We can't apply these tips to average earners even if they will force themselves to have savings.
That's the reality that most people and families experience not just in third world countries but in developed countries as well. Those savings tips should be quite easy to follow if only the salary is well enough to support all expenses while still having lots of money left which can be spent on miscellaneous things.
To solve that, people should find a way how to earn money by working wisely and smart and not purely working hard. It's difficult to have that kind of working nature that's why I hope those people who are doing their best to earn money every single day will be successful someday.
Topic: Tips to save my finances, to grow personal economy - page 4. (Read 1044 times)
Frugality, making savings is literally what most do thinking that they are secure because they have money. But I tell you that there is nothing will happen and grow/multiply your money in this way, investing is the most ideal when it comes to this.
You can have your financial freedom and reach your goal in business or investing but yes, you have to face the risks which is one reason some people afraid. I'm not going to say that you have to unless you are willing to do so. Have to think about it several times before deciding.
Its good to see yourself being frugal as it gives you advantage to earn and save your money. However, the money you keep on saving the whole time will never increase and grow unlike when you take the risk and put them into investments. That way, once your investment works, your money will generate to create more money, that makes you financially secured in the long run. Now if this is your own vision to yourself, start investing now but learn to save first your capital and research so you can come up with a right choice of investment. You can have your financial freedom and reach your goal in business or investing but yes, you have to face the risks which is one reason some people afraid. I'm not going to say that you have to unless you are willing to do so. Have to think about it several times before deciding.
As we can put it, money is just only one of the facets how we survive on this world. But it is not the ultimate reason for living. We have other means to survive and with this in mind, we need to take care of our mental and physical health. There's nothing wrong if our savings or investments is small. As long as we are happy and contented with our own lives, that's much better than worrying too much that we don't have.
But humans are unique creatures, they can force something for their passion where sometimes the risk is ignored. A person can spend 20 hours a day for working just for money, they reduce their rest hours, they continue to work just for the purpose of making money and money but in reality they have unknowingly ruined their 4 hours of sleep just for the sake of money. It is true that having a lot of money and being rich is everyone's dream, but when it interferes with a healthy lifestyle, especially regarding health, it will obviously harm yourself in the future.As long as you are able to save and invest even in small portion every month I think that would be enough. We dont need to force ourselves in things that are hard for us to do. If you know that your monthly income is just enough for the expenses and you're determine to save then its time to look for other resources to have additional income.
Oh yes, don't forget to be grateful for all the blessings. I also forgot to say that for every sustenance we make today, there are other people's rights there that we may have to share. Believe it or not, giving something of value to people in need will multiply our sustenance, this has really been proven true. 
Many good tips here. Making sure that you save and invest your savings in assets is never wrong. What kind of assets could be trickier but preferably in something you have some knowledge in. Could be crypto, stocks or real estate. If you havn't read "Rich dad, poor dad" it could be a great introduction to a mindset to grow your personal economy. Very basic but still potentially helpful.
Wise investing, smart spending, and self-discipline are the keys to pursuing these tips easily. There will surely be hardships in managing our finances since temptations are everywhere but we have to get through all of them to have financial freedom in the future. As much as possible, we must allocate enough funds from our salary for investment. Through that, we'll be able to prepare for a profitable future. 
Avoid making debt, prioritize paying for goods and services at once, always seeking for discounts and additional benefits from the seller for doing this.
When hiring a service or purchasing a product, don't go only for the cheapest ones, rather go for the most cost-benefit ones. It will save you a lot of money on long run, because cheap things usually break faster and don't last for too long.
Stop saving money in fiat currencies. Swap your money into cryptocurrency or invest in goods and properties. Even bottles of wine can be a good choice to cheat corrosive inflation.
Avoid debts or taking up loans when its not necessary which it is indeed true that this one would really be that putting you on much bigger problems later on.Diversify as much as you couldWhen hiring a service or purchasing a product, don't go only for the cheapest ones, rather go for the most cost-benefit ones. It will save you a lot of money on long run, because cheap things usually break faster and don't last for too long.
Stop saving money in fiat currencies. Swap your money into cryptocurrency or invest in goods and properties. Even bottles of wine can be a good choice to cheat corrosive inflation.
and speaking with inflation then it would really be just a typical thing but it could really be covered up if you do have other sources of income and not just focusing on your day stable job.
You should be wise when it comes to finances on where you shouldnt waste up on where you do gonna spend and where you should really be prioritizing things.
Loan when its necessary or simply with emergencies and important stuffs but speaking about wants then it would create huge problem.
This point is often encountered among socialites who only have limited finances, often forcing themselves to appear as luxurious as possible so that they are said to be the richest people when in fact the opposite.
In the principle of life, one does not need to take care of others with the finances they can afford. But what we often find is jealousy when other people can achieve what they want while we often pay attention to other people and comment on their every action. Living well is frugal, without showing off clearly is not easy, seeing the surrounding environment sometimes encourages us to be more in line with forcing the inability to have.What we need to do is not comment on other people's economic life. But it's more about improving ourselves and adapting to what we have.
Avoid making debt, prioritize paying for goods and services at once, always seeking for discounts and additional benefits from the seller for doing this.
When hiring a service or purchasing a product, don't go only for the cheapest ones, rather go for the most cost-benefit ones. It will save you a lot of money on long run, because cheap things usually break faster and don't last for too long.
Stop saving money in fiat currencies. Swap your money into cryptocurrency or invest in goods and properties. Even bottles of wine can be a good choice to cheat corrosive inflation.
When hiring a service or purchasing a product, don't go only for the cheapest ones, rather go for the most cost-benefit ones. It will save you a lot of money on long run, because cheap things usually break faster and don't last for too long.
Stop saving money in fiat currencies. Swap your money into cryptocurrency or invest in goods and properties. Even bottles of wine can be a good choice to cheat corrosive inflation.
- 5. Stop showing off. Nobody is actually impressed or intimidated by your expensive shit.
This point is often encountered among socialites who only have limited finances, often forcing themselves to appear as luxurious as possible so that they are said to be the richest people when in fact the opposite.
thank you for your tips because it keeps me motivated in saving money
4. Investment, many uses and money works.
Which money works are you referring to?
it is always a good idea to have a diversified portfolio. Defi investment products are a good option, alongside stocks. Have you got some Defi investments?
The tips you said here are all familiar to me and I think I heard these from someone also in a book by warren buffet and another book in the name of compound effect, regarding the second tip mostly people will say I have nothing save and invest because they will spend all the money they earn and then they will try to save everything remains from the money while this is wrong and we should first invest and save the money and then we can spend from everything remains for us, which is an important tip but unfortunately none pays attention to it.
Saving or managing finances is not an easy thing for some people, especially those who are thirsty for eyes to see what they want to buy. And this should be avoided because it is only temporary and not very useful when you are bored, and buy it if it is really useful and also needed.
and to be able to manage finances intelligently, there must be a selection of urgent needs that must be met, especially for the needs of life as a whole to live a comfortable, healthy and strong life.
and don't forget to invest and give charity, some important things I have to do are.
1. Personal and family needs.
2. even if only a little must be set aside for savings, for urgent needs.
3. Alms, this is obligatory for every 2.5% of income.
4. Investment, many uses and money works.
and to be able to manage finances intelligently, there must be a selection of urgent needs that must be met, especially for the needs of life as a whole to live a comfortable, healthy and strong life.
and don't forget to invest and give charity, some important things I have to do are.
1. Personal and family needs.
2. even if only a little must be set aside for savings, for urgent needs.
3. Alms, this is obligatory for every 2.5% of income.
4. Investment, many uses and money works.
Invest a little money for your health as well as for your vacation because you should not only think about the possibility of getting rich in the future about your investment while your health and psychology are compromised. These two things are very important to think about because the body also needs healthy nutrition and the brain also needs relaxation which does not always have to think about money and money.
This is true. Dont be too focus on saving and investing money, we should also prioritize our health because everything will be futile if our health is in bad condition, it can drain our life savings. Thus work to continue earning, save, invest but on top of that is dont forget to take care of yourself. Its beneficial to get an insurance since we dont know what lies ahead.It's true to live a simple life, but you don't have to cut too much of your life just to prioritize investments. 5% to 10% of your total budget is also a good range for you to invest as long as it is consistent with it. So don't worry too much about it because life isn't just about money.
