a couple who go on vacation every single weekend.
People are addicted to consuming. I`m not saying dont do it, you must live your life until you can, but i`m saying most of these people (since they dont have any reserves) end up heavily in debt once shit hits the fan, or become homeless easily.
Wreckless spending and not paying attention to your money can cost you dearly after something unfortunate happense to you, so i think everyone should have reserve money, which is exactly what the current monetary system discourages!
I agree. That's exactly how I was during the 90s. I had a very successful business and I thought the money would never end. I would vacation 4 or 5 times a year and I spent most of my weekends either at the coast or in Vegas. I didn't save more than a few thousand dollars. Then the bottom fell out. Now I'm nearing retirement age and can't afford to retire.
Savings are SO important. I wish I had saved.
You are too loyal for around 90s. What did you till you didnt even have a time to save you money? Altough if you didnt save it you must have some kind of retirement fund that you plan at first right after your business run well. And going for vegas on every weekends is a bad idea to spend all your time and money
Jump to: