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We all want to save money, but it's not always easy.
There are so many things that tempt us to spend, unexpected bills that pop up, and it can be hard to make ends meet.
How do you manage to save in a world that encourages spending? Let's talk about it.
Share your ideas, tips, and stories about saving money, and together, we can figure out how to get better at it. (We will also draw valuable lessons from the mistakes and experiences of others.)

Mate this topics have been treated so many times in this forum especially in this board. I can't drop links to related topics but make use of search button and when see em, drop your comment learn from previous comments..

Surely it will be discussed here in this thread cuz there are people willing to contribute but maybe next time before you create you check..

Here is what I usually suggest:

1. Make a list of things you spend money and your earning last month from all possible sources. This should give you an idea of monthlies and then you can decide which ones you can cut down on.

2. Spending a thousand bucks on food order-in more than 10times per month is a waste as compared to a humble 2times per month with family cooking the rest of the month.

3. Taking the commute in public transport than a Uber surely saves 10x of your money per day.

4. Keeping a single sim card for all sorts of stuff can half your mobile topup spending then double sim card that people commonly use.

5. Cutting down on entertainment costs can lead to a dull life but as a student you might get that to your advantage - this includes paid TV services and all that. You can always use torrents for any show that you might want to watch when trying to wind down.

Remember that spending of money is always by channeling the seven sins of humans. Control them and you can save a lot. Try this yourself and see how much you can work it out.

First things first, stop looking at others that is what influences you to spend on items that you don't need but are manipulated to have one for example Iphone is a great example that you are manipulated if you don't have Iphone then you are poor. Iphone is not necessary a similar device can be bought for $200 Android too so that $800 can be saved.

Make a monthly budget according to your income and only allocate 70% of it for spending no matter what, the remaining 30% should be going for your savings and once there is enough amount in that then it should be invested, and that investment will give you passive income and that is how you can increase your standard of life step by step.

 To save can be really difficult especially when earning little or you don't have control but you can make it work when you try these things;
 
 1- create a budget and try to live by it else it becomes pointless.
 2- Ensure not to focus more on your wants(buying things that are not needed), more or less being an impulsive spender.
 3-  you can employ opportunity cost; you forego some things so you can achieve another..I'd take @TheUltraElite's #3 advice to heart on this.

It is not always easy to save money, especially when you are around things that tempt you to spend. Sometimes, our environment contributes to our level of saving and spending, so if we feel that our environment is not conducive to saving, then we can change the environment.

Furthermore, inflation contributes to our limit savings since we can only save a percentage of our earnings after removing our money for daily expenses and needs, but due to inflation, the cost of leaving is now high and mostly our earnings are still the same. If that is possible, then we cannot save because the money might not even be enough to take care of our basic needs.

But saving in Bitcoin has now become easier since if you want to save in Bitcoin with some percentage of your salary or earnings, you can use the DCA method to keep saving.

This is interesting. So I want to ask the OP, have you ever felt when you get easy sustenance from work? For example, now you get $100. Well, I'm sure there will be urgent needs that will arise in the next day or two. However, with $100 dollars this can be covered, although not all of it and if you remember you can use at least 10% as a precaution.

That is life. So, just relax and enjoy and be grateful and regarding these tips for management, I think @TheUltraElite is very close to being implemented.
      

The one thing that worked for me, was to avoid walking around in Malls (large shopping complex).. where there are a high concentration of merchants in close proximity. (The temptation is just too much, when you have shops all around you... with large signs that a showing massive discounts)  ::) 

Also avoid buying the latest cellphones or competing with the Jones's ... because you over spend, when you try to compete with friends. I also reduced the money that I pend on takeaways ... by making my own "cheaper" food.  ;D ;D 8)

The bills in life will not appear by themselves to anyone (including yourself), unless you yourself make the bills appear in your life. Examples include TV, electricity, water and trash bills, if you don't use TV, electricity, water and there is no trash in your house. Then the bills for all those things will not appear in your life or in the life of anyone who doesn't use them, so all the bills that appear are due to ourselves, not other people.

Everyone can look for many ways to do this, because now all of these things are also widely available on the internet and you can also ask several people who have successfully saved in their lives. Actually, the very simple tip for saving is quite simple, you or anyone else just try to use less money than the amount of money you can earn each month or each week. Because the rest is for your own savings and you can try to do this through your level of consumption of money which is usually only used for daily needs, not lavishly on unimportant things.

Stop buying unnecessary things. How to find out what is unnecessary? Buy it, try it, and you'll know. Of course you can't buy a Lamborghini and try it. I'm talking about food mostly. I'm talking about the things you can afford to buy. Thus most things will stop being tempting for you. They are tempting now because you've never tried them before. That's how I manage this problem. Most things don't look attractive to me, I don't want to buy them. If you follow my advice, it will not solve all your problems, but at least you'll feel better in the food department.

Actually the first question popped in my mind is, why people want to spend money to buy anything that they see on the street or their cell phone? I'm not a regular/high spender, so I can't relate why people did that.

My friends sometime ask like this "if you have a lot money, which stuff you want to buy? like branded cloth, lambo, or big house", I answer "nothing, I don't have a dream to buy an expensive stuff". It's not mean I can't afford it, I just never want it.

It's true, it's not easy to save money when our source of income is small and if the expenses required are large then in that condition there is no way to make a savings portion.

Different cases must be handled differently. I mean the condition you are talking about is more about the level of waste where you are not able to spend money according to your needs. The solution depends on how someone can be responsible with their finances and if they don't have good management in managing them, it will be difficult for anyone to get away with wasting money when they spend something they don't need. Usually I will give a portion so that I can determine the amount of savings for the child's future and give my wife full rights to monthly money to solve the kitchen problem for food. I will use the remaining 25% for investments and the remaining 25% for unexpected cash preparations if something is needed.

It is difficult for men to manage finances so it is a good idea for the wife to be involved in this situation, even though we do not give her full access as the holder of financial mandates. Learning to live frugally must definitely involve women and if we do it ourselves I'm sure it won't work. The level of financial waste of men and women is very different and women are much more frugal while being able to maintain a level of stability in dealing with financial problems, that's why I think their involvement is quite important in the household.

I agree, that saving money in today's world can be quite challenging, but it's also incredibly rewarding. I have a few strategies and lessons learned like budgeting which I think is the foundation of any successful savings plan, I have already begun at the same time I started my small business. I'm cutting unnecessary expenses, I used to review my spending regularly where I can cut back. I also avoid debt, for me high-interest debts can eat away my ability to save.

I think I need to consider practicing setting up automatic transfers to my savings account on payday, this way, I can save before I can spend. One more thing is the emergency fund that provides for unexpected expenses / happens.

The difficulty of meeting a person's needs depends on the individual's way of managing their money. Have you thought it through when buying something?. Indeed, many people are tempted to shop at shopping centers such as plazas or malls. If you follow the trends of people around you, you will be trapped by your own finances.

Tips for managing your finances
- Buy only what you need
- Not following someone's lifestyle or trends
- Avoid taking on debt that is not important or has no benefit
- Be careful in managing or spending money

Actually, you can't escape in expenses and responsibility once you become an adult many people think that once you have a job you can now freely do whatever you want with your money but the reality is you need to pay for your food, and financial help to your family, rent, clothes and etc. to survive to your daily basis, you cant achieve financial freedom if you have just single job reason why you need to seek more extra income or deal with business. The major problem of the people who have money now is lifestyle inflation which they increases their expenses too so it is better to make a plan with your money like the 50-30-20 rule. Doesnt mean you have money you can now spend those freely.

Saving is not to become someone who is rich, but savings are intended so that we are able to answer the problem of unexpected needs.
When we want to have savings, it doesn't mean we have to be frugal. especially if we have to reduce our intake of adequate food and nutrition for our bodies. Saving is okay but don't ignore your health..!
What we need to do to be able to have "savings" is to reorganize our spending management and avoid buying useless items that provide no benefit at all and only fill up space. And what we need to do to be able to meet saving is by continuing to expand your business and increasing your income, not by thrifty.

It all begins with cutting down your expenses, like making sure your needs come before your wants. That's the only way you'll have some extra cash to save. However, don't rely solely on saving, because it won't be enough to secure your retirement, especially as inflation can erode the value of your savings. My suggestion is to learn how to make your money grow. So, if you're currently working, consider finding ways to earn extra income, especially through business ventures. Yes, business is the key to financial freedom in the future, allowing your money to work for you.

I know it's not an easy process; we're only human, and temptation is always around the corner. It takes a lot of discipline and sacrifice to save, but as you learn that, you're also preparing yourself to become more mature and capable of taking calculated risks when starting a business.

Just ponder on this: who are the richest people in the world? Aren't they involved in business or entrepreneurs themselves? If your answer is 'yes,' then you should follow in their footsteps. It's not about copying their exact business but pursuing what you're passionate about, where you can channel your energy and enthusiasm.

To save more money, you should either increase your income your cut your expenses. If you can do both, that’s x2 better. There is not other way. If you can find a better paying job, do it. Leave your current job and move to a better job. If you own a business, find a way of attracting more customers. Sometimes paying for ads at fb/inst is a good idea. If you somehow can’t increase increase your income then you should cut your unnecessary expenses. Cancel the subscriptions which you don’t really need. Get a smaller car etc… You should also be smart with your savings. Invest in stuff which creates passive income. Saving usd isn’t enough. If you are a risk taker you may try investing in low cap alts but don’t overdo it.

At first what I did was to write down all the expenses for the month, and make a budget based on them, looking at where I could cut back to save. Then, you have an income that you spend per month, and when you analyze it, you can surely save from somewhere. Although I also tell you that after a few years of doing this, what I managed to do was to increase my income, which makes everything much easier.

I will not call myself a good saver (of money) but still, I think I have a more saving mind than my family members. If I planned to buy one thing with a fixed salary then it is not a problem for me, but still, expenses don't go exactly as we have thought to spend them. And that's the universal rule that we cannot break.

But we can reduce the spending on unnecessary things and can save money on them. Like the following tips will help you to reduce your expenses and increase your savings.

• Try to buy groceries of the house in bulk, instead of buying daily in small amounts because by buying in bulk, we can also get discounts
• If you have a space to grow some vegetables, then grow them, it will save you some amount
• If you have 10$ in your pockets and you are not hungry but you are passing by a shop and start to get a thought of buying something, then suppress that thought, because you are not hungry.
• Buy clothes on sale, not only clothes instead all of the basic wearables.
• Don't buy things that you need to show off like the iPhone 15, because those who don't need it, are also buying it. You can save a huge amount if you would be able to follow this.
• I don't know the Electricity cost in your place, but I try to save a lot here, and it saves me some money too.

Of course earning money is very difficult.So you should spend the money you earn wisely.For example if you are married and if you have sons and daughters then you have to spend money for their maintenance and family but you have to save money according to that percentage.Because for example you earned 100 dollars, from this 100 dollars you spent 60 dollars for your family work, you are left with 40 dollars, this is just an example.Again, from this 40 dollars, you left 20 dollars for your family's treatment, leaving another 20 dollars.You can convert these 20 dollars into the country's own currency and keep it in a family private bank, then maybe you will save some money at the end of the year.

That's so universal strategy you are following, everyone with some salary would have thought to buy all the goods to be used in the house, in bulk. And sometimes, those calculations go wrong, and you might have to buy more. To this date, I am not able to predict how much groceries I need in my home for the whole month. And If I buy all of them at once, I end up buying more even before the end of the month.

And when I compare the amount of groceries bought all at once and on a daily basis, I come to realize that I spend less on a daily basis. Maybe, when I bought in huge amounts, the hearts of our family members also became big and then they started to waste more. Yeah, I will call it a waste because they use more than they need.

I have only a few words for it in our local country which are: When the blanket gets bigger, people start to spread their legs wider. This means, that when the income of a person increases, he starts to spend more. But when a person spends money on household things and ends up realizing that he needs more money then these expenses work as a motivation factor for us and help us to work more and earn more.

I'm pretty sure there are already threads that talks about this topic. I'm sure a lot of answers will just revolve about budgeting, keeping a humble lifestyle, saving, investing, meal planning, and being smart about expenses. I'm too lazy to leave all the threads that asked this very question already but I'm sure it wouldn't take you a few scroll to find them.

if you ready to save money you are ready to abandon consumptive behaviour.
but here's the thing, there's no way you can be really saving money that much nowadays, everything requires you to pay, therefore its just far better if you increase your earning and also have another source of income that way you will not be concerned about living in minimalism and fixated with budgeting, i've never seen personally people that become rich for saving, their saving are already projected and they know how much money they gonna get and usually use it immediately once it saved up to certain amount.
but rich people are getting rich from earning more money.

I guess you are talking about fiat money, right? If yes, You don't need to worry about how to save it. Because it's is very easy like turning the palm of the hand, For example, if you employee, and received salary for each month, Just use that money for your basic needs like bill, electrical cost, gas, water dan food. And the rest, buy bitcoin or crypto you want and save it on wallet where you own the private key. Just simple like that. Because I've experience with that, before I save the rest my salary on bitcoin, I'm very wasteful to use money, I am not controlled and always buy things that I don't need. but, after I saved on Bitcoin, and DCA for each month, I am saving, I also deliberately made it difficult to withdraw Bitcoin from my wallet to exchange by using precise methods (multi-signature with my wife).

The simple thing we do is think simply, don't even think about replacing your mobile phone with the newest type and don't install online shopping applications that make us always tempted to shop, when on holiday stopping internet access is the best solution so that we can always keep it from getting easy. shopping, apart from that we have to make a daily and monthly spending budget.

You are right, spending may sound easy, but it's actually hard to execute. I believe in every goal you make it will most certainly always require sacrifices. In this case, you need to sacrifice some of your leisure that lets you spend money and start cutting those unnecessary expenses like alcohol, cigarettes, and dining in a fine restaurant. These will be your first step. It's always gonna be the start that's very hard, once you see the significant result, you'll get encouraged to even save more. This is based on my experience when I was still saving up for almost 7 years to build my home. It's not a big home but at least I don't rent anymore.
Always remember, it's always gonna be the start that's difficult.

Yeah, I think a budget and having the mentality to keep consumer spending low is essential. I don't think a code or anything is necessary either, which complicates things too much. The generation of our grandparents was something they practiced by default because there was not the abundance of today (I refer especially to developed countries) and saving for tomorrow was necessary, not a difficult option in the face of so many offers, different means of payment and even of financing, as it is today.

1. Pay yourself first by deducting savings from your earned income before spending it on basic necessities and other stuffs.
2. Practice a minimalist lifestyle.
3. Save more by making more - it's hard to beat inflation so having more active income through jobs or passive income through investments is ideal. Go into jobs or trades that actually pays you more based on your performance such as commission based sales.

Kill the spirit of spending your money anyhow, and it will be very easy for you to save any amount of money you want to save in a year that will make you a better investors in the future. We know is not easy to save huge amount of money these days, because of the heavy inflation that is affecting the global economy and is causing the price of commodities to increase daily in the market and is not encouraging citizens to save their money the way they use to saved in the past when the global economy was very good. If you are working in an organization, you can divide your salary into two, and use one part for food items include house rent, children school fees and other things and save the remaining half for future purpose.

Its not just about saving money, its the intention of the savings that keeps the hope alive and encourages you to save more. What I mean is this, there should be a target for the savings. You should have something that you want to use the accumulated money for, maybe to invest it in something meaningful when it accumulates to a certain amount, or use it to execute a project at the long run. With the target in mind, you'll be motivated to pay the price to achieve your aim.

