Topic: How to save money. - page 184. (Read 345783 times)
I also live in philoppines . But my example is the current wage in the US, so that their wage is enough to live and they have also a savings. In the philippines the wage of employee is not enough to live, theres many expences, like paying bills, foods and etc. But, if you want really to save, its up to you not in your wage. You have choices save your money if you really want or dont save thats easy.
Nice to see my classmate post in here. Finally managed to get him in here and know what bitcoin really is. A great start, dude. Keep it up.
As for the topic, it is indeed true that you must save some of your salary in case shit happens. It's better to be safe than to be sorry after all. 20% is a good percent if you might ask me, and as you have stated, it can be divided into two different ratio: emergency and cash reserves. In this way, you might avoid the hassles of loans whenever an emergency happened when you least expected it. Also, you can have something to spend whenever you run short of your salary.
Yes. Discipline is what the younger generation lacks today. We tend to be pressured by different trends and sometimes "want" to be in the trend so we end up spending rather than saving.
We live in the Philippines. The minimum wage is Php 429 (or $9.57 at the time of writing) for 8 hours. Very low, yes. You can't even live decent with those for a month, so people end up being indebted and therefore cannot save money for whenever an emergency occur. But amazingly, people can go with it, but tbh, the wage is so low that you cannot live very comfortably with the salary you might receive on your payday.
As for the topic, it is indeed true that you must save some of your salary in case shit happens. It's better to be safe than to be sorry after all. 20% is a good percent if you might ask me, and as you have stated, it can be divided into two different ratio: emergency and cash reserves. In this way, you might avoid the hassles of loans whenever an emergency happened when you least expected it. Also, you can have something to spend whenever you run short of your salary.
I believe in only spending when it is necessary. The worst is taking loans to buy stuff that depreciate in value. Younger generation these days tend to spend indiscriminately leaving very little for savings. When it comes to saving it's a matter whether one has the discipline to do it.
Yes. Discipline is what the younger generation lacks today. We tend to be pressured by different trends and sometimes "want" to be in the trend so we end up spending rather than saving.
Good post, I will keep this in mind (20% of salary sounds good but some people might not have enough of a salary to save that much), but how are you making $7.5 an hour. I am assuming you live in a country other than the US or Canada where that wage would be illegal because your language/grammar is a tiny bit off and the wage of $7.5 would be illegal here. Where are you from?
We live in the Philippines. The minimum wage is Php 429 (or $9.57 at the time of writing) for 8 hours. Very low, yes. You can't even live decent with those for a month, so people end up being indebted and therefore cannot save money for whenever an emergency occur. But amazingly, people can go with it, but tbh, the wage is so low that you cannot live very comfortably with the salary you might receive on your payday.
Good post, I will keep this in mind (20% of salary sounds good but some people might not have enough of a salary to save that much), but how are you making $7.5 an hour. I am assuming you live in a country other than the US or Canada where that wage would be illegal because your language/grammar is a tiny bit off and the wage of $7.5 would be illegal here. Where are you from?
I believe in only spending when it is necessary. The worst is taking loans to buy stuff that depreciate in value. Younger generation these days tend to spend indiscriminately leaving very little for savings. When it comes to saving it's a matter whether one has the discipline to do it.
Theres a different kind of people. Theres like a happy life, but not good. All of people have choices so choose want do you want and makes you happy
Good advice, even tho saying "you don't need this" is relative tho. Sure thing, the only things we legitimately NEED is basic needs, the rest is relative and depends on the POV. For example for me, I needed to upgrade my computer recently, maybe other person could have said "you don't really need a better graphic card" but in my POV i really needed it so fuck it, I bought a new one.
This is my first post. Please do respect
My post intention is to help readers to save their money.
Some of the employee are not saving their money. They spend it on things that they dont need. For example gadgets,buying a concert ticket, accesories, etc.Buying things that not they need is also like a wasting money. Because this thing give a happiness not a good life. Saving money is just like securing your future because your savings can help you in emergencies. These are the way to save money .
If you are empolyee. You must save atleast 20% of your salary. The 20% of your salary divides into two .
The 1st way : cash reserves- medical insurance, retirement, life insurance and if you not have salary yet. And emergency. But dont spend all of you 10% in this emergency. You must know if the injury is serious o not before you spend the 10%.
The cash reserves must equal of your 6 months salary this will help you and ensure you becauas of you loss your job you have extra money .
The 2nd way : investment, business- you can invest in some company so that you have a extra income. And you can also built a small business that will always have an income like apartment.
Example. My wage is $ 7.5 per hour and i work for 8 hours and i work for 20 days. So thar my salary is $1,160 . The 20% of $1,160 is $232 .
So that my cash reserves is $ 116 i can spend this money in emergencies and medical insurance.
If my 6 month salary is $6,960 i can stop my saving money in cash reserves.
Thank you .
My post intention is to help readers to save their money.
Some of the employee are not saving their money. They spend it on things that they dont need. For example gadgets,buying a concert ticket, accesories, etc.Buying things that not they need is also like a wasting money. Because this thing give a happiness not a good life. Saving money is just like securing your future because your savings can help you in emergencies. These are the way to save money .
If you are empolyee. You must save atleast 20% of your salary. The 20% of your salary divides into two .
The 1st way : cash reserves- medical insurance, retirement, life insurance and if you not have salary yet. And emergency. But dont spend all of you 10% in this emergency. You must know if the injury is serious o not before you spend the 10%.
The cash reserves must equal of your 6 months salary this will help you and ensure you becauas of you loss your job you have extra money .
The 2nd way : investment, business- you can invest in some company so that you have a extra income. And you can also built a small business that will always have an income like apartment.
Example. My wage is $ 7.5 per hour and i work for 8 hours and i work for 20 days. So thar my salary is $1,160 . The 20% of $1,160 is $232 .
So that my cash reserves is $ 116 i can spend this money in emergencies and medical insurance.
If my 6 month salary is $6,960 i can stop my saving money in cash reserves.
Thank you .
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