How to save money.

[Triple]

The easiest way to save is to set up automatic transfers on your bank account.

For example, transfer 10% of your salary every month on to a side account that you force yourself to not access for a certain period of time

And just forget about it for a while

Yes it is good idea but one shouldn't have a easy access for that account. If he/she got easy access then there are chances they may use it when they need it.

Self control plays a major part in saving money. If you can control yourself to save however much and not overspend, then saving money should be easy.

[1714651696]

1714651696

[Dotakels]

The easiest way to save is to set up automatic transfers on your bank account.

For example, transfer 10% of your salary every month on to a side account that you force yourself to not access for a certain period of time

And just forget about it for a while

Yes it is good idea but one shouldn't have a easy access for that account. If he/she got easy access then there are chances they may use it when they need it.

yeah banking your money is good but theres such a thing that we consider like the inflation because it can affect our money in bank, after a year our money will value will decrease. And take all the insurances don't think that insurances are another payment, it will help you in the future.

[n2004al]

The easiest way to save is to set up automatic transfers on your bank account.

For example, transfer 10% of your salary every month on to a side account that you force yourself to not access for a certain period of time

And just forget about it for a while

Yes it is good idea but one shouldn't have a easy access for that account. If he/she got easy access then there are chances they may use it when they need it.

yeah banking your money is good but theres such a thing that we consider like the inflation because it can affect our money in bank, after a year our money will value will decrease. And take all the insurances don't think that insurances are another payment, it will help you in the future.

The money will be affected by inflation everywhere will be. So this factor cannot be in consideration when someone need to take a decision about where to send the savings. In bank or everywhere else the savings will have inflation. Exact in the same amount. So this is not a factor that cannot leave us to save the money at the bank. There will have the same loss from inflation like in every other place. I don't know some place which protect the savings from inflation. At least in my country. If you know any please write here because I am curious to know that.

[Dotakels]

The easiest way to save is to set up automatic transfers on your bank account.

For example, transfer 10% of your salary every month on to a side account that you force yourself to not access for a certain period of time

And just forget about it for a while

Yes it is good idea but one shouldn't have a easy access for that account. If he/she got easy access then there are chances they may use it when they need it.

yeah banking your money is good but theres such a thing that we consider like the inflation because it can affect our money in bank, after a year our money will value will decrease. And take all the insurances don't think that insurances are another payment, it will help you in the future.

The money will be affected by inflation everywhere will be. So this factor cannot be in consideration when someone need to take a decision about where to send the savings. In bank or everywhere else the savings will have inflation. Exact in the same amount. So this is not a factor that cannot leave us to save the money at the bank. There will have the same loss from inflation like in every other place. I don't know some place which protect the savings from inflation. At least in my country. If you know any please write here because I am curious to know that.

i only know that inflation can't affect your money and you want to save your money, save it or keep it from your wallet just exchange it into bitcoin and from this way you can also earn some profit by exchanging your bitcoin to your fiat money higher than when you exchange your money into bitcoin.

[n2004al]

The easiest way to save is to set up automatic transfers on your bank account.

For example, transfer 10% of your salary every month on to a side account that you force yourself to not access for a certain period of time

And just forget about it for a while

Yes it is good idea but one shouldn't have a easy access for that account. If he/she got easy access then there are chances they may use it when they need it.

yeah banking your money is good but theres such a thing that we consider like the inflation because it can affect our money in bank, after a year our money will value will decrease. And take all the insurances don't think that insurances are another payment, it will help you in the future.

The money will be affected by inflation everywhere will be. So this factor cannot be in consideration when someone need to take a decision about where to send the savings. In bank or everywhere else the savings will have inflation. Exact in the same amount. So this is not a factor that cannot leave us to save the money at the bank. There will have the same loss from inflation like in every other place. I don't know some place which protect the savings from inflation. At least in my country. If you know any please write here because I am curious to know that.

i only know that inflation can't affect your money and you want to save your money, save it or keep it from your wallet just exchange it into bitcoin and from this way you can also earn some profit by exchanging your bitcoin to your fiat money higher than when you exchange your money into bitcoin.

First the inflation of money don't depend from your money. If the inflation will be (for some reason which have no importance to be told here) will be for sure. Whatever you do. Converting or not your money in bitcoin from you have nothing to do with inflation. If you do this (change your fiat money in bitcoin) first you will be never sure that will earn more from this action. You don't know in which direction will go the price of bitcoin. In other words if the value of bitcoin compared to your ex fiat money go down you will lose for sure. This is the first thing (and the first loss).

Then one day you will be forced to change again those bitcoin in fiat money to use it in the reality. Bitcoin cannot be used to buy bread or clothing or to go to the cinema. In that moment you will have again the previous fiat money. And if that fiat money during the time you had those in bitcoin it would be inflated the money you will have from bitcoin will be for sure inflated. So in conclusion. If you do what do you want to do and have wrote in your post you will lose not only from the decrease of the price of bitcoin but even from inflation.

If the price of bitcoin will go high you will earn from this but for sure you will lose again from the inflation when will realize the above cycle. Which is obligated to be made. Who will be the result of your actions in this case have no interest to be discussed regarding the matter we are discussing.

[newbie miner]

Saving money is one of those tasks that's so much easier said than done. Everyone knows it's smart to save money in the long run, but many of us still have difficulty doing it. I think it is easier saving than simply spending less money.