Now to your question, you need a lot of discipline to be able to save.
1. Create another account for the savings purpose only. Estimate the cost of the investment you want to embark on and place a rule not to interfere with the money until it reaches the said amount.
2. Only set  aside from your earnings  that little portion that will not put you under unnecessary pressure and keep saving it consistently.
3. In order to save efficiently, you need to find other sources of income, no matter how small, just do something to keep some like extra funds coming in to compensate for the ones that are saved. This will provide little funds for backup in case of emergencies.
4. Cut your coat according to the cloth. Don't live outside your means or else, saving consistently might be hard.
5. Ensure the savings account collects the money automatically from your earnings cos if left for you to do manually, you might change your mind on some occasions. Automatic savings removes from you the power to prevent the normal savings routine.

You can't save money if you do it at the end, or use leftover money from your salary. If you want to save do it at the beginning, let's say cut 10% whenever you receive your income to a dedicated saving account. But this is under the assumption that your salary is enough for your basic needs. Otherwise, you'll end up with zero or even borrowing money, even when you already live frugally. Anyway, don't waste your time allocating your already small income (for those who need this advice), rather think more about how you get more money/income.

I just avoid spending too much money. Every time I receive my salary, I think of what I need to do like taking note of my expenses, separating the money for my needs, and taking at least 10% for my savings. Always remember that an individual should align their salary to their expenses. It's not a good idea if, for example, you have a $1k salary then your needs and expenses combined are worth $1.5k. Cut out the expenses you don't need, as possible as you can, and think of a way to get a cheap price for everything you need.

And if it's impossible to align your expenses with your salary, it's all about changing careers/jobs or considering having a part-time job. This is the only choice, so you won't be short on your money.

Build a correct mindset. Have some time alone, meditate, and think and feel what you want to do with your life, and then promise yourself to follow the dos and don'ts in order to reach that goal.

So saving is one of the most important things we need to do. Avoid having debts. Budget the money that you have and always allocate a fixed savings. Avoid using credit cards and even debit cards as much as possible since it is easy to spend money using them. Use cash and stick to your available budget. Or at least have a separate debit account for your savings or for your regular expenditures if spending online like for groceries and other stuff is much easier.

Man, I feel this struggle. Saving money in a world that practically begs you to spend is like trying to swim upstream. One trick that's worked for me is automating my savings. I set up an automatic transfer to a separate savings account on payday. It's like a forced savings plan. The money is out of sight, out of mind, and it adds up over time.

Avoid any, and I mean any subscription-type/based payments, primarily the ones that are used for entertainment ones (or loans for outside of it). No matter how much comfort it brings you, it's not a necessity. I forgot where I got it but it was one of the things that I always followed after waking up to it. And since I'm dumb (and relatively new to saving up), i use the 50-40-10 rule, 50% for needs, 40% for wants, 10% for loans/savings. Said 40% usually has extra, so I put it on the 10% if possible.

I also followed through getting hobbies that are inexpensive, in my case drawing. I have a feeling it isn't going to be inexpensive sooner or later though after some arm pain settled in quite frequently :P

It could be that your undisciplined spending habits are the problem. If you cannot control yourself and always indulge in buying your wants, that's where you won't be able to save money. Some truly wealthy people live below their means, even after achieving financial freedom. So, if they can do it in that situation, I believe those struggling to save money should learn this method.

By bringing it up here, it means you've already recognized it as a problem, and there's always a solution to any problem. I suggest that if you can live within your means, you should follow that without questioning. Eventually, savings will naturally accumulate as you minimize your spending and focus only on your needs.

Today's world makes saving money difficult. Everywhere you look, ads, sales, and new gadgets compete for your attention and money. Saving and spending are constantly at odds. People, it's all about discipline, discipline, and more discipline

You must first comprehend the economy's vast supply-and-demand network. When you understand the economy, you can spot trends, forecast market moves, and make better financial decisions. Being one step ahead is key

Next, human behavior. Aren't we creatures of habit? We see, want, buy. What if we waited before buying? "Do I really need this?" The response is usually "No!"

We can and will learn how to save in a world that loves to spend. Always keep in mind that success depends on discipline, comprehension, and being proactive at all times

One of the best ways to learn to save more is by running on a small budget and locking large part of your income you can't easily access for a minimum of 3 months in good investments. The low budget could force you to become creative and more prudent in spending, especially by driving you to spend on cheap and necessary things. And you need avoid compromising on good quality while spending.

I save money only for short-term purposes. Say maybe two to four months. My long-term savings are in Bitcoin. Those are kept for 6 months and above.

For my Bitcoin, immediately after I receive my salary for the month, I buy Bitcoin with a certain amount. I know different things will come that will make me spend the money so I just do this immediately to avoid temptation. It takes discipline and I'm still working on it. Sometimes I default and don't buy Bitcoin but I'm getting better at it.

For my short-term savings, I have a target of a certain amount of money I want to save over a specific period, usually 3-4 months. So once every month or week (depending on the agreement), my bank automatically locks up a specific amount of money in my account but separate from the normal money. They pay interest anyway, but the Interest isn't worth shit as we all know how the banking system works.
I can break this agreement before the agreed date but I'll lose a certain percentage of the money so that makes me not even think about that at all.

It's been working for me so far. I use it to save up money for stuff like rent, fees, and other things I gotta save up for.

It is not easy to save money, and when starts receiving more income they still find it difficult to save money because their expenses becomes high too, and this is the mistake people make. They feel having more income they are supposed to live large and change standard of living and you see that by the end of the week or month their is nothing left in their hands. I think people still need to manage even if they have more sources of income, with this strategy it is very possible to save some money, but if expenses keeps increasing it will be difficult to save some money.

Start by making a monthly budget and enlist every little expense. Make a list of essential commodities and things that can be considered a luxury. Spend less than your earnings. Increase the sources of income by investing in stocks, bitcoin, real estate and liquid assets. Prefer to eat food at home and limit your visits to restaurants. Live in a low-maintenance apartment and travel using public transport. Don't buy an expensive cell phone or a home appliance.
All these things will take time and continuous effort, but in the end, you will have ample savings.

Saving is the power of compounding and the interest it bears is in the long run when it sooths the need for which it was saved.
I learnt of a friend who knew how to save because he made a quarterly budget of his expenses and not with a certain amount, but with a certain percentage for anything he would spend on. He also buys things in bulk in order to save more and have enough to do other things. When we talk of gratification, or fulfilment of a desire or pleasurable endeavour, he takes himself and his family on a vacation once in a year when all his savings has been upheld and quarterly percentage target has been met.

To avoid debts, to payback debts in fractions, to avoid credit cards and loans and to delay gratification has always been the best way to have more money to save. Saving is an insurance against the future and it helps to keep one above a certain poverty level of the mind.

Humans are insatiable, hence the urge to buy many things even when the earnings is not high. Saving is something that is encouraging but it is extremely difficult to accomplish if you are not disciplined. For you to be able to save means you should be able to earn well in order to take care of your daily needs. If your daily needs is not meant, the essence of saving will be defeated. You save from abundance and not out of starvation.
So, to be able to save, you first need to increase your earnings and then reduce your expenses and finally discipline yourself. Save as you can, not saving what you are unable to save and in the end you go back to your savings to empty it.

The people who are most productive with their money will learn and educate themselves about the financial world, primarily how the stock markets work. Companies are churning profits every year and paying those profits out to share holders, who can then either reinvest it or spend the money elsewhere. There's lots of different ways to invest in the stock market, but it's the next step you need to take after building a comfortable savings pot. Some people say you should keep 3-6 months worth of salary in your savings in case you have any problems, after that you need to start putting your money to work for you and the route that most people take is buying shares of index funds,  individual stocks or topping up their pension.

You can't save anything unless you are earning way above your monthly expenditures because inflation keeps going higher over time and the prices of goods and services are rising up really fast with no clear sign of stopping or dropping very soon. In such a situation, one can barely be able to save anything from their income unless, as I said earlier, they are earning way too much that they can't spend it all on their monthly expenditures no matter how much they spend.

So, personally, I'm unable to save anything at the moment because my income doesn't cover all my costs along with savings and I can barely fulfill the needs of the household with the income, that is the reason why I'm always looking for extra sources of income just so that I can also have some savings and don't face any issues with the expenditures.

What you are saying is true and most people can not save money because they don't have a basic understanding of finance. General person opens a bank account and saves some money from their monthly wages. After 20 years they can see that their savings amount is big in number but they don't realize that their money lost 70% of its PPP over these 20 years due to inflation. Keeping paper cash as a savings is the biggest mistake most people make.

If you are planning on having that savings then it would really be needing to go back into the drawing board and list out all the expenses that you do have. IF you do find out that there's one that you could really be able to cut it off or really that needs to be lessen then do it. As long it would really be that compromised then this is something that you could really be able to make up some savings somehow.
If you do find yourself that getting overdropped then this is the best time on telling that you would really be needing another source of income and we know that its never been that simple but somewhat it cant really be that impossible. It todays world where economy becomes shittier on everyday then your income is really just that the same then you would really be coming into a point that you wont really be that
be able to survive on day to day living despite on having your own work.

This is why if you do have plans on trying to be that financially free or doesnt have much problem about finances then getting other source of income would be the key and making
out some actions on which it would be pertaining about investment and businesses on which it could really be that possibly be able to make yourself that to survive somehow.

Bills aren't expected, they're obligations and they come at times that we're expecting them like monthly or every half month. While it's true that it's hard to make ends meet we have to do something in order for us to overcome this problem. Like the financial advisers that I've heard say, it's not about how much you make but how much you save and invest. But if there seems to be no movement at all and you're just spending everything whenever you receive your salary, what you must do is do something different like increasing your cash flow and source of income through having more side hustles. Because no matter how thrifty you are when every expense is going up, you need to add an additional source of money.

i think one way to save even if you feel you have no extra funds is that check those bills how you can lower it down. find a cheaper rent if there's any (if you are renting), lower down your electricity bill by checking what appliances are contributing to this cost, be conscious of your spending with your food supplies. and monitor what you've been buying everyday and see how you can cut those expenses. somewhere, you can find how to lessen such expenses and save a lil bit for emergency needs.
if you will list your expenses maybe for a week or two, you will see where you can remove some unnecessary buys. without being conscious of where you're spending your funds would be hard to cut down your expenses.

You have a working system. Fantastic! All anyone can seem to talk about these days is Bitcoin. You, my friend, are jumping in. Smart move. However, crypto, especially Bitcoin, is a roller coaster. It rises, falls, and sometimes is unpredictable. You know that, right?

Your short-term savings approach is great. Locking money so you can't touch it is discipline. Banks, banks, and more banks... they sure are devious. They offer interest, but it's peanuts. Peanuts! But the fact that you're penalized for breaking the agreement? A big deterrent

You're saving for rent, fees, and necessities. Very commendable. Maintain your momentum and remember that discipline is vital. It's the secret to success, and you're doing well. Continue and get bigger, better results

Try to reduce on everything as much as possible,doesnt matter on how little it is as long you could really be able to find ways on reducing cost because if you have done it then you would really be seeing some changes on how much you could really be able to allocate when it comes to savings thing.We do know that economic problems becomes more worst due to inflation just like on what others been saying on which it might really that sounds too easy to recommend or advise but actually it is really that too hard on making yourself that able to do so due to some circumstances and i could say that it is really that wont really be that easy.Adjustments made would really be needing that extreme discipline and control towards your spending or else then you would really be still on failing.

There's no such thing about cracking code or hidden secrets because you could really be able to just find directly if you do really just that be serious on finding ways on how to save up and
lessen your expenses on which on this way then you could really be able to make yourself that have some progress somehow and starting up to see the results of some adjustments.
It might not be simple or easy but as long it do works then it works.

Saving money at this time will be quite challenging. As we develop and make more money, the economy becomes more difficult. We have a great deal of issues to deal with. You will just see several bills, and we must deal with them. Men find it difficult to save money because they must support themselves. Your ability to solve issues will be more valuable than any money you may make. We continue to experience a variety of issues. I personally do not find saving simple. The majority of us are taking care of our families and ourselves by doing this. Without them, we can't leave them behind. We wouldn't be here without them. However, if you're student in this situation, must set aside money for all necessary expenses.

We should not have long troat is the most successful treatment for this. We shouldn't start making plans to live like our friends just because we notice that they are saving money and doing better than we are. I don't know how the economy is doing in your country, but I think it is not just mine that is becoming worse. Not just for ourselves to save, but for all of us, we are struggling to get this money. Most of the time, when difficulties arise that we weren't expecting, we have little choice but to use the money we were trying to save. I think some of us will save when it's appropriate.

One best things is to make your needs the subject of your wants. Oftentimes we buy things that we don't really need and just go to waste.  Also, save money in a way that you are not depriving yourself. Some don't eat lunch or dinner just for the sake of saving a buck for a day. It's not healthy. If that's the case, you won't stick to that and miss your savings because you cannot actually afford your savings in the first place.

You can simply earn more money. Yeah easier said than done. You have to earn more money whether through business, another job, or side hustles. Then after saving enough, level up that by putting it on an invstment.

We can do this by reducing our spending on things that are not really needed, which will be very helpful. I mean every month we must already have an idea of how much money we will spend on basic needs that cannot be abandoned, because we already know the needs for sure. As for bills, I think we already know how much we have to spend, except for some bills such as vehicle repair costs that are unexpected.
We can do it from the smallest things, don't be too hasty, because things like this also require patience for us to do, to make our financial situation improve.

Just be responsible and that's more than what saving is. Although it is necessary for us to save for the rainy days because we don't know what situation we will be in by that time.

If you're able to pay the bills, be proud of it. Not everybody does that because they don't account their responsibilities like as simple as paying bills.

Start saving like a couple of bucks whenever you receive from any source or profit you make. And practice it until you make it as a habit and from there, you'll get a larger plan that you should save double of that amount until it's more than what you can ever imagine.

And do not forget the typical tip that you'll hear from everybody and that's to only live within your means.

There is always a way as long as you have the desire, self-control is the main key to implementing a frugal way of life in order to achieve a better future using savings that have been prepared in the past. You can create a priority scale by differentiating needs from desires, this way you can control expenses so that they do not exceed income. Commitment from the start will make it easier for you to live a frugal life. When you have set targets to achieve in the future, you will try to save in a disciplined manner.

By making the needs we have to fulfill in line with our desires, of course this will really help us in terms of saving on the expenses we incur because if we have a lot of desires and we can still postpone having them then we will have difficulty in managing the income we have, if We have a lot of income, maybe we don't realize it, but if we only have enough income for our needs and we use it for our desires, of course we won't be able to meet the needs that we really need to fulfill.

If we can get more income according to what we want, maybe it will be easier to manage the expenses we need. You are right that it is very easy to say that we are looking for additional income outside of the job we have, but it will be very difficult to carry out several jobs at once and if we are not consistent in doing so it will certainly make us experience losses that we will incur.

It's true and there is always a way for those who are able to discipline themselves in controlling their finances. Living frugally and setting a small budget for the savings portion can also increase our interest in saving, although the level of productivity of that money will not increase as quickly as placing money in potential investments. It is necessary to distinguish between needs and desires because this is where we can educate ourselves in saving and if we are not able to see the difference, we will actually spend money on desires that are not needed to control our daily needs.

Strive for commitment with the intention to save and always try to be frugal for the reason of not being stingy in meeting life's needs. If a lifestyle like this can be implemented then I am sure we will be able to carry out appropriateness in spending money and most importantly we will have a portion of savings according to the steps that have been carefully prepared.

I think we can all agree on this.

Without set targets, spending remains uncontrolled and savings reduce drastically. Being frugal is often inherent but can be acquired through proper training. Some people are easily coaxed by advertisements, promotional content and word-of-mouth. Being able to control them takes skill but is possible.

Hence discipline makes the cornerstone in all these. Without that a lot of things in life would go haywire.