As long as you are able to save and invest even in small portion every month I think that would be enough. We dont need to force ourselves in things that are hard for us to do. If you know that your monthly income is just enough for the expenses and you're determine to save then its time to look for other resources to have additional income. Many good tips here. Making sure that you save and invest your savings in assets is never wrong. What kind of assets could be trickier but preferably in something you have some knowledge in. Could be crypto, stocks or real estate. If you havn't read "Rich dad, poor dad" it could be a great introduction to a mindset to grow your personal economy. Very basic but still potentially helpful.
Yes, there's some good tips here already that I saw except from the op so make sure to take down notes in case you haven't yet, I mean if you don't save yet but you are looking forward of doing it, now can be the time and this thread here was the sign that you are looking for. Saving and investing are different things, so our savings should be separated as that will be used for important situations in the future and should not be used in investing.Investing on the other hand is not wrong but as long as you are investing on the right assets. If you want cryptos, it's not that tricky since there is bitcoin which is known to be the popular and also the safest coin for newbies.
health must be prioritized. because even if we become rich in the future. but if we have health problems then of course we can not enjoy wealth perfectly. so you are absolutely right. that setting aside for health and all things related to relaxation and reflection, entertainment is also necessary to maintain physical and psychological health. and save as much as you can and don't push too hard. because something that is forced will produce a mental pressure that makes life less happy. keep enjoying life and also save as much or as much as you can.
This is something that is important to emphasize, a great deal of people keep chasing wealth because they believe wealth is going to bring them the greatest amount of happiness, but they exchange their health for their wealth and that is a very bad trade, because I have seen people that have worked for all their lives and they have earned a good amount of money but now they have to spend all of that money just to try to recover the health that they have lost, so they do not get to enjoy their life anywhere near as much as those which got to keep their health.
I think the most important thing when managing finances is to have to strict in expenditure, now too much temptation for expenses, do not install online shopping applications on smartphones because unexpected things often occur, besides that we must always look for sources of income so that we can cover unexpected expenses.
These tips are often shared by me from economists, especially in financial management. It's just like you said that the lifestyle and needs of different people will be something that cannot be easily managed effectively. I agree with all suggestions or advice so that we can place good finances monthly with sufficient allocations. Maybe there are several principles that I often apply, one of which is that while I can still use a cheaper alternative, that's what I take.
maybe you can add tips from your experience all.
Invest a little money for your health as well as for your vacation because you should not only think about the possibility of getting rich in the future about your investment while your health and psychology are compromised. These two things are very important to think about because the body also needs healthy nutrition and the brain also needs relaxation which does not always have to think about money and money.It's true to live a simple life, but you don't have to cut too much of your life just to prioritize investments. 5% to 10% of your total budget is also a good range for you to invest as long as it is consistent with it. So don't worry too much about it because life isn't just about money.
2. Buy only what is needed, and put aside the things that are only wanted but not needed.
This step is the most difficult for me. because sometimes I can't stop myself from things that I really want but really are not the main need.but because I'm already married then I became able to restrain myself in the end. because I have to prioritize the needs of my children and my wife. my love for family is able to conquer the ego within me.
Because now I'm also saving to make a dream house for me and my wife and children.
so I also do a record for every money that comes in and out.
I also invest in bitcoin and some altcoins.
But when we are frugal, we must not forget to still be able to share some of our wealth to people who need it more. And don't forget to always give gifts to parents who have raised us. and share happiness with others even if only a little.
because our kindness to others is also a saving of service in the future. because humans need each other and cannot live alone.
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Of course, investment should not be forced if it interferes with your other needs. Welfare is not only measured by how much money you have, but of course your quality of life must also be good even if the investment is not much. The same goes for work, you should not be enslaved by work. You have to take a break because again, money is not everything in life even though life requires money.As long as you are able to invest, regardless of the amount [a little or a lot] then do it to the best of your ability. 5% - 10% of your total income doesn't matter even if you can't always maintain consistency, because the most important thing is that you have it.
As we can put it, money is just only one of the facets how we survive on this world. But it is not the ultimate reason for living. We have other means to survive and with this in mind, we need to take care of our mental and physical health. There's nothing wrong if our savings or investments is small. As long as we are happy and contented with our own lives, that's much better than worrying too much that we don't have.
that it is really just part of human nature on having these intentions in mind where accumulating money as much as we could.Even some people say that money isnt everything but the truth that you cant really make
those things possible if you arent having the money.Lets say when it comes to daily survival and other leisure things where you could really only attain if you do have the money.
Sustain is what you do need and if you do wish to have a financial freedom then you should do all sorts of things.
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