How to save money.

[Don007]

Have a written budget, the easiest way to cut your costs is to know where you are spending your money. Having a written budget and tracking your expenses to ensure that it’s accurate is half the budgetary battle.

Amen to that! Writing down each expense you make, really gives you insight in your actual costs/expenses and besides that, it also works well to actually stop spending too much money. (You will see for example that it is useless to buy drinks at gas stations for example). I've heard there's also some great software to do this, but I have not looked into that yet.

[ajareselde]

Its nonsense because you just only enjoy your salary by spending them into things that give you a happiness and it can help you.

They youth of the countries today generally believes in spending rather than saving. I am talking of the youth who are new to work and getting the first salary so will never think of saving they just believe in spending the money with friends and that process keeps on going for ever and ever unless they don't get aware their responsibilities towards their families.

In my opinion , people should do that for themselves, not for their family or friends, but for their own well being.
Youth can not understand what we know, even if you explain them over and over again, they need to experience loss on their own - they need to get burned few times before realizing the truth of things.
I'm not all that into savings to cut joy out of my life, or one of my family, but i sure do love to save money by doing things differently; and saving up withouth loosing the good i am saving money on.

Example:

I had a rather large utility bill for water, but instead of cutting down on using water, i built a well with hydropack, and now water is virtually free for me (dust money for electricity - when hydropack is running)
Simple example, investment ROI was about 2 years. Money saved now withouth loosing any comfort, hell water even tastes 10x better (also had it analysed in a lab - everything was excellent)

The point i'm trying to make is that saving money doesn't mean that you always need to make sacrifices, there are a lot of other things you can do to save on the same principle.

cheers

[Don007]

Indeed ajareselde, you've got a very important point over there. There are multiple ways to save money thus; there's no absolute need to save money in a bank account. In fact, "spending" money in order to save money, like you did or by buying for example solar panels, is probably more efficient: Like you said, after you reach your ROI it will "give" you money (in the sense that you don't have to spend money on huge amounts of water anymore).

I think solar panels are a great way to "invest" in your life. However, they do demand large "standup costs". I've been told that a ROI of these panels is able in 8-10 years (over here, in the Netherlands). But hey, it's also great to provide for your own energy isn't it?

[ajareselde]

Indeed ajareselde, you've got a very important point over there. There are multiple ways to save money thus; there's no absolute need to save money in a bank account. In fact, "spending" money in order to save money, like you did or by buying for example solar panels, is probably more efficient: Like you said, after you reach your ROI it will "give" you money (in the sense that you don't have to spend money on huge amounts of water anymore).

I think solar panels are a great way to "invest" in your life. However, they do demand large "standup costs". I've been told that a ROI of these panels is able in 8-10 years (over here, in the Netherlands). But hey, it's also great to provide for your own energy isn't it?

Yup, it's effective, and i just mentioned the well as an example, a bit of a longterm for some, but overall a good deal. You can expand that thought on solar panels also, but that seeks much more of an investment.

There are many smaller things that u can do to try to save up, even sharing you internet connection with neighbours can save you some bucks, and while many will think you loose bandwidth with this, it mostly isnt the case. Im on such shared connection, me and 4 other people use it, we upgraded the package to max that provider could give us and went from solo 5 mbit to shared 25 mbit, but are paying half the price when we split the bill. The only investment there was some networking devices (alfa 2w adapters) so that we can have the needed range. Simple as that. Advice if you do this: make a shared local network folder with movie/series download, that way there is going to be much less outband connection usage - the traffic will be local (wifi)

cheers

[Possum577]

Example:

I had a rather large utility bill for water, but instead of cutting down on using water, i built a well with hydropack, and now water is virtually free for me (dust money for electricity - when hydropack is running)
Simple example, investment ROI was about 2 years. Money saved now withouth loosing any comfort, hell water even tastes 10x better (also had it analysed in a lab - everything was excellent)

The point i'm trying to make is that saving money doesn't mean that you always need to make sacrifices, there are a lot of other things you can do to save on the same principle.

cheers

Let me get this straight. You buy water, a lot of it because you mention you'd have a large utility bill for water, then you put that water in a well. Then you say that using that water in the well is "virtually free". Did you pay for it from that large utility bill for water? Or are you creating new water with it (which sounds crazy).

A great way to save money on electricity is to have solar panels on your house. If you don't use all the electricity the electricity companies will buy your excess power you generate back from you!

[grendel25]

Whatever you do, don't get married.  And if you must get married, have a good financial plan and agreement --in writing-- ahead of time.  All sorts of control of your finances is lost when you get married.  Automatically, there are laws that guarantee your spouse certain amounts of your income.  Sometimes even until you are long divorced.  I'm not saying all the laws are wrong... I'm just saying learn about them because it can really affect "how to save money".

[Amph]

Whatever you do, don't get married.  And if you must get married, have a good financial plan and agreement --in writing-- ahead of time.  All sorts of control of your finances is lost when you get married.  Automatically, there are laws that guarantee your spouse certain amounts of your income.  Sometimes even until you are long divorced.  I'm not saying all the laws are wrong... I'm just saying learn about them because it can really affect "how to save money".

this is my first prerogative in the real life, removing all the problem, the first is about getting married, the second is removing the needs for the job, the third is being only happy and nothing else

removing all these problems is another way of saving your money, when you are alone it is much easy to control your income, and much easy to avoid