Yeah, a reduction in spending on things that you don't need is a big thing for your budget. You'll realize if there are things that are unnecessarily included in your budget. If you're into subscriptions, better check it again if you need them because, at most times, you don't. Those little amounts that you will collect on top of that will give you an idea of how much you can save and spend for a year. And if you feel that you're wasting money on them, then that's a knock on your head that you have to spend money wisely only on important things and maybe for some leisures.

1) spend wisely

2) avoid living a luxury lifestyle to impress people

3) avoid unnecessary spending

4) if you want to save, settle for lesser price product

5) make a list of necessary needs, like if you're a salary earner, after receiving your monthly pay, write down list of what you need throughout the month, then you set the money aside.

6) make use of trusted wallets to save your money.

It's hard to save huge amount but small amounts are easy. We shouldn't underestimate it because it can still grow big later on. Inflation affects the value of our money or our savings but I think we shouldn't mind it first if we didn't know yet on how to discipline ourselves to save. If you do already, you can choose to put most of your savings in some valuable assets as they help combat the inflation. Inflation affecting the price of a commodity can be a good thing because we can buy them cheaply.

We can HODL them and wait for their price to recover before we can sell them for profits. Actually if you are already saving in the past, the more you will be encouraged of doing it now. Whether working on an organization or not, the tips that you said about handling our salary is always possible for a person who is willing.

This is actually the most effective way for me, I need to know where my money goes. Only after that I can analyze which of my expense I could reduce and turn it into saving. I think one of the main reason is because I work freelance and I don't have fixed income, so since I can't control my income then I need to control my expense, this way I could spare some of my income to turn into saving.

It's not easy if your salary is sufficient only for the needs or you spend more than what you can earn. If that's the case you have to think on how you can increase your income. It's hard to have a problem financially, therefore do something, strive and don't depend to anyone.

There are many temptations but if you really want to save then you need to control and discipline yourself. Because nothing will happen if you keep spending and then in times of emergency you'll take a loan because you don't have money.

Without having an income, it will certainly be difficult to manage the expenses we need and it is very different from those who have a fixed income. Setting aside the income we have to be able to save is very important for us to be able to do because if we don't have savings it will certainly be very difficult because we work as a freelancer.

I believe that everyone is aware that increasing income is the only solution, but if saving is difficult, increasing income is even more difficult, especially when we are in an economic crisis like today. It sounds easy, but it's really difficult to apply for a job these days.


Compared to increasing income, saving will be somewhat easier because we will be more proactive. But we cannot fix our savings amount because there are many unexpected expenses. We can only limit spending on useless or unnecessary things.

I prefer the solution of increasing income rather than just focusing on saving, so we need to make more efforts even though it is much more difficult.

I've noticed that most people who have a higher income come with a huge cost of expenditure. Seems like it's better to increase your income or add a side hustle while controlling your daily expenses, in that way, you can save more money while making it from your salary. try to avoid or minimize buying things that you know aren't important in your day-to-day living. be wise in handling and spending your money.

I get sick of budgeting most times because my budget doesn't budget at all. This change so fast. Inflation increases the prices of goes in the malls and shops each day that when you look at your budget, you have spent more than you budgeted for.

My new strategies involve putting money out for saving first and use the rest of the money for other things.

A fixed amount of money is removed from my income each month and saved somewhere where I cannot touch it until a maturity period.

The other monies is used to survive the recession and inflation.
That's how I do it.

You must get a good job that pay well first, if you can't get it, even you've cut every unnecessary expense, it's not really worth. Stress is normal in work, so you must entertain yourself, this could be playing game, painting, shopping etc, which needs money. Don't only work and not appreciate/love yourself, you might become depressed etc.

It doesn't make sense in the first place, how you can able to have money when you're not having an income/work? You must work to get income, a poor people who begging is also "working".

Saving requires discipline, and you must be prepared for the obstacles to your plans to save. You have to within the period where you are saving make sure that you are strong willed to not spend out of budget, or spend money on impulse responding to certain situations and unexpected bills.

Plan for everything and have a provision for expected and unexpected expenses in your budget.

Be strict about not touching your savings, you can even go the extra mile of making sure that it is difficult to access so you do not easily get to it under pressure.

Saving the same fixed amount every month is not easy because life is full of surprises but if you can maintain it then you are really good. But I want to know, are you saving in fiat currency or in some other asset? Because as you also said, it is inflation that increases the prices of items and makes it impossible to budget. And if you continue to save in fiat currency every month, those savings will have a hard time saving you when inflation is increasing. You should continue with your strategy but instead of saving in fiat, you can use gold or bitcoin to better secure the value of your savings.

Savings can be made effective with better plans. We should have certain amount allocated for miscellaneous spending. We can't be sure of the monthly spending as there'll be unexpected expenses. When we're in a family, automatically we need to consider all the members. Another issue most of the people face, to the rising inflation the salary isn't increased by the corporates. This will directly affect the savings of the people. To overcome this, better choice will be increasing the number of income streams. Getting registered to some schemes too an effective way to save money.

There is a lot of suffering involved in attempting to accomplish something real in life, but trying to save money is difficult because, as you said, a line needs to be made between needs and desires. The issue currently is that if money is saved in fiat, many circumstances may affect it. It is therefore even more advisable to invest it and for it to be moving around rather than being kept in one place and ultimately being spent. Saving money is challenging because you begin to have many ambitions. and it will be very difficult to make certain decisions. you want to survive you just have to make them.


Even some rich people try their best to control how they spend to the extent they avoid spending on luxury, not because of anything but because they have a target they want to meet. Financial success can be achieved by having good saves and investing some of the funds. Even while saving, there is less interest earned than when investing, even a small amount. Nobody will be able to teach us financial discipline; we will need to figure it out for ourselves. Discipline is crucial because there are many things to spend money on. and also reading books on finance will help.

If you go beyond your budget, and spent money to unnecessary stuff, then there's nothing wrong with the amount you have, you will realize that it's you who has to adjust with these kind of spending. And budgeting requires a common sense, we know goods cost higher these days and you need to adjust with these as well. You don't budget $20 on electricity bill if you are at home with 24 hours ac and computer on.

actually this is the normal thing to do, glad you found out.

Putting it in cold is the best to save it. Not on your cards, e-wallet, or somewhere that can be access online to avoid temptation of spending.

The first thing in the saving money strategy is not to compare yourself to others, this means when you compare yourself with the class who are very rich then it will make you financially unstable as they spend more on useless things, and by competing yourself to them will also tend you to do the same. The second thing is to make a list of the whole need for a single month and store it. This will keep your money from spending more by buying it on a daily basis. For a minimal electricity bill reduced or turn off the lights that are upstairs or in the launch or in the kitchen and always use good quality light whose consumption rate is less. A lot of money is wasted on alcohol and clubbing so stay away from these two especially as they will damage your wallet as well as your health. These are a few suggestions that I use in my life and that's how I manage my fund.

yourself is your enemy when it comes to discipline. no one else. so yeah, stick to your plan and ask yourself why you are diverting at some point. no one can help you in times of need, instill it in your mind so you have strong motivation to save as much as you can.
manage your finances and should not buy unnecessary things. most of the time those extra things will just find its way in trash.

This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.

There is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need.

In reducing expenses, we need to postpone many desires to be able to have them so that the money we earn can still be used to save and if we cannot reduce expenses for the desire to have something then the income we earn will not be able to meet the needs we need, however I think earning extra income is very difficult, but if we have free time then we can learn some skills that we like so that if we are experts in that field then we will get income from the skills we learn.

Yes, and that's why it's really very difficult to some extend because majority of us are impulsive buyers, which means we didn't think about it, we just buy things that are in the end, we will not used it.

So we need to practice delayed gratification, just like what we are here in crypto. We save and HODL for years and then wait for the bull run to occur and then we sell and make profits out of it.

Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.

So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.

So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.

I personally thinking that living frugally is honestly just trying to make your own life difficult, when we are having high income, we strive to get even higher income, that will allow us to enjoy the lifestyle we deserve while though also not indulging too much on luxury items but at least we've got something of quality in our life, after all nobody could guarantee that when we are living frugally, our life could reach until when we are hiting retirement age.
its always good to make the most of the current moment, not thinking too much about the future, so long we use our money wisely for the sake of betterment of our life.
not just keep on saving it mindlessly that we can't even live normally and need to live frugally. I don't think thats good idea.

We can only live once in life, so we should not be too wasteful but also never be too stingy with ourselves. This reminds me of a recent forum debate around investing in bitcoin or buying a new iPhone. I think it's funny for many people to think that if someone buys an iPhone 15 it's a waste and investing in bitcoin is realistic. They buy because of need, buy because they are enjoying life after hard working days, what's wrong with that? While investing in bitcoin, I believe that everyone will have their own plan. I am also planning to buy a new iphone for my wife, am I wrong in trying to bring good things to my loved ones? Meanwhile, the amount I invested in bitcoin was prepared and even huge because I believed in it.

That's what I totally agree with. If you don't have enough money and you start saving from it, even from the beginning like you said, you'll make make your life miserable. And in that state it will be hard for you to work more, or work smarter, or to even think of more effective ways to make money.

Try living the life of not having a lot of possessions, remember that TV show where Marie Kondo does home makeovers and there's a method there that I forgot the name of where you can only keep three things on your house and the rest has to go, I think that it's a good guideline as to how you can minimize your spending in a world that's infested with capitalist consumerism. If you really can't do that kind of thing which is extreme, try to postpone buying that thing that you've been saving for a long time, wait for 30 days or so and do some self-talk about whether you should buy it. Or if you are smart enough and know yourself that you're not afraid of your reflection then just ask yourself if you really need it or you just want that thing, if it falls under need then go for it but if not then you got to let go of the temptation to buy that stuff.

Billionaires have said poor people save money while rich people invest their money. Well, from that point of view we can clearly see differences and it's possible outcome. Saving money is much better than wasting it but investing it to something that will gave us more than the amount we save is the best and wisest choice.

Did you follow that advice and are you rich? That's pretty good advice, but don't apply it rigidly. Instead, you should have strategies and plans that suit your economic conditions. Investing is a way for us to make more money, but don't forget the risks it can bring you. Not to mention that life is full of surprises, so you need to have savings and a job with a stable income before thinking about investing. What will happen to you if your investments lose money, you don't have a stable job, and you have no savings? Think about that before investing.

We should save according to the level of our income, what we should try to avoid is the way we behave when we are having enough opportunities to make savings and yet but utilizing it for nothing, there are times we will be in best position of making money and having earnings enough to have savings, yet some may not do that because they feels it's something they can always get as ever before with the way to the flow of their income, but things aren't like that, there are smooth times and challenging times as well from the flow of income.

In a society that encourages spending money, it is quite simple to solve this issue. First and foremost, you must have decided to try to restrict how much money you spend; this should be the beginning point. Second, make a list of what you want and when you want it, and then prioritise them. The second step is to take some money from where you earn it, either weekly or monthly, and buy the ones you need the most in such a way that it does not interfere with your regular daily expenses when their need comes. If you keep doing this, you'll be able to accomplish a lot more on your list over time. Now, take your mind off spending anyhow you like, because anytime you get attracted to that, you’ll go back to your normal ways again.

Here's the only surefire way you can save money in this day and age:

Allocate money for saving beforehand!

If you're going to save money, don't do the old-fashioned tactic of "saving what's left of my pay", trust me when I say that there won't be anything left of your pay, and the best way you can save money really is through preparing the money before it even reaches your hand. You also have to be prudent and disciplined, create a bank account with a time lock so you couldn't open the money no matter what. And set up a monthly schedule of when you'll be depositing the money. Do all of this accordingly and I'd bet you my bottom dollar that you'd always be able to save money no matter what.

In my opinion, there are two things that make us wasteful and like to waste money, the first is because of an excessive lifestyle and the second is because of our appetite. I once received advice that we should not increase our appetite excessively because it will make us feel that ordinary food is no longer delicious and as a result we will often eat at restaurants. Then when we have adopted a hedonistic lifestyle, especially if we feel jealous because other people have luxury, it will make us willing to do anything for the sake of luxury by living a hedonistic life, that is not a good choice, especially if we are not financially capable of doing so.

It's better for us to live simply and not worry if our neighbors or other people are lucky in terms of money. Being grateful for what we have is the best way I know

truly rich people just gonna start out another company that gonna generates them billions, investing money isn't as easy as it might seem and investing with low amount of money more likely to give small results which also means you are wasting your time compared with investing with hundred of millions.
this is why sometime investing is not really suitable for those that only have small capital because lets be frank small money only good if there's many investors, basically retail investors, investing all at once.
it only matters when the money gathered become millions.
meanwhile the big investors people like the big investment company and venture capital will definitely invest about millions or more.

Another tip that can help you when you are strolling on the mall, is to not go there hungry that's going to cut your spending in there because even if the food is attracting, you're not going to give in because you have a full belly. Your 2nd advice has been my thing ever since I was in highschool, don't get caught in the race towards having all the stuff in the world because the things that you own and plan to own is going to end up owning you eventually.

Sounds like a lack of discipline to me because how can you be tempted to spend your money on things that aren't that important to you? We all have dreams and desires but to make living easier we cut down our expectations and buy things we can only affords, depending on the situation of the person.

I don't find it hard to save money because I do calculation on how much I am spending per week and whatever is left is where I take some savings and investment percentages from.

You don't have to save a lot of money at once, you should do it gradually, just like how you invest in Bitcoin using DCA.

If you know where you are spending your money, you can check those items if they are indeed necessary or not.
You need to remind yourself why you are saving money and that will give you motivation to keep track your savings.
That is true, no matter how much you can save, when those savings accumulate, would be significant already.
What I am doing is list all the basic necessities/bills first, and see where I can save some, and when it comes to food expenses, you need to weigh your choices if you will be frugal about your menu choices or not.

There are two ways to save money, either cut down your expenses so you don't spend all your salary each month, or increase your income by finding a side business. It's hard to give general advice without knowing more about the situation someone is in. For example, maybe you are helping your family out because a family member is sick or your wife is pregnant and will have to look after the kids. There are many situations where even if we really want to it's going hard to save any additional money. The best approach here for me is to write down any expenses I have each month and try to find unnecessary items that I can reduce. It's a bit difficult to write even the smallest purchase during the middle of the day, but with an excel sheet on my phone I can make small entries all the time and put in a better order during the weekend. The other approach when we can't save money by reducing our expenses is to get additional income, like a part time job on the weekends or starting a new hobby that brings in some money like trading and investing. One good side hustle that helped me earn some money is to sell old things on eBay. I managed to clean out the basement for my parents, my grandmother and my own basement to find a lot of things that nobody is using anymore and that still have value. It's quite time consuming to take photos, put it online and pack&ship the things around. But once you accumulate some profits and start investing them, they will start to grow quickly.

I would prefer the latter though, and only if everyone's mindset will be different, we should all look for a side hustle or even a business if we have save enough money and take that big risk. And as we mature, we understand that working a regular 9-5 desk job is not the way to make our selves rich. We really need to be the boss and that we could only accomplished that if we become entrepreneur.

For saving money there's a lot of ways, but what we will do on those money that we have save? We can't just put in in banks and expects that it will earn passively. That's why business could be the way for us, or simply investing here, in crypto. But then again, we should really learn to diversify as well to really grow our portfolio and learn how we can make more money.

Rule number 1: Resist the urge to buy stuff!

Only buy things that are absolutely necessary, and also live below your means (because if you don't do that, then it means you're not saving anything for a rainy day).

No program, no routine, no book can help you do this better, it must come from within yourself.

Rule number 2: There is no rule number 2.