[eternalgloom]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

[Nami]

This is my first post. Please do respect

My post intention is to help readers to save their money.

Some of the employee are not saving their money. They spend it on things that they dont need. For example gadgets,buying a concert ticket, accesories, etc.Buying things that not they need is also like a wasting money. Because this thing give a happiness  not a good life. Saving money is just like securing your future because your savings can help you in emergencies. These are the way to save money .
If you are empolyee. You must save atleast 20% of your salary. The 20% of your salary divides into two .


The 1st way : cash reserves- medical insurance, retirement, life insurance  and if you not have salary yet. And emergency. But dont spend all of you 10% in this emergency. You must know if the injury is serious o not before you spend the 10%.
The cash reserves must equal of your 6 months salary this will help you and ensure you becauas of you loss your job you have extra money .

The 2nd way : investment, business- you can invest in some company so that you have a extra income. And you can also built a small business that will always have an income like apartment.

Example. My wage is $ 7.5 per hour and i work for 8 hours and i work for 20 days. So thar my salary is $1,160 . The 20% of $1,160 is $232 .
So that my cash reserves is $ 116 i can spend this money in emergencies and medical insurance.
If my 6 month salary is $6,960 i can stop my saving money in cash reserves.
 

Thank you .

One way is not to spend more than what you can earn and not to buy unnecessary stuffs. 

[roadbits]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

It is a quite good move towards saving money but the % what your saving may not be sufficient for the retirement life so slowly you may increase your % of savings up to 30 to 40% for better future life. But I like the way how you manage your finances.

[ajrah]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

This is a good suggestion. I remember during college days my professor told us to keep record our spending's in a simplete spreadsheet, 1 column for credit (any incoming money) and debit (any out going money). This way you can track if you are on a negative already.

[techgeek]

keep diary listing every penny you spend. Even if you don't change your habits it's eye-opening to see where the money goes.

Even though we all save money, its hard to save in general.

I mean we all want a new iphone 5 or iphone 6. So its a matter of self control.

[techgeek]

but  if you wanna go out to watch concerts or anything that make you happy, i think you should invest .

Investing is better to grow your money but it may loss because of risk.

Investing is better to grow, but how long will it take? Some people live for the moment lol.

I think the important lesson in general is to watch what you spend.

[MinerHQ]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

It is a quite good move towards saving money but the % what your saving may not be sufficient for the retirement life so slowly you may increase your % of savings up to 30 to 40% for better future life. But I like the way how you manage your finances.

Yes one may need more than 15% of current earnings for their retirement so we need to save more ......

[Outlander]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

It is a quite good move towards saving money but the % what your saving may not be sufficient for the retirement life so slowly you may increase your % of savings up to 30 to 40% for better future life. But I like the way how you manage your finances.

Yes one may need more than 15% of current earnings for their retirement so we need to save more ......

exclude the daily spending and save the others! The saving is split to emergency money on side, the others are for investment!

[Dotakels]

The best way to save money is to keep records of your spending and income.
Review it at the end of every month and adjust your spending accordingly.

I try to save 15% of my income every month, nice little security.

It is a quite good move towards saving money but the % what your saving may not be sufficient for the retirement life so slowly you may increase your % of savings up to 30 to 40% for better future life. But I like the way how you manage your finances.

Yes one may need more than 15% of current earnings for their retirement so we need to save more ......

exclude the daily spending and save the others! The saving is split to emergency money on side, the others are for investment!

you must prioritize you saving just like when you earn you salary you must need to less the saving and then spend the left money into you bills and payment and if still have a excess money bought the things that make you happy.

[thejaytiesto]

To save money first of all you need to be able to have excess money. A lot of people out there can't have excess of money simply because they get exactly right about enough money to pay bills, food, basic expenses, then they are back to 0. Every month, without a escape from this loop. This is why in capitalism most of the old money remains in old money's hand. If you are able to save money you are part of a privileged class.

[Triple]

keep diary listing every penny you spend. Even if you don't change your habits it's eye-opening to see where the money goes.

Even though we all save money, its hard to save in general.

I mean we all want a new iphone 5 or iphone 6. So its a matter of self control.

100% on self control. There's no need to upgrade your phone every year and a lot of luxury items are looked at as too important.

[christycalhoun]

Real estate is a good investment in the right places. Even if the value goes down you at least have a property that you can settle down instead of renting.

[wearepoor]

but  if you wanna go out to watch concerts or anything that make you happy, i think you should invest .

Investing is better to grow your money but it may loss because of risk.

Investing is better to grow, but how long will it take? Some people live for the moment lol.

I think the important lesson in general is to watch what you spend.

Agreed with you, we should monitor our spending on a regular basis so that we can get a better idea of our exact expenses and we can then further sort all the expenses in the categories like which is mandatory and which can be avoided - unnecessary expenses. 

[Bluto]

but  if you wanna go out to watch concerts or anything that make you happy, i think you should invest .

Investing is better to grow your money but it may loss because of risk.

Investing is better to grow, but how long will it take? Some people live for the moment lol.

I think the important lesson in general is to watch what you spend.

Agreed with you, we should monitor our spending on a regular basis so that we can get a better idea of our exact expenses and we can then further sort all the expenses in the categories like which is mandatory and which can be avoided - unnecessary expenses. 

I think of saving money as just another example of physical / mental willpower. If you don't really need something, why buy it?  I guess i keep it simple!