In regards to financial matters, strategy, strategy, strategy is everything. You have mastered the two most important methods for saving money: reducing expenditures and increasing income. In addition to Finance 101, this is about human nature. Although every individual is confronted with adversity, life does not always afford us breaks. Sick relatives and newborns present formidable obstacles, formidable challenges indeed

Keeping track of expenses? It functions and is a classic move. Which Excel document is on your phone? It potentially alters the course of events. It is about awareness and having authority. And if it is impossible to reduce oneself, one must pivot. You discover methods to increase your earnings. eBay? It is a goldmine for those who understand its application. Not only is it crucial to sell, but also to comprehend value and demand. It is labor, but it is worthwhile labor. Invest, actively participate, and observe the surge in profits that ensue. Then, then? Continue to invest heavily. Put that money to the same effort that you do

 It’s also important to splurge on yourself from time to time, give yourself that special treat too, buy that nice wrist watch or take that vacation you always wanted so bad. Splurging yourself doesn’t mean your spending money irresponsible but it gives  this sign of satisfaction and the feeling of wanting more. Having savings is important as well for without savings how do we intend to survive the rainy days. But in other to have a proper savings plan, you need to have a multiple streams of income to achieve that and even when you don’t have that streams of income coming yet, this is when scale of preference becomes important.
  In this life one just need to be wise with his dealing, know when to spend and when to stay quite. You can’t start  spending lavishly when you’re on a monthly salary that’s is below the average minimum wage that’s is unwise. We have people who don’t know how to manage money, they have no budget or savings plan and this is a problem if  not properly looked into. Saving money has a lot of benefits and advantages as we all know, especially when time of emergency comes one can know how to tackle them.

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

Every human will want to get even things they don't need immediately but will be useful in the future, so try to buy what you need at the moment and anything that you buy that is not in immediately use is as if you have wasted the money because such money would have been used to get the needful. Therefore avoiding wasteful spending is one way to be prudent.

Another way to save is to invest. This is magical in the way it works because when you don't only keep you money redundant but you make it work for more money then it means you are growing your savings rate to come from different angles. Investment increases your savings level because you generate money to be saved from different directions.

The biggest challenge for most people with saving money is firstly, having enough spare money (that isn't being wasted on frivolous items) left over from your salary and then getting in to the mindset that you do not need to spend all of your available spare money that sits in your bank account. Some people, at least when they're younger have the wrong mentality when it comes to money, but it's not really their fault as society will often condition you into this spending culture. It's like anything in life, having the discipline and willpower is often the hardest thing to achieve early on when you choose to follow a new method. The results don't always become apparently until months or even years later, so breaking that barrier can be hard.

Yes, and that's why it's very important to really save for the rainy days, as the saying goes. And from the books that I read, at least 6 months of buffer, but I don't think that anyone can save that big though if you are in a tight end. So for me, there should be no numbers, as long as you can save enough then that is good enough. Otherwise, if you target some numbers and missed them, then it could have a effect on you mentally. So just stick to what you can.

And I don't think their is like or code to crack, we've been taught to save and invest and that what we should do specially if we are still very young or just started your life like having your first job. So just put aside some money after the paycheck that you can afford. So it's going to be hard grind for you, but if you master it, then you have crack the code already. And then later on you might invest or have a business and then money is going to flow.

Very normal behavior of most people on which on  the time that we are seeing that we do still have money left in our pocket or bank then we would really be definitely be finding ways on spending it out even if it means on splurging it out on something useless things and on the time that emergency comes then this is the only time you would really be making out some realizations that savings is really that relevant or something that would really be important. You wont really be that able to make such thing until unfortunate things do happen. You would really be that needing to experience it first before you would be careful in next time.Tons of situations on which you might be able to save up but due to not focused into things just because you arent experiencing difficulties then it would really be just that normal that we would really be forgetting on things on what must be done.

There's no need to crack some code or critical thinking because you would really be just simply needing that common sense that you would really be needing some back up funds or savings
when emergency things do happen then you are prepared and not really ending up on having that getting some loan just because you dont have money.
This is the main problem that you would encounter if you dont have savings.

Money, savings, spending... it's all a cycle, isn't it? People, certainly, the vast majority of people, have cash in their pockets, and what do they do? They are constantly spending! And not always on the correct or essential matters. It is comparable to "Hey, I've got money, let's just throw it away on something shiny!" But then... An emergency occurs, and they scramble in an instant

Savings, savings, and more savings! Folks, this is not advanced science. It's just common sense, nothing but common sense. You must possess a cushion or safety net. You do not want to be that person, the one who is surprised, do you? False, you do not. You should always be well-prepared. Therefore, let's get serious, but not too seriously. Let's be smart about our money. Let's be extremely frugal. Because when the unexpected occurs, which it will, you will be prepared. You'll be more than ready

Part of saving money is setting a budget and separating everything. There will be times in your life where you have to spend some unnecessary money on friends and family. The best way to stick to your goals is to avoid such situations understanding these types of expenses will increase your savings. So control unnecessary expenses with frugal attitude saving is an important habit for many reasons as it helps you manage financial stress to cover future expenses and plan for vacations. Understanding the different qualities of savings can motivate you to save more. Can help keep you on track by avoiding unnecessary spending achieving financial goals and increasing your savings.

I have tried saving money many times and I failed. I am still struggling with it but recently I have come up with the plan that is working pretty well for me. You see, I have a girlfriend and whatever I earn I have a fixed amount of money that I put into an account that she has. Only I have access to that account so only I can withdraw or use that money. But that account could only be open with the help of my girlfriend. (I know many will say that she's not your wife yet so why would you give her the access? I have all the needed documents to recover that account at any time and that will not require her presence.) All that aside, I trust her and she keeps my money safe. I have told her to never let me use that money that I am using as a saving.
So she does exactly what I told her.

If you are a person who are unable to control their spending, then involve someone that can help you achieve that. Could be your family could be your loved ones or could be your friend. Whoever it is make sure they help you in this case. I know I can't do it alone so it's not a bad thing to take help from others.

It's actually not difficult to save some money for those who earn a reasonable amount of money every month because their expenses would generally be lower than how much they earn which allows them to actually have some money left at the end of the month unless they deliberately spend it all on things that aren't really necessary. Such people don't face problems with savings or their personal expenses and they can easily save some money for emergency situations.

However, when we talk about someone who barely earns a minimum wage, such a person would barely be able to save anything because they hardly manage to fulfill their monthly expenses with the money they earn. No matter how much they try to reduce their expenses, they won't have anything left at the end of the month.

Saving money is not a complex thing that needs cracking to get a code to save money.  It is not a space science after all.  What it needs is discipline and the attitude of being thrifty.  If one really wants to save money, he can always set aside some percentage of his income and start budgeting after he set aside the money for saving.  People are flexible, they can adjust their means of spending according to the available funds in hand.  So saving money is really easy if one only desires it.

Saving is indeed easy for those who have a fixed income and manage their monthly expenses well. If we can manage our expenses well then whatever income we have, it certainly won't be difficult for us to be able to save because we have managed well the needs we need and If we have a lot of income and we can't save, of course there is something wrong in managing the money we have, so it needs to be corrected to be able to manage the expenses we have so that we can save the money we have for emergency needs.

There are several tips I can give you...
1. You can record income & expenses. Why ? By recording income and expenses, we can more easily track our monthly finances. We can see what expenses exceed the target and it can be a reminder for us to spend money.
2. Pay attention to expenses that you think are small. Why ? It could be that if combined in one month, the amount spent on small items could be worth more than expensive items. Because usually we may not realize these small expenses and think they are easy, even though if we calculate them over a period of 1 month it could be the same as spending on one expensive item.
3. Don't shop for prestige. Why ? It would be better if we could use it to increase our savings and buy things we really need. Not because it's trendy, let alone because of prestige. We need to realize that developments in trends and prestige will never stop if we continue to follow them.
4. Make a priority list of needs. Starting from those that are very urgent to those that can still be postponed to be fulfilled. By creating a priority scale we can more easily manage expenses. Apart from that, we can also learn to be more frugal and organized.
5. Set future targets. One effective way to manage finances is to set targets for the future. For example, when you are 30 years old you want to have your own vehicle, when you are 35 years old you have your own house, and so on. By setting a target, it means we are ready to start and carry it out. Don't let the target just become a discourse. By having a target we are also required to be able to make a plan so that the target can be achieved.
6. Save. If you want the money in your savings to grow quickly, make a savings target and immediately set aside the money at the beginning of the month. If necessary, create your own savings account that is different from the account you usually use every day.
7. Try investing. Investing does have a lot of risks. However, from this big risk there is also the potential for big profits if done correctly. In order to invest well, we also have to learn and practice to be able to make the right strategy in investing. The first thing you can do is find out what type of investment is suitable. Next, look for as much information as possible about the investment you choose according to your financial situation. The important thing is not to interfere with other expenses.

I agree, saving is not too difficult if we are determined to do it. Saving means avoiding spending on unnecessary things, avoiding waste, and depending on our spending needs each month, we save flexibly and not too stereotypically, things will never be too hard. Only people who lack determination think that saving is a space science. But to have a better life, we need to focus on increasing our income and not just focus too much on saving, that will not help us get better.

What is known as temptation knows no place and time, especially when we are holding relatively large amounts of money and that's where our patience is tested and we often become careless and shop not in accordance with what was previously planned and often also what happens. needs are missed.
But here I don't quite understand what you are saying, namely about "unexpected bills that pop up" and how is it possible that we don't remember all the bills or installments that we have and do we forget to record them...? and perhaps this is where recording or bookkeeping is needed for all forms of personal expenses and income, as well as bills or installments that we have so that everything becomes more manageable and expenses become clearer.

In terms of saving, we don't need to save large amounts and all we have to do is be consistent and consistently save 10% of our income every week, so that you are ready to dedicate that amount of money. because it's useless if we save large amounts, but after only a few months of saving, you take back those savings because there is something you want to buy.

This is very interesting, I might have done the 7 things you said, but not long after that I made the mistake of not consistently applying these things in my life so that my financial management was messed up again, but all of that happened because I had a lot of dependents so I felt very sad. I have a lot of urgent needs that I have to take care of (actually this is a bit of an excuse to defend myself)

Honestly, I really like this discussion because there is a great desire to be able to save money because it is very important for the future, but for some reason, there are a lot of things in theory, but it is quite difficult to carry out.

Totally really hard to apply specially if you are just only the breadwinner on such family, or shall we say its even on extended family on which there are lots of responsibilities that you would really be needing to patch up on which there's no way that you could really be making yourself that in good situation yet you wont really be able to make savings or doesnt have the chance on doing so due to those expenses on which it would really be just that a normal approach. It is really just that there are really things in life on which giving out some advises would really be that easy or simply but actually it is really hard to be done due to some circumstances on which you cant really just easily leave out or neglect or getting ignored. You arent that blind on not to see on what are the imposed risks if you have just simply followed on what you do have in mind or for the sake of savings.

Family comes first and this is the most important thing in the world but there are really times or moments on which you would really be having those realizations that you should really be giving out
some priority for yourself and with your family and not putting up that much concern in other people but since we dont really have no choice then we do really
ending up on having plans but not really being materialized.

As long as we can manage our finances well and have a steady income from the work we do every month, things like this will not be too difficult, especially if the income is at the standard that is set to support our needs.

The problem in this case is that often we always expect something more so that we will continue to feel less when we get a fixed income every month which in the end this backfires on ourselves because we cannot save.
What I always feel is that when we have a fixed income every month and when it is above average then our lifestyle changes because indirectly we become someone who is hedonistic (although not all like this but on average it always happens) which makes no matter how much income we have sometimes always smaller than the expenses we do.

It is not easy to save money in a very harsh economic situation. However it is very possible that you can still save some money no matter how little which is. I tell people who care to listen that if they take stock of their expenses their things that they can cut down on and save money from them. Home made food my be cheaper than eating out. Therefore you can cut down on it and save money from eating out. At least when you cook your own food, you do not tip anyone. You can also brew your own coffee as opposed to buying from Starbucks. You could do a garage sale and sell off some old items that you no longer need that occupies space in your apartment. You could also try flipping stuff too. These are some ways get money to save that I have tried and they worked for me.

For me, it has always been putting some part of your money aside and consider that as not part of your salary. Lets say you are making 1200 dollars a month, saving 100 dollars of it aside, and consider yourself getting paid 1100 dollars a month is the way to go. In that situation, you would be able to say "I do not have anymore money to spend" whereas you actually do, that extra 100 dollars, but you have to consider that gone as well. Put that in bitcoin, keep doing that every month, you get 1200 dollars a year, sure it is not a lot but you just made one more salary, and with bitcoin rising time to time, you are making a good income. In ten years that's 12k dollars with even just 10x, and that's something bitcoin could easily do, that's 120k, and you could potentially buy 2 houses with it, sure maybe some debt, but you could do it.

Houses here go for about 80k to 100k, so if you get 120k, you could spend 60k on each of the houses, and have about maybe like 50k-60k debt left, and you could finance that for 20 years, and pay it easily. You just bought 2 houses in 10 years, see how easy it is? Just saved 100 dollars a month.

Of course it is very difficult, and also maybe a little impossible if we have to save money in the midst of a difficult economy in the sense that their income is far from enough, there is no other way but they look for other part-time jobs to increase their income and also to balance with their basic needs. It seems like you are making assumptions by looking at only one side of the equation, and I conclude that you are allocating this statement to those in the middle class. I think you should divide your assumptions evenly by providing a comprehensive solution. But it's okay if you only provide solutions for those in the middle class.

Basically we have to look from various sides about the difficulties experienced by the community of course also from some of the middle to lower classes, look at those whose income is far from enough, in my opinion they will not at all think of going to buy coffee to Starbucks and brewing coffee at home for one of the solutions to save, but what if the reality is that they absolutely cannot buy coffee to enjoy at home? And also what if they never eat out at restaurants but still their income is still not enough to make ends meet? for people who are really in a difficult position will not think about things like that and it is a matter of survival in difficult conditions. And I think the solution is quite even for them besides saving by not buying something that is not needed on the other hand they should also be able to utilize something they have, for example if they have a large enough yard behind the house then they can start to grow vegetables for later consumption themselves, and also in addition they also need to find some other additional jobs to increase income.

If they have been able to get through such conditions by applying all means to stay frugal and also to survive then next if their finances have improved a little by getting some part-time jobs for example then yes there they can at least allocate a little money to enjoy a delicious meal with a cup of Starbucks coffee. ;)

But in many cases investing is wasting. Especially investing in something that seemingly will provide you with high yield. I wouldn't encourage people to invest instead of just saving. Those billionaires you've mentioned in the beginning they usually lose millions on the wrong investments before finding something profitable. Regular people can't afford that.

Saving money is very difficult as it is for all people whenever you plan to save money, you have many important tasks that need money to complete. And if you want to save money for the future, you must keep your mind strong so that you can save the money. In this era it has become very difficult to raise money because all the fields require money which costs more than what is earned. A family has many needs and doesn't have enough money to save, but has to borrow more to meet those needs. That's why I think that if you want to save money, maybe you can save it in a bank or cryptocurrency, maybe in the future. I tried a lot to save money, but I couldn't, but it was spent on my various activities that's why I made my money into bitcoins for the future which will give me profit. That is why in order to eliminate this kind of problem one must keep the money in an active place from where you never transfer the money but keep it there and save it for future, but this cost of money will be reduced.

Yes that may be true, if we look at the many cases that occur about those who are wrong in terms of allocating money for investment then there will definitely be cases that occur or befall them, but I don't think it will always be like that, maybe this is just a matter of their lack of knowledge in the field and also of course following by not paying too much attention to the level of risk that can befall them. So maybe I think that's one of the reasons why they invest but in the end it's like a waste of time and money, and I would say maybe that's part of the process that they have to go through in the beginning, if they give up then yes I agree to the statement of wasting time and money, because they're already munder before the returns happen.

Honestly, I also wouldn't encourage anyone to invest or save, because yes I think it will come back to their belief and trust in terms of managing their money, if they want to get an increase in their money then yes they can invest but also by agreeing to the risks that are there, it will not always be profitable because obviously investment is always related to the level of risk. Losing millions of dollars? Yes I think it's one of the experiences of the rich that makes them even richer when they can get through such conditions, learning from mistakes is always the best thing, and maybe that's what successful billionaires apply.

If you already know how to budget, unnecessary spending will now be gone or will be minimized. I think unnecessary spending if done with our family is not wrong and I don't even think that it can be called as that because I'm sure this can make them to feel happy. It's better than if we do this in our friends.

Yeah, budgeting or saving prevents us to be stressed not only in terms of financial because most of our problem which cause us a stress starts with money or related to it. Planning for a vacation is I think still part of unnecessary spending but again if it's done with our family I think it's fine. I guess it's not bad to treat our selves and our love once even for rare occasions.

Whether you would really be taking up risks or not then its up to you and its true that taking up risks doesnt guarantee of success on which it would really be just that giving whether positive or negative.
If we do talk about saving money then it should really be that standard since we do know that there are situations in life on which we know that it cant be expected on which you would be needing up that kind of allocated funds when emergency do happen. This is why management of funds is really that crucial then you should really be that wise whether you should be going all in with investment or would really be having that split up on which i could say that this would be the wisest decision to be made.

There's no need on cracking codes or whatsoever which considering that saving is really that something in default. On doing that then you should not be that too careless on spending on things
because if you do then you would really be that falling short and the worst you would really be that experiencing unfortunate conditions which we dont really like
for it to happen into us. This is why better be mindful of the risks and outcomes later on and with this then you could reassess on whatever decisions that you might be making
and trying to look back if its worth or not.

 Spending on family should be considered a waste after all we are all striving and working hard just to make sure our family is okay, personally I am more of the family person, I can go any length to put a smile on their face, when I’m in the position to help and I can help, I won’t hesitate to help. What is the essence of saving if not for emergency and maybe a plan you’re yet to set in motion. Will you tell me if a member in your family is in need of help urgently and you’re in the position to help. Will you decline is request just because you’re saving and keeping to budget ? Unless you’re not the family type or you just  lack empathy and being inconsiderate.
 I think I cracked the code of saving money in my own way, my methods are simple, I have different accounts for different purpose, my spending account for my daily expenses, I also have a savings account which I rarely go to because I make sure I don’t go zero on my spending account. I also make sure money goes into the saving accounts on a daily basis no matter the amount that goes in it’s something. Another way is by having multiple streams of income, with multiple streams of income coming you will have more than enough to save. I prefer ti save in dollars instead rather than saving in bank, saving in dollars has a huge advantage than saving in bank.

I say you look into saving money first before going for your expenses. Especially if you're a middle-class income earner. If you're finding it hard to save money, cut the middleman and save money before it becomes hard by automatically allocating some of your salary and then working on what was left for your expenses. I've done this and it's not so hard on my spending habits either, I was even able to allocate some of my money to reinvest into crypto, so it's possible by all degrees if you're going to have the discipline to follow through with it.

Most banks nowadays have these autosave feature that automatically takes from your bank account a certain amount each month. Use that, use autopay as well for your bills so you pay them on time, and then, don't go on dates every month if you have a partner.

Although taking risks does not guarantee success, in my opinion this is one way to take steps forward, I admit that people who take risks are brave people. Because people like this have the courage to try with the risks they will face, however, we ourselves will determine all the choices and steps for the next time only we choose, suggestions and input from people are just a consideration. Everyone doesn't want problems that suddenly come, but who knows. By having savings, I think maybe it will be useful at times like this, so that when we are in a situation like this it is less likely that we will link other people because those of us who do not have savings can just borrow here and there.

I spend my money according to what I need not what I want, but most people spend their money on what they want even though the function and role of the items they buy are not that important. Before doing something that will produce even with the risk, I think I myself must have thought about it first because everyone knows that no one wants a loss, but of course with careful thought, there must be a risk. So I think it's natural that there are risks that we will face because basically everything must have its own risks.

Stay at home most often if you want to avoid expenses like eating on fancy restaurants, or shopping on malls. What you want to do today might not be the same thing tomorrow. That’s one way of saving. Also, live life within your means. Do not spend above your income, otherwise you’ll end up having a lot of debt. Lastly, learn to invest more than saving a lot. Your savings has rare chances to grow, but when you invest, your capital might be double or triple in time as long as you invest on those high potentials to succeed. Hence, you will be more capable to save if you have a sustainable investment on the side.

also needs to keep in mind though, investment doesn't necessarily always results in success, its essential to choose investment based on fundamental, the only investment thats safe are investment that gives really low yield or return, therefore investment like bank deposits and so on, don't expect to get rich from it but instead expect it to at least give additional capital growth on top of combating the curent inflation.
but whats more important is to increase income, can't expect to save because the salary increase right now aren't really on par with the inflation increase therefore the disparity between the price of the goods and our purchasing power will get more bigger and bigger, thats just how bad it is the current condition for people with low income, its just increasing income is the only way.

I agree. Don't be complacent for what you currently earn especially if you know that it's just enough for the monthly expenses. Looking for opportunity to have another source to earn money is always wise, this is to increase the earnings and to be able to save money. Anyway, I don't consider bank deposit as an investment since the annual interest is too low and not worth it (at least for me).

Hence, I better look for other opportunities to invest. Of course it's not going to be easy and there are times you'll fail, but keep trying and stick to an investment where you have knowledge about and not just you're taking risk without knowing what you're getting into. Nevertheless, always have self-discipline to control how you spend your money.

By having an income that can only cover a month's needs, of course we have to look for additional income to be able to save because if we have an income that is only enough for a month's needs and don't have savings for emergency needs, it will certainly be very difficult for us if we get unexpected needs, of course we have to take on debt to meet these needs.
If we choose to invest, of course we have to do it consistently and also use strategies in the investments we make to gain profits. Yes, you are right, we have to keep control of our expenses so we don't use them for things that are not important.

Logically we can only save when all our living needs have been met, so there are several steps we must take first to be able to achieve our desired goal, namely being able to save.
Regarding earning extra money because the main income is only able to meet life's needs, we will have additional tasks and we have to do that because it is impossible to live by just watching without making any progress.
Do extra work to have more income, then apply strategies in life to be able to save or invest, those are different plans in my opinion, the most important thing is that we have to have more money first to be able to do all these things.

Any person who has a family basically works and earns money so that they can provide for them and make them happy and to make them happy one needs money, for sure. So planning vacations, celebrating special days, and occasionally going out, are all important things that are supposed to be done and you can't skip these things just so that you can save some money, you need to skip things that are extra and that aren't necessary in order to get to have some money left at the end of the month.

That's why, one should never compromise on important things and things that make them and their families happy and they should think of other ways that they can use to save money. If they think they can't do it with a single job, they should try and start doing some side job or something that can earn them something extra.

By savings first and spending from interest earned from your savings, I read this somewhere on the Internet and it's stuck with me ever since,  I find it true from my personal experience as well. Interest might not be enough but what one could do is increase savings further and further until interest is good enough to sustain oneself.

Because of this, in today's unstable market, making sure there is a steady flow of income to meet these needs is very important. The idea that you should never give up on things that are important for family happiness while also pushing for side jobs to make extra money highlights a common social problem

But this conversation walks a fine line between being responsible with money and working too hard. For smart financial planning, you need to carefully look at both your income and your expenses. If you want to be financially stable in the long term, you need to carefully look over what you consider to be "important things" and find and cut back on unnecessary costs. The search for happiness shouldn't lead to spending too much money

It is also a better solution if someone is able to increase the interest to use it in life, because this can also influence the savings side to become bigger and swell. However, trying to increase interest more in life through savings is also not an easy matter now, considering that currently it is still difficult for some people to increase savings. So it will also make them experience difficulties in increasing the interest to be bigger for them to use in their own lives, even though this is a pretty good solution to do for those who can afford it.

I saw this tip on how to save money on social media. It says that if you receive your salary before anything else or before distributing your expenses and such, the first thing you will do is allocate an amount to your savings, and after that, you can distribute it to other things, such as bills or other things you will spend. or you can spend quite an amount in investment, of course, with sure profit, like trading. That's what I do; the profit I earn from trading will go straight to my savings; if not, then in another section of my budget. In short, you can't save much from your salary, so find another side hustle that will add up a profit and also add up your savings. Don't settle for less; keep on striving and finding a way to have a better life and bigger savings. That's what I learned.

Of course it can't be always like that. We can talk only about probabilities. How probable is that your investment will fail? That's what everyone should think about before investing in anything. If you just think, "everyone fails with that but I will not", that's hardly a good way of thinking.

Saving money in your local currency, especially if you live in a troubled country, is very risky. I'd say, maybe it's riskier than investing in an established business. But saving in USD is probably more safe than anything else. USD can lose it's purchasing power with time, sure, but not to such an extent that it would be a disaster.

What about those who don't earn a lot? Someone with a limited salary cannot separate a specific percentage from it for savings and then spend the rest on other things because the rest might not be enough. If you earn $1,000 a month and have expenses that covers almost the whole amount or even higher sometimes, you can't have much savings or any savings in that case.

Exactly, it is not always possible for everyone to be able to save money from the salary you get, that's why it becomes necessary to find an extra source of income, something that will earn you some money that you can use either for your savings or add it up to your budget and take a percentage out from the total for your savings.

The first step for people thinking about saving is to get out of debt, because that's the starting point for so many people. Holding debt while trying to save can often leave you worse off, if you're paying 20% per year on a credit card balance but have a small amount of "savings" earning 5% then you should direct all those funds to bringing down the balance first, otherwise you've just got the illusion of savings that is costing you more. You should target your most expensive debt first and clear that, but possibly consolidate where you can. Increasing your earnings is one way to boost your spending, but you should also occasionally re-evaluate how you are spending money too and cut back on excess until debt is paid off.

Some people earn even less than that, and it's extremely hard for them to save something. You know what, I was one of those people during some period of time, for years actually. And I can tell this much: if you earn so little,  you never give saving a thought even. You just live. You are happy you can buy a loaf of bread, and if you can "save" to buy a bus ticket to not be walking for two hours to your home, you are super happy.

Surely we cannot generalize all the abilities that each person has. I also often hear people say that they don't want to start saving and have savings, but circumstances force them to and they can't do it. Before thinking about this, I think we must first take steps where our financial situation is stable or at least we must have a decent income first, whether it's finding a better job or building a business.
I was once in a situation where even being able to eat was a joy, because the situation was very difficult at the time. But when I had a decent and stable income, I was able to start thinking about saving money or even like now, getting into the investment space.

$1000 is a crazy example of course i know the cost of living is different for each country but if you’re earning $1000/month in my country you’re definitely well off or at least comfortable enough and unless you have children you’re probably not gonna be able to spend all that and not save a little bit

18% of the people in my country live as low income and gets not even half of $1000 usd  if you’re struggling to save with a salary of $1000 imagine how hard it is to save for those with less than that

In my country, there's something they call a p2p contribution. It is normally organized by just common people, so they can decide to get more people who are very interested and capable of holding the contribution until it is concluded.

In this kind of p2p contribution I am talking about, if they have like 100 people that have agreed to work together for one goal, they will all agree on the amount that each person can contribute each day.

Let's say there are 100 people, and they have decided to contribute $5 each every day. They will then choose a Treasurer that will be in charge of the fund. So, the process is that after everyone has contributed for the first day, the treasurer will give the $500 to one of the contributors. The next day too, another contributor will take the whole money ($500) after they've all contributed. The trend continues from the first person until the last 100th person. If it's a p2p contribution of 100 people, that means it's going to last for 100 days (about 3 months and a week).

So, if each person is contributing $5 x 100 people, that's $500 that one of the contributors will take each day and the next day another will take.

The reason why they do this P2P contribution is to help those who cannot gradually save up money to be able to have a lump sum of $500 at once, and the person can possibly use the money to start a business or an investment that will be profitable.

OP and anyone who is reading this post, if you did understand what I explained, that's one way to save a small amount of money each day, and when it's your turn to take it, you will have all the money in a lump sum.

   Saving your money is a good step towards managing money wisely. But that's only the first step. Before we dive deep into it, let's first look at how you should not save money. If you're saving money in the form of cash, it's not a wise decision. When you save money in cash for a long period of time, you're ensuring that you get less money than you saved. Confused? Let me explain. When you save money in cash for a long period of time, the amount remains the same but the market is constantly evolving so due to inflation the true value of your money decreases.
  A financially literate person would never make save their money in the form of cash. Now you must be thinking, “so what would be the best way to save money?” The answer to this question depends on you. You have various choices and every choice comes with its risks and rewards. You know your situation better than anyone else so, you would understand which option is best suited for you. You can keep your savings in a bank or better still invest with it that way you'll get some interest on your money and you'll be able to access your money whenever you want.

People who can save money and use it well are very lucky. Not everyone has the opportunity to save. Some people cannot even think about saving because they do not have the income to save. Often people with low incomes choose to save when their income increases because they realize the importance of saving because they couldn't do it before.

Sometimes life gives us the chance to learn things. In such cases, we need to improve ourselves and take advantage of the opportunities that arise. Saving is something that every person should do if they can.

Totally understand the P2P Contribution method you are referring to.
In my country it is called "ARISAN", we will save money within a certain time, it can be every day, every week or even every month with an agreed amount.
But this will go through a drawing process so that it will be selected who is entitled to receive the money in the first, second, third session and so on.

This will run for a period of time that has been determined at the beginning, even if it is done every week it will last for years depending on how many members participate.

My wife is even participating in it right now and it's been running for about a couple of months with weekly payments.

https://www.talkimg.com/images/2023/11/13/zQ5K9.png (https://www.talkimg.com/image/zQ5K9)

list of tips(some mentioned in topic by others)
1. before anything have 2 accounts. one to receive pay and one which has best interest rates you can find. actually use some time finding best account
2. before spending any income. allocate a sum you want to save. and set up an auto-payment on pay-day to go to the best interest account

to work out an acceptable amount to save, do this
3. open a spreadsheet and write down every bill/expense.
4. work out(from 3) whats a NEED and what is a WANT
5. look at if there is any way to cut down the costs of needs and then what wants you can do without
6. when thinking about wants(from5) think about what is a "5 minute smile" and what is a "5 year memory"
7. only concentrate on keeping some of the wants that keep you happy,solve a problem, serve a promise longer than a "5 minute smile"

alot of people can make coffee at home for $0.50 but want the "5 minute happy" of buying a $5 starbucks
alot of people then do not realise that $5 a day, is $25 during working business days. which is.. wait for it $260 a year

alot of people can make food at home for $2.00 but want the "5 minute happy" of buying a $20 fast food delivery
alot of people then do not realise that $20 a day, is $140 during full week. which is.. wait for it $7280 a year

spending $2.50 on food and coffee a day instead of $22 a day can save you $7520 a year
$22 a day on things that become a toilet flush 6 hours later. turn into $669 a month of toilet flushes
$22 a day($669) was just  2 hours, 30minutes per month of happy moments. (30x5minute "happies")

ask yourself, is that $669 a month example really worth under 3 hours of temporary non lasting moments

if you could put $7520 a year($669 a month) into a 5% savings account
year    deposited   bank balance  interest%   interest$
1   $7,520.00      $7,520.00         5           $376.00
2   $7,520.00      $15,416.00       5           $770.80
3   $7,520.00      $23,706.80       5           $1,185.34
4   $7,520.00      $32,412.14       5           $1,620.61
5   $7,520.00      $41,552.75       5           $2,077.64
6   $7,520.00      $51,150.38       5           $2,557.52
7   $7,520.00      $61,227.90       5           $3,061.40
8   $7,520.00      $71,809.30       5           $3,590.46
9   $7,520.00      $82,919.76       5           $4,145.99
10  $7,520.00      $94,585.75       5           $4,729.29

i know my examples above are economics of UK/US style of living. so everyone else can do their own math and see their own numbers and work things out in their own native currency/cost of living ratios

actually get out a spreadsheet and work it out. it will put the numbers into a reality you can think about properly if you can see it in your face

and thats just an example for changing your coffee/fastfood habit.
now look again at your needs costs. and see if you can save.
EG downsize house.
EG re-arrange rent/mortgage for better rate
EG find better deals for utilities
EG see if you are wasting water/energy in the home to reduce bills

then look how much that saving can accumulate

once you see how much you can accumulate it will energise you more to stick to the plan
dont give up things that make you happy. just think about how much is acceptable happiness. dont think of keeping the 5 minute happies, its not worth it. its better to save up and truly enjoy the "happies" that form long term great memories

EG giving up cafe served coffee/fast food for 6 months means you can go on an all inclusive vacation of many happy memories
remember coffee/fast food just becomes a toilet flush 6 hours after buying it. and the bathroom wont remember it the next day

more tips:
8. look into ways of increasing your income
EG over time/extra hours
EG second job/side hustle
EG promotion via skilling up
EG change job to better paid job with different company
EG just asking for a pay rise due to inflation, your work effort/loyalty to business, lack of sickness, late of lateness, productivity

Good for you! Be careful with your investments, though. Sometimes a bit of saving is enough to feel secure financially and enjoy your life. Will you be able to enjoy your life having invested a big amount in something is a big question. After all, for what do we need money if not for enjoying our life?


That's right, if they can. If you feel that after saving you will have less money to spend on food than you need, than you can't save.

Although it may seem difficult, saving money is achievable with the right plan. Assume you are receiving $1k every month from your employment.is just to plan for it. As soon as you receive your money, the first thing you should do if you receive the money is to remove amount you are capable of saving and transfer it into your savings account. You will then be left with balance still set away little amount for emergencies is a smart idea.The distinction between needs and wants must now be understood. Consumables such as food are necessities. wants are something you'd want to have but can live without. Reducing wants is crucial for financial conservation. Prior to spending the emergency you set aside for emergencies, even in case of an emergency, make sure it's totally essential.

Being well prepared is essential to tackling life's especially in term of having savings.someone ability to save money will increase if you make thoughtful plans and decisions about what you truly need. In light of this, always remember to budget, set aside funds for emergencies and savings, and carefully consider what you actually need. In this manner, managing your money sensibly will come naturally to you!

Saving money in cash is not a wise long-term financial strategy due to the effects of inflation. Inflation is the gradual erosion of the purchasing power of money, meaning that the same amount of money can buy less goods and services over time. As inflation increases, the purchasing power of cash decreases, and the value of your savings erodes.

It is important to remember that there is no guarantee of investment returns. However, by investing your money in a diversified portfolio of assets, you can increase your chances of beating inflation and achieving your long-term financial goals. While investments carry inherent risks, diversifying your portfolio across various asset classes can help mitigate these risks and increase your chances of outpacing inflation and achieving long-term financial objectives.

Yes, because inflation eats away at money, depending only on cash savings is like standing still financially. As you wisely say, diversification is the best way to go about things. In this situation, Bitcoin stands out as an interesting addition to a diverse portfolio. Bitcoin is a risky way to invest in digital assets that might protect you from inflation. Because it's decentralized, it's not directly affected by the fiscal policies of any one country, which is a big plus.

Putting money into Bitcoin should be seen as a long-term. The trip could be rough, but the end goal could be worth it. As with any investment, you should be very careful and do a lot of study. Bitcoin's past success doesn't necessarily mean what will happen in the future, but it does point to a lot of growth potential. Adding Bitcoin to your diverse portfolio does more than just spread your risk; it's also an investment in the future of money and investments. Remember that the important thing is not to put all your eggs in one basket, but to have a basket that's ready for the future. Bitcoin is becoming more and more a part of that future-ready basket.

Saving money is very important, even though we have a lot of income, we can save and also invest, because there are still some people who have a small income and only enough for their daily needs and they cannot save some of the income they have, it is important for We need to be able to manage our expenses well so we can have savings, because if we don't have savings then we will have difficulty when we need funds that we can't foresee, of course we need to look for a loan to be able to meet these needs.

It always depends in the state of a person's life, not everyone has a capability to save while having investments because As a person who's living pay check to pay check. their generated income is enough for them to sustain their daily and monthly necessities. If you're a person who's having a good and comfortable life, it is applicable for you to have savings and investment at the same time without worrying about where you'll get the money you're going to use on them. I advice to everyone that even if you're experiencing difficulties in your finances, try your best to consistently save money even for a small amount.

One of the effective ways to save up money is to have control and discipline its useless if you want to earn money but you are one of the impulsive buyer that once you see is you want to immediately bought that thing and also one of the major factor is the lifestyle inflation this is one of the top reason why people cant save money because they have now a large amount of money and of course their lifestyle increase too they keep spending a lot of money buying foods, clothes and other wants because they can now "afford" unlike before and they keep thinking that with that large amount of money they can earn again or get paid again. Still ideal to use the system of 50-30-20 or even the 60-20-20 it depends on you how you manage. Its better to save than nothing not all things were in favor in ours there's a time that we will experience the life of chaos.

During student years, few people could save anything, but when work appears, then everything changes. Sometimes we need to go through difficult times in order to appreciate what we have now, more. I tried to save some part of my profit whenever I had such an opportunity, it became some kind of habit for me. In fact, I think that this became some kind of trigger for me, like a desire to exclude something like this in the future.

Your comprehensive list of suggestions offers a sensible and systematic strategy to conserving money, emphasizing the significance of differentiating between requirements and wants. The daily coffee and fast food spending eloquently demonstrate the potential long-term consequences of tiny, consistent expenditures. It is critical to cultivate a mindset of careful spending and discriminating between needs and wants. Reevaluating your budget and financial objectives on a regular basis ensures that your savings strategy stays flexible and aligned with your changing priorities.

Being impulsive would really be leading you nowhere because in the end of the day you would really be that spending up tons on something which is useless and there's no way that you cant really be able
to save up. This is why it would really be pointless on trying to be one if you cant really be able to control that spending urge knowing that each person does have their own level when it comes to spending.If you are that someone whose really that minding about future or something that do talks about on things that might happen ahead then you would really be that basically be trying out to prepare on what are the things that you  are dealing with. You wont really be finding yourself to be that impulsive spender.

Cracking up the code? There's no need of cracking if you are really just that sensible on what you are trying to do. If you do want to save then mean it, then
do those things which is according into your plan.  Its hard but its not impossible!

In my opinion, saving is very necessary is life if someone wants to enjoy his life and he want to be safe for future. Any disaster can happen at any time,no one knows the future and future can be worse than today better than today. But one should remain  his feet in his cloak . Because there are many people who are very poor than us and there are also many people who are very richer than us. One should see a person who is low than us ,we need only two time food to stay alive in life. One can save his money by select a fixed amount for future. It depends on one's income. If someone is job holder ,he should  separate 25 percent of his income. This money will help him in worst time.

You would really be only seeing the relevance of savings on the time that you are on a tough situation but if you arent that experiencing any difficulties then it would really be your least priority on which
its never been that recommendable on doing so. Not in our entire life we wont really be experiencing some emergencies knowing that certain  situations do really happen unexpectedly
specially for emergencies on which it is really needing up that huge amount and it is really that indeed normal that we might be able to fell short with the money that we do have.
This is the time that you would really be trying to see if you have something money left on your bank account or on your own pocket but if you dont see one then this is where you would really be
having those regrets and murmuring that you should have made out some savings.
Life situations do really make out those life lessons on which we might not that all experience this but probabilities are high.So never ever make yourself
neglect out on making some savings because one day it would really be helpful on your part not only on emergencies but also in
investment opportunities too.

   Saving is good as it helps in times when there's nowhere else to turn back to for finance or in times where unforseen circumstances arise. It's very much essential to make saving a part of our financial plans. Although some may find it difficult to start it due to their income level and it'll cause them to many times be stranded financially. They have to look for measures possible to broaden their income and acquire more wealth so they'll have the leisure to make savings.
   Now it's one thing to have money, it's one thing to save and it's one thing to keep up with saving. The decision to save means giving up a lot of comfortable living and sacrificing our satisfaction. Every proper financial oriented person will see saving as very much important and they'll be propelled to ensuring that they see through the period of saving diligently. We need to task ourselves to ensuring that we avoid every form of craving and satisfactory lifestyle that may come in our imagination to cause us to deviate from our saving goals. Set good and attainable financial goals, make proper budgets and first on the budget should always be the savings quota before every other expense. Rainy days will definitely come and we'd be so glad when our savings help us in those times.

other tips are,,
when there is no sudden surprise bill.... PRETEND there is. and put money into an account as if you are paying a surprise bill/debt

then when an emergency comes. dont use a credit card. instead pretend the emergency savings is your credit card. where you got to pay it back +5% extra
every time you take from the account you have to return funds to the account +5%

It is important for everyone to have good financial planning, because if someone does not have good financial planning of course they will spend the income they have and not take the time to save and for those who have little income of course they never think about being able to save because of their income. what they have can only suffice their needs.

Avoiding desires for ourselves in order to have savings, I think this is the right decision because by having savings we will be able to reach the stage of financial freedom. If indeed we cannot have savings because we have little income, it would be better for us to look for additional sources of income so that can have income to save.

Yes. It's very interesting what you discussed above and this is a very common occurrence, but I also think it would be very wonderful if we had more money and we could enjoy these five items, but with limited income we inevitably have to do them as you wrote one by one. Yes. good advice from you.

The most basic skill for now is manual labor. but is not a member but is the head craftsman. If we are skilled and the results of our work are always good, then lots of orders will come because the need for housing is increasingly high at the moment. You don't always have to be a government or private employee, of course.

To be able to save the money we have, we must try not to get involved in wasteful purchases, now we live in a more instant way and many people prefer to buy things that are ready, which forces people to spend much more money than they processed it themselves. Saving is impossible done when our source of income is unstable because money is no longer valuable nowadays and if we don't have a job that can bring in money regularly it will be very difficult to save.

If I am faced with this problem, saving is not my main choice, but will try to use the money I have in more productive ways. When your ability to make money is good enough, then allocate a percentage of your income for savings because if your income is unstable, saving is an activity that is difficult to do.

Live frugally mate.

Even if you've got a lot of money ready to be spent. Don't be too hasty with that and always think of the needs instead of your wants. Because when you follow your desires to buy those wants of yours, you're going to spend carelessly.

And if you're going to think of saving, just save it. If you have a salary, get some portion first to save like 5%-10% and less it first before the expenses.

Yes, that's actually a good advice. I would also suggest when there is a surprise win in your gambling, pretend there was no win and save the money for possible future needs. You can't do it always, for obvious reasons, but sometimes it can help you saving some money although it looks like you never have enough to save. And I agree with the other part too. After all 5% is never that significant, but after some time it can grow to a significant amount.

I think that is very wise because even though we already have a fixed income or monthly salary and we also have side activities that help, what is called a need, if it is important and urgent, cannot be avoided even though our previous intention was to include it in the investment discourse that we planned previously. , at least 5%-10% every month as you said. Yes. in accordance with definite propriety and rationality.

other advice is
look at the last 10 years of your purchases and financial mistakes and write a letter to yourself titled:
"to my 10 year younger self, please dont do..." [fill in the blank]

then put it on a table and go have a cup of coffee..
come back to the table and pretend you just noticed you received a letter from the future. and take its advice going forward.. in short dont repeat mistakes or your future self in 10 years will have twice as many regrets and no progress made in 20 years

how to prepare:
take a month to gather all your spending for a month.(keep receipts, look at bank statements) and actually write it all out in categories on a spreadsheet. actually visualise your spending habits.
then colour code what was a NEED(rents/mortgages/bills/essential groceries) and what were WANTS

look at the totals of needs and totals of wants. then do something about them, make decisions about what to do going forward. what is important to you. what makes you truly long lasting happy vs 5 minutes of temporary release

things like. if you have a drawer full of underwear. its not a need until you only have 7 pairs left and one is about to get nasty/ripped. .. buying the latest big brand of underwear simply because you seen the brand on TV is not a need its a want

dont go without underwear or a hobby or entertainment. but make a proper educated decision about your need vs want

then start to realise you can build up a surplus of unspent money which you can then save

There are certain basics to be considered that one can be able to save some money and there are also basics one considers the o spend.
So everyone sees every reasons to spend but not everyone who sees reasons save.

Some would say... Let me earn and spend it because life is inevitable while some would say.... Let's enjoy life for it is not dual.
Some of them basically spends their earnings with the believe and plans for more earnings chances are ahead and they could recklessly spend with the failure of reliable and stable planning til they could run a bankrupt.
The above means of spending is majorly pleasury expenditures.
Every earners are spenders but not all spenders are earners while
Some persons are dependants to families, friends and relatives who doesn't work or trade to earn and these sets of person basically doesn't understand the factors surrounded with making an earn so they just spends woefully over unproductive and unnecessary pleasures.

Talks about how to save whether an employee, an investor or a dependant.
Firstly is the adherence and concurance that tomorrow is uncertain that may not be as usual of income or earning flows.
So you basically have a calculative logic on how to spend and if you feel you don't have value to be tolerated then just forget about fun and pleasures and go forth earnings and saving.
Think about taking responsibility to yourself welfare and of course families welfare. This would keep your spending nature responsibly with the cautiousness of avoiding bankrupt.
Also considering your net worth so you could analyse and figure necessary and essential factors that is worth spending on. Maintaining a responsible spending with no disregarding your analytical spending manners and must avoid sceneros that opts spending beyond your expectations such as pleasury indulgences that is termed to either enticingly make expenses on you lost of control to spending such sceneros likely to be friends and the outdoors.

Is saving money really the best or to reinvest money saved?

For me I think the latter should be more viable because if you have the habit of just going with the former by only keeping your money in the bank or your personal savings box in your house, it will only get devalued by the rate of inflation as we know the past 5 years preceding COVID-19 have witnessed high rate of inflation globally.

To reinvest the money in a profitable business is surely a good plan for the ever growing needs and by extension wants that human encounter. If you set aside 90% of savings to reinvest and keep 10% in your fiat form either in the bank or personal savings box then you are surely taking a good futuristic plan to increase your income.

Saving is not something that puts us in a difficult situation. There are always unexpected expenses that come when we least expect them. These expenses can include things like car repairs, medical expenses, or other emergency expenses. It causes pressure and we cannot ignore them when they arise.

In addition, saving also depends on how much money you earn. If you earn a reasonable amount of money to save, you should always set aside a budget for miscellaneous expenses. These expenses will always come and they will always be hard to ignore.

best advice.
as soon as you get paid set aside 5%-15%
have it as easy access funds INITIALLY to save for TRUE emergency (where people are tempted to get into debt/sell investments at loss to cover a temporary event). save it in easy access SEPARATE account to avoid that debt temptation
when you have enough to cover a months expenses or several smaller surprise bills.. then put the set aside into a long term investment that you cant/wont touch short term to let the interest/investment profit accrue over time

dont throw everything into a long term hold/lock straight away if you dont have a budget for temporary surprises.
by having enough for temporary surprises you wont be tempted to use credit card debt. nor would you sell investments at the wrong time(dip) when a surprise occurs

In my opinion, by having savings, we will be able to easily meet needs that we cannot foresee, because it will be very difficult for us if we need funds that we did not expect and we do not have savings to be able to meet these needs, of course it will be very difficult for us. so we have to look for loans to be able to meet our own needs.

If we don't have enough income then it will be very impossible for us to have savings, because the income we get can only meet the needs we need and if we want to have savings then we have to be able to look for other sources of income to be able to have savings so we don't makes things difficult for us when we have unexpected needs.

Everyone must have experienced pressure like that in their life so that because of unexpected things like that it makes almost everyone save even though not everyone will like saving money. Because saving can be done in various ways as long as what we save is an asset that has value and price so we can easily cash it out at any time. Moreover, saving money can only save you from difficulties for a moment, because the value of money never increases like the value of other assets that are often used by investors as their investment tools.

If you look at the current conditions or conditions this year as a whole, I think almost everyone has to save in their lives, whether by setting aside money from their work or in other ways that are considered effective enough to save their lives from difficulties. Because every one of us has experienced failure at work, which has made us experience difficulties and this must be overcome so that we can recover from this failure with the amount of savings that we already have or that we have previously saved.

alot of people go years without any savings at all. alot of other people think they need to have 12 months of expenses but saved up in 3 months..
you dont need to go without or avoid or rush to experience both extremes

you can have small amounts over a time to accrue enough to cover expenses reasonable expenses.

even switching out a couple brands of groceries can save more then a couple £$ a week, add in having one or two less luxuries here and there you can save a small amount every month for a year, and next year able to tell yourself you have enough savings to cover a month or two of expenses

even small steps are still steps moving forward

too many have nothing now for many years, but also want everything now without putting in the effort for a year.. take the middle ground take upto a year to build up savings to then not have to get into monthly debt.. then take bigger steps to secure the future(training, promotions, payrises, better job)

My savings tips: I divide my money into other accounts so I have 2 accounts, one account, money goes in and out every day, the second is a savings account that can't be disturbed, so if I get paid on the 5th, I will transfer my money to a savings account with the remaining money. in the first account, it is for my daily needs. If the money runs out before I get paid, I will not take the money from my savings account. The point is that we have to be consistent in saving, there are many obstacles and trials, remember to be consistent.

It all depends on the kind of country you live in and how the economy is doing. However, regardless of how things are going for you as a worker receiving a salary or for anyone else with money, you have to spend more than you make. For some families, saving money has become difficult because the money they have is constantly going towards what they will eat. The majority of wage earners today are in debt because they never get paid; even after they do, they still have debt that they must pay off.

However, I will make sure to save money no matter how difficult it is for me because I never know what the future holds. After all, who knows what obstacles married people may face? Saving money is crucial for everyone, but it's especially crucial for those who are married because they will likely face difficulties related to raising a family.

I think what we should ask ourselves first is “how disciplined am I?” Because this is what determines what you will do when you start saving. There are people who would never ever spend their savings because they have a mission and they won’t let their hunger for anything get in the way. That mindset is what you need to learn to have. Along with that, you need to learn different saving techniques/strategies. Also, avoid both credit/debit cards because they make payment easy, which means they equally make spending of money easy. Lastly, it doesn’t matter if you’re saving one cent a day, the consistency is one of the magic workers.

In my opinion increasing income is more viable way than saving money, when you want to save up money that it doesn't matter you might went into hunger spree for few days, thats will be problematic because then you are giving yourself a burden of having disease that might empty your wallet in the future like GERD for example, saving normally while not being in hunger is the more ideal way, even more ideal if increasing income by striving for higher position in your job if you have a career for example then you wouldn't even sweat about saving since you will have so much money left if your living style doesn't change.
I guess like the saying offensive is the best form of defend, increasing income is the best form of saving money I guess but thats just my 2 cents.

i think people should follow the principle of being an "a-rs-eh-o-le"

Audit your income/expense
Reduce Spending on frivolous stuff/Revenue Stimulate more income
Emergency Holdings of 1-3month of needed bills total
Optimise further
Leverage Equity

basically its:
1. get all bank statements, receipts, proof of spending for the last month or so and write it all out in a spreadsheet alongside you income and deductions (like pensions and tax). actually show yourself visually the state of your income vs expenses

2. find out what you are wasting money on, and reduce spending on things you dont need, that dont last, look for ways to stimulate/increase more revenue/income

3.with the savings from reduce spending. start holding a 1-3month of emergency funds to prevent you using credit cards/getting in debt if surprise events/costs/bills pop up.

4. after saving enough for emergencies optimise the monthly excess in the best investments you can find

5. work out your debt:equity and calculate if its better to drawdown on debt by investing less to then have more excess monthly cash to invest more later. or if the interest on savings/investments is higher then debt interest charge. pay down less debts and invest more. look for other ways to moetise your equity to increase savings/investments

Ive done the same and it does works and you do really have the money on the time that emergency comes and it was really that made for that sole purpose. So it would really be that something that needing
that extreme dedication and really have that self control when it comes to savings since not all would really be having that kind of discipline in towards savings and this is why they do really end up on
having no savings just because they are really that confident that there's nothing that would happen something like problems or emergencies in the future. This is why this kind of confidence would really be leading into disaster on the time that you would be able to experience this.

There's no need for any technique or code because having getting some allocation like 10% per salary or pay which are really that saved up for emergency or savings purposes.
If you do fail on doing so then it would really be that a disaster. We do know that life cant really be perfect on which there would really be times
that you would really be needing that financial back up.

Definitely everyone wants to increase their income. Right? But let me ask; what do you do while still looking for a way to increase your income? Wouldn’t you save or would you spend carelessly? And btw, someone who doesn’t have discipline wouldn’t still save even though they are earning a lot of money. So, while you’re trying to increase your income, you still need to save. Even when you have that dream job, you’ll have bigger wishes that’ll require you to save.

to put aside $10k a year
is /365 = $27.40 a day(7day week) $38 a day(5day week)

if someone can find a part time job for 3 hours for $10-15/h. or do some over time you can more then afford to save $10k a year
if you waste $28 a day on fast food, retail sold coffee, frivolous spending each day. stop. you can more then afford to save $10k a year

working just 40 hours a week for 52 weeks = 2080hours. means you need to ask for $5 an hour pay rise to get $10k a year saved
asking for $5/hr payrise is sometimes harder to convince your boss, compared to getting overtime/side hustle or save on frivolous things


find a combination to try to find $28 a day(every weekday) $38(5days a week)
it can be saving $19 on frivolous and earning $19 doing a couple extra hours work
maybe a second job or a side hustle like food delivery

That is very true. People who don't run their own households don't know that a lot can be saved with switching out groceries' brands. And that doesn't necessarily imply switching to worse food, by the way. Sometimes cheaper food is healthier and more delicious than what you're used to buying in expensive shops just because you didn't have time for looking for better options.

Yes it is obvious, people will only know about anything when they have experienced it, as you said in the household problem, when someone who has not entered the household phase then obviously they will not know how to manage very well especially in terms of finance and make savings, at first glance in terms of food it doesn't seem to be too much of a problem and we usually don't emphasize too much in terms of choosing whether it's from the type of food or from the matter of price per food that we will buy, for example, we usually always put a budget of $200 for the cost of basic food needs but by doing research first we can actually still save and lower that cost to be lower but still with food products that are not much different in terms of efficacy and health.

Honestly, I prefer shopping at the market rather than going to the mall because obviously like the discussion you said above, by going to the market I can save more budget for my monthly shopping because the market price with the price in some stores or like in the mall is very much different but on the other hand it does not reduce the quality of the product. So the point is there are still several ways that we can do to be able to save more money in any case as long as we want to do it.

alot of people see their paycheque and think "wow i got X.y thousand this month".. they then spend without planning. and halfway through the month when their card gets declined at the shop. they wonder where their money went

the code to saving is simple
audit yourself. look at the last 3 months of spending and actually note every amount. categorise it
work out your fixed bills. taxes and rent/mortgage
and have the main income account with that amount ready to pay bills on due date(s)

many people surprising think nothing about having 6 credit cards and doing 6x balance transfers a month. but dont think about having 6 debit cards

so after organising your bills, then with the excess after bills have 5 other accounts (total 6)
a. being your savings. (set an amount first you want to put aside BEFORE spending the excess)
then with the remaining amount after bills and savings
b. being the BUDGET for groceries
c. being the BUDGET for clothes
d. being the BUDGET for kids toys, hobbies, activities, needs
e. being the excess BUDGET for novelty, surprises

when you go grocery shopping dont bring your bills card, nor savings, clothes, kids cards with you
know your grocery budget before you enter the store. use an app(calculator) to total up what you put into your cart/basket so before you reach the cashier desk you know how much the total is.. and obviously if you are getting near the total you can decide what you can swap/replace/go without

by knowing where the money is going before you spend it. and locking it off into budgets. you can then control your spending

Some people try to be too meticulous when it comes to creating their budget, perhaps this is more true during your student years, or when you are just starting an independent life, and it is important for you to pay attention to every dollar you save, but doing so all the time is tiring.

You need to strive to increase your earnings, at least a little, then you won’t have to save on food or anything else in your daily expenses. You need to be able to please yourself with some little things, and not to think every time about saving somewhere. When you manage to earn a little more, you definitely no need to save this entire amount. You can allocate part of it to budget expenses and use it to improve your quality of life. This is also a very important aspect to see the result of your work.

its not about going fully anal on frugality. its simply looking at the last 3 months of spending and averaging out an amount to prevent you over spending. wher you recognise the wasteful spending to set a rational budget.

by setting a limit by using a card that only holds that budget amount still allows you to enjoy your food, but not blow your entire paycheque buying nonsense food your not going to eat (most people throw away XX% of food)
once you set a budget its not "tiring" because you get into a habit where its not even something you think about. you instead live within your means instead of over indulging beyond what you get paid

of course as your pay increases, you can increase budgets. but having a budget atleast stops you from over spending

atleast writing down all your spending for last 3 months shows you visually where your money went. you can then ONCE look at where your wasteful spending is and where you would prefer your enjoyable spending

EG if you dont care about 7-up or sprite soda. but you find one is cheaper by $1 you may think if you save $1 here you can spend $1 elsewhere such as better coffee

but first you need to atleast look at where previous spending went to make these decisions. and once you made the decisions you lock it in. that way you dont have to keep doing it every week. because the budget is then set and you know what you are dealing with

One of the challenges for most of us is the difficulty of holding back or stopping our lifestyle, especially the lower middle class. Many are willing to go into debt with credit cards for the sake of a luxurious lifestyle. Until now I have never used a credit card, because for me credit cards make us unable to control our desires so it is difficult to save, maybe this is my advice, don't use a credit card

The key if you want to save is to suppress your desires. No need to buy things you don't need, smart at managing finances, smart at seeing business opportunities that generate income. Because for me, if we want to become rich, our mindset must change not how much money we can make, but how much money we manage to save or use for productive things.

In any case saving will always be a good action when indeed your circumstances and conditions are not good - okay especially in terms of personal finance, to be honest I do not always advocate that we should always do it all the time because as you say that it is tiring, it is natural and I understand but I prefer that advice when the situation really tells us to act as an adjustment, but it cannot be denied that sometimes people who have a good income or even above average also take actions like this and apply frugality to their lives.

This method is mostly done by people who are in a situation and situation that is not good - well, it's a common thing and maybe most of us will also do the same. And on the other hand for people who have a good income but still apply such methods, it is their own choice, maybe they feel comfortable with always saving money or there are some encouragement from other things that require them to do so. On the other hand it is true, as you said, not only do we save but we also have to take other actions such as always trying to add jobs to increase our income at the same time, and if we have been able to reach a pretty good situation then obviously as a form of appreciation for the hard work we have done then at least we have to please ourselves by for example buying something that can give us pleasure, it's allowed but still there are certain times to do things like that occasionally, because if you continue to overdo it like that then obviously the situation will return to the way it used to be where financial difficulties will come back.

Every month before getting salary I plan to spend part of salary for family and keep part for personal expenses and save the rest but at the end of the month I don't see the amount of my savings. I managed to figure out the reason why I can't save but even after finding the reason I can't improve in that area. I have a habit of overspending as well as eating out and traveling a lot, which is why I can't save a certain amount at the end of the month even when I plan. Since saving for the future is very important, I try to limit my spending and avoid the extra expenses that I have. Since I was able to find the reason I will be able to save even if it takes time.

the problem is you are SPENDING FIRST and THEN SAVING at the end of the month
instead: when you get paid . first put money aside for savings
this will then cause you to need to change your habit of over spending

you will start to plan what to do with spending money.
EG not simply book travel, but use price comparison sites to get better deals on travel
EG look at last 3 months of spending. put items into categories and total it up in excel
then think about a TRUE budget for each category thats less than the average of the last few months but still an amount to enjoy each category

then get more then one debit card account and put the budgets of each category into each debit card to properly separate the budgets so your not borrowing/stealing money from one budget to feed the other


be organised at the start of the month.. dont wait until the end of the month to then see what you have left to divide up

It's honestly constantly on my mind. How do I provide for my family pay all of my bills and still show them a good time and entertain them give them the best holidays and vacations AND STILL manage to save money and invest. I am at the point in my life where I am racking my brain trying to figure this out. I am not rich I basically live paycheck to paycheck at this point but I know that if I work hard and still take chances on my business ventures that I will one day be successful. Even if right now up until this point I have had a heck of a lot of failures and few success but I am lucky to have time on my side and just left my 20s. I am honestly really putting a lot of faith in Bitcoin that's for sure!  Even if it has to be penny by penny and scraping for dollars always have your end goal and vision in mind.

Give yourself a percentage or an exact amount on how much you will save per salary you receive. Actually, it's not the amount that counts but it is the strictness of control that you are implementing to yourself. Regardless of how big or small it will be as long as you're setting side every time you receive money, that's what seems to be the important thing.

You can do that every time you earn money from your business, from your salary or anything that you receive as a gift. That's what you need to do and don't think of where you'll spend them quickly because thinking those are very easy to do so and what you have to do is to mind yourself in saving first and then investing next.

question:

answer:

solution:
dont just randomly make entertainment, vacation decisions.. instead be strategic
look at last 3 years worth of bank statements and list all the "entertainment" "good times" "vacations"
list the costs per year. and actually design great experiences for less, plan it and budget it

even do extra steps if you like, things like set a yearly budget. then divide it by 52 for a weekly budget.
then set your kids household chores where they can earn upto their weekly budget(pocket money) for funstuff.. that way you give them control of how often they have fun time. obviously you keep the funds on a "fun stuff account" so they dont then waste it on candy. but atleast it get your kids involved in deciding how much they want fun stuff and teaches them about savings

be creative.
you dont need to go to the movies every month costing $42 for a family of 4
instead, dont just sitting on a sofa at home. make it a event at home. get some candy and popcorn and theme the night on the sofa into a experience, its way cheaper then the movies
instead look at local playparks(free swings, slides climbing frames)
instead of going to disneyworld look at other adventure parks

Agreed! These are all fantastic recommendations and many of which I have enployed but not regularly, except for the parks which I am very fond of, nature is also the best playground in my opinion and the kids love to learn cool things about it. Sadly even I can't escape the Disney desire or take it away from my children, Disney magic is contagious amongst young and old evidently no matter how much I hate it and hate their high godforsaken prices. I regrettably try to treat my family to that part once every 2 years if I can help it. I always root for SeaWorld though I've got to say I am actually quite a fan of that place.

The budgeting retroactively isn't a bad idea either and something I haven't really tracked historically on those specific items or cost items that have been outside of budget.

Being creative and enthusiastic is definitely free and I would argue leads to much more fun so thank you for the inspiration to reinvigorate and reinvent in this area!

explore the creativity. you will be surprised where it may lead
also know that kids grow up, surprisingly by 2 years every 2 years. so its not much longer before they are bored of mickeymouse and princesses, maybe one more vacation and they will want something different

the other thing about the pocketmoney/chore thing. is if you explain the math in kid-speak that if they want disney in 2024 they need to do 5out of 6 chores per week. it lets them decide if they really want disney.. or you can give them other options. if they only do 4outof6 then they can have disney in 2025 or they can go to local themepark in 2024

let them motivate themselves to do chores. even if its simple kindergarden age kids. like dressing themselves or brushing teeth or making bed.. it doesnt have to be yardwork or cooking a family meal (leave more complex chores as they grow up)

but by budgeting an amount for a vacation and putting the money aside per week/month doesnt shock the system next year. you can even make it fun. like earning bonuses(if they skip chores) if they do good things with the family like make a hand drawn mothers/fathers day card or if they win a game of hide-n-seek

yep playing hide-n-seek around the house is free. but can be fun to make kids earn their vacation weekly goldstar/points.. by doing free fun things that save you money/time

it can change the mood of the family too.. instead of "go to your room and clean it or else your not going to see mickey" it becomes 'hey kids did you do todays disney gold stars"

things like "instead of going to seaworld this weekend do you want to earn xx disney stars by going to a nature park instead this weekend"

true! The main issue isn't even the amount you are putting saving, consistency matters a lot when it comes to dealing with your saving habit.

You can even decide to be saving a small percentage of your monthly or weekly earnings like 30% and no matter what happens, you know you must save that amount and after you've saved that you can now decide to save the an additional amount in cases when the amount remaining exceeds what you've planned to use it for.

The issue with most people is that they budget a huge percentage of their monthly early as the one they will be saving but at the end of the day, they aren't consistent with their saving because of unplanned demands theat might come along the way.

I don't think that's the problem, but daily cost needs are higher than a person's income so it becomes an inhibiting factor and if you try to break down the average it will be seen that covering monthly costs is still not maximally accommodated.

I see intelligent people always making calculations or calculations to see which points are weak and need to be improved.

Well, if you find it, it will be easy to allocate some extra funds for savings. If you are forced to save first, wait a minute, then what arises is the potential for being in debt again.

It's actually easy, if you don't buy things for their own satisfaction, do it continuously, you won't be addicted to buying things that you will only regret later.

Even though savings keeps money aside, at the end of the month I feel that I should spend that money from struggling. I think like this at the end of every month which is why I can't save money permanently even if I put money aside. I have shared some of my bad habits in my previous post, I understand things I should give up but still I can't give up those things. The extra travel costs my bike extra fuel which is an extra expense for me as well as eating out at extra restaurants and staying in hotels on long drives which also cost me a lot of money. I understand that there comes a time in life when I shouldn't move around so much but still I know why I can't actually do this. Maybe I wouldn't have to stress about saving now if I could work the way I think.

Saving without a plan is like sailing without a rudder. To what purpose are you storing cash? Money should be dynamic and work for us economically. While saving is important, I think balance is better. What if we invested 20% of our salary? Our money grows and adapts to the economy this way. We're wired for instant gratification, making "saving first, spending later" difficult. Would it change things if we saw saving as self-care? Consider your savings account as a vacation, startup fund, or emergency fund. Doesn't that inspire? Saving should be seen as a strategy for future success and stability, not just a savings account. A modest mindset shift could lead to a healthier financial existence.

instead of for instance getting $1800 a month(~$15/h : 40 hours/w then taxed). putting $500 aside at start of month. and then spending the other $1300 on bills, groceries and life stuff and run out before the end of the month to need to then touch the $500 to survive the remainder of the month..

learn to budget it all at the start
look over last 3 months of spending. and categorise it in a spreadsheet
actually have a proper deep look at your spending habits and see where the money actually goes
then using multiple bank accounts. set budgets for it

EG if your groceries average $80-$120 a week
set a "grocery account" that only gets a standing order(auto-payment) from main account of $100 each week as a set schedule in your main account settings.
then when you go grocery shopping only take the grocery account card with you. that way it keeps you within your set budget

many people have no issues having 15 credit cards in their wallets for different loyalty SCAMS
but they never organise themselves to have 6 debit cards with set auto-payment limits to help them budget to never need to touch savings/use credit

just try today to look at the last 3 month of bank statements and put it into a spreadsheet. calculate average spending. and ration it out into different accounts

and just this week see how frugal you can be by buying cheaper brands or not buying non-essentials.. test yourself this week.
see what you can learn about yourself this week

---

challenge yourself this week. test yourself. make it a game/competition

there are other mindset tricks too

for instance if you are paid say $15/h work
if you can do something this week where it takes you an hour of planning/organising/thinking, that saves you $22.50 the you have managed to pay yourself 1 hour of 'overtime' work at time+half

for instance if groceries takes you 45minutes. but purchase deciding whilst in supermaket can take 15 extra minutes
if you can save $15-$22.50 you have just paid yourself to go shopping instead of working for an hour

Yeah, consistency is the key to this practice. When you're too great with small amounts then for sure that you are now able to handle big amounts and you're going to save money no matter what happens. The problem with people that earns a lot that came from bottom earner, the lifestyle is also inflating and instead of saving more is that, they're spending more for their own satisfaction. But that's okay because everyone deserves to feel that type of living when they came from the bottom.

I reckon the tip of what I have heard a long time ago is that you're not saving money to save money but you are saving money to invest it to any investment or asset that shall appreciate overtime. What type of investment and asset? We're in a bitcoin forum and that's obvious to say but other than that, it depends to what you know as long as you don't invest into those without prior knowledge.

There's should be a balance on which we know that savings does play a crucial role specially on emergency times or the moment we do need up some money. These things or amounts isnt really just that intended for disasters but also could really be used on having some investment on which it would really be possibly be able to add up more income source in case it would be succeeding. It would really be just that depending on a certain individual on how they would really be handling up themselves when it comes to this matter because it isnt really just that hard to save up if you are really that dedicated on saving into or having those kind of plans.
There's no need on cracking code or whatsoever because it does really only need up that kind of common sense and realistic approach on things which needs to be done.

Dont make yourself do able on coming into a point that you dont have any savings and then problem comes, then this is the time that you would really be seeing
this to be that savings are really that important. Dont wait up for such moment to come! So better save than on having those kind of regret.

having some usdt set aside for unexpected things that come up will be great especially if you have a family to take care of. when you don't have this, you'd be scrambling to ask your parents which is embarrassing.

i once read from a book that says, it doesn't matter how much your salary is, it's what you have saved. this is true because people who earn huge salary per month also spends too much. they forget to set aside for emergency.

Saving can support us in any situation. It also helps people when it comes to savings, investments or needs. We use the savings we make in time to use them in times of need, and saving is important because we never know when our needs will be met.

I don't think it is difficult to save money, if you are determined to do it, you should do it. It can be very comforting to think about the advantage of saving money and using it when you need it.

We need to understand the importance of saving before we get into a difficult situation. Human needs are infinite and we may not always have the resources for them, but when we save, we can have a certain amount of resources.

Savings has a good historical record for quite some time now and that habit has saved a lot of people a lot of things If you need any money you don't need to bother people you just go to the money is saved and take money out of their to avoid unnecessarily disturbing anybody, the strictness of control and serious discipline and their means I have discovered to save my money I opened a dormant account that I don't have access to no cards no way of withdrawing from there, with that I find it very easy to safe money that way, it will be easy for everyone to develop their way of saving money. and it will be of serious help. aside from saving money if you are into business and you are not disciplined you will have a problem managing your finances. and anyone familiar with economics should not have a problem saving money you should know what is important and not.

Reduce unimportant needs, yes, if the income is about right for everyday, you have to save. another way to find additional passive income if you are online, that's what I think. So once again, it depends on the needs and personalities of each because there are times when we cannot save because of certain conditions, for example, hospitalization or other things that cannot be avoided.

Correct me if I'm wrong, but think it's much more than that in developed countries. I think you need around $800 to cover basic food needs. Where I live it used to be $20, but now I feel like it's than $200 too. But of course it depends on what you are eating. With wise calculations you can eat healthy for just $50 per month, I'm sure, almost anywhere in the world. And I think it can be $20 in some places still.

I've found that creating a solid budget and sticking to it is best. It helps in identifying areas where you can cut back and allocate more to savings. 

Billionaires have said poor people save money while rich people invest their money. Well, from that point of view we can clearly see differences and it's possible outcome. Saving money is much better than wasting it but investing it to something that will gave us more than the amount we save is the best and wisest choice.

There should be a good plan for making money which can vary on many factors; First of all, keep learning skills and make yourself worthy so that money will chase you and let's say in case your earning has started you should have control over your spending, over spending is bad habit. Divide your income into three parts one for Investing, second for saving... saving is a very important part so that it can help you to overcome your future problems and third for your expenses in this way you can generate a good amount of money.

Before spending, you save.
That's the idea that I've learned from those people that keeps on talking about money matters. They're like the financial advisors and tells advises about money management. It's effective so before you spend your salary, take out already the savings. That's effective when you are pursuing to save but if you're a breadwinner you may have hard time but still, you can follow that strategy. And they always say that it's not about the amount of money you earn but about what you save.

In increasingly difficult economic conditions, it will be quite difficult for people to save unless you have a stable income, even if the figure is small. There are ways to make a savings percentage and maybe one of them is to stop shopping for things that are not really needed and try to save money for daily food needs.

How to save may be much more difficult if someone does not have a fixed and stable monthly income at work. This can influence someone to encourage the preparation of savings for their old age and if the concept of living a life in simplicity is not implemented then saving is a difficult agenda that cannot be carried out consistently. It is better to save small amounts consistently than saving large amounts but not doing it regularly.

It is very important to manage finances and learn finances from an early age. I think this will help us in the future for a better future and a calmer old age. because, if not it might be detrimental, as a simple example if we have any amount of money (inheritance) it will run out if we can't manage it. So I think managing finances is important even from an early age, and this will definitely make us calm in old age.

This is true that in such difficult situations we cannot make saving and if we are getting regular salary then there is a hope that we will save some money even if it is small but we can save it. If we have no income source then neither our present will be worse but our future will also he worse therefore one should be engage in double jobs as early as possible because situations are becoming more difficult day by day.

A person should also minimize the use of those things which are not needed whether he has more or less money because if we are buying useless things then it means that we are wasting our money so instead of such wasting we should save that amount for our bright future.

It's crucial to focus on what we truly need, rather than impulsive wants. Before each purchase, ask yourself: "Do I really need this?" This way, you can be more selective and ultimately save money by avoiding non-essential expenses.

For leisure activities, I prioritize enjoyment hours and their impact on my overall well-being. Take Baldur's Gate 3 for instance. At $60, it offers over 100 hours of immersive gameplay, something I genuinely enjoy. This long-lasting enjoyment makes it a valuable purchase compared to temporary pleasures. This approach ensures I spend wisely on experiences that enhance my life, both in leisure and productivity  ;D

If the funds obtained monthly are only enough to meet monthly needs, saving is not recommended. If you have a new advantage in saving, don't let your own needs be withheld, let alone those for your family. The solution to make it easier is to look for additional livelihoods.


That's right, sir, not only money management for trading is needed, this also has to be dealt with as well

those that want to save and then hope spare money just magics into their hand. are not doing the easy route. they are dreaming easy comes to them
the easy route is to visualise your income and expense by planning it before spending.
its far more easy to save if planning at start of month rather than hoping for savings at end of month to just appear

people have needs. but even with needs there is some wiggle room
you need heating. but do you need heating at precisely 17^oc all day and night.
maybe you can find the wiggle room of having heating intermittent or at 15^oc
when in bed have a blanket so you can have heating lowered whilst asleep

you need groceries. but do you need specific brand groceries
maybe you can find the wiggle room of having lesser known brands or smaller portions. or do home made/batch cooking instead of pre-made/fast food

you dont have to go without your NEEDS but you can still try to find savings

yes ofcourse finding extra income helps. but actually look at all options. making a plan, budgeting, writing out your incomes and expenses and actually having all data visualised so you can see all possibilities is far better then just saying "no, i cant budget.. because everything is a need, so i wont even try"

even things like your car. everyone needs transport.
but look at your car costs. do you really need that engine size of a vehicle. whats the insurance. can you downgrade. is there a smaller engine car that has cheaper insurance. do you need a newish model or can you sell it and get a older age model thats recently passed its inspections
by getting a lower size engine your fuel economy can improve (unless your hauling heavy goods/trailers)
also having a older lower engine car you are less concerned about having the fully inclusive insurance package for all eventualities and instead only care about third party accident policy
even look at how much fuel you use per week and how many miles travelled. work out the cost of going to usual places. do you need to go to starbucks everyday, once you have calculated the cost of the full journey+the coffee. or can you make a coffee at home

..
you will be surprised the savings you can make if you add it all up from small savings from lots of little things

one of the ways i can save money is by reducing unnecessary expenses and as much as possible to create new sources of income to be able to increase my income to be able to save, because if you can't reduce your expenses or don't create new sources of income, it will be quite difficult for you to save for your future.

it is also important for you to be able to manage your finances and not buy things that are too expensive which are not within your means. because sometimes people who have difficulty saving don't manage their finances well and they tend to be wasteful and spend their money on expensive items even though they are just for style.

It is true that there is no opportunity to save when someone is experiencing financial problems, not having a regular salary will increase the burden of routine expenses, making it quite difficult for people to balance expenses and income. Saving is important as a preparatory step for the future and the problem lies in how ready a person is to make money every month consistently and if this is not stable then saving is a big problem that is quite difficult to solve.

When we have the confidence to save amidst such difficult economic conditions, the step we need to take is to live with simplicity and not spend money on things we don't need. The life we live in this world is a strategy and someone must have a problem formulation that must be solved because otherwise it will be difficult to meet the needs of life amidst rising prices of goods and our income is unstable.

That's the theory, but it's not easy to do, so I think there's only one most effective way, namely increasing income from other sources so that we can save and still meet our needs.
Not everyone can afford to meet their needs so looking for more money is the solution.
Managing finances is indeed something that is quite sacred in terms of survival and determining the future. This is knowledge that needs to be studied because there are many experiences of other people who will face difficulties in the future when they are unable to manage their finances well.

If you only have a small income, it will be very difficult to be able to save and also save because the income you earn may not necessarily be able to meet the needs they need, so it is very important to be able to have several sources of income to be able to meet the needs we need and also have savings, because without having sufficient sources of income it is very difficult to manage to meet your needs and save.

Using the income we have on things we don't really need, they only buy them because other people have bought them. Of course this will mean that the income we have will not be enough if we just use it for style, it would be better if we could prioritize what we really need. with what we only want but don't need, if we can separate these two things I think we will be able to manage our finances well.

Learning at a young age is definitely will help that person grow and will determine his finances and priorities.

I have heard a lot of stories of inheriting huge amount of money from their parents or grand parents and then they didn't managed to grow it due to them lacking of financial knowledge. And for a fact that even they've got a lot of money, it can be gone too soon when they're spendthrift.

The solution you said could indeed be a good enough solution for everyone who still finds it difficult to manage their finances, but finding other sources of income is also not easy in conditions like now. Because I see that in certain sectors in my surroundings it is still quite difficult for some people to find work, so this has made it difficult for some people to earn more income so that they can manage their finances better. So the difficulty in this case is actually not in how to manage your finances, but in how to get a job that can generate a more decent income in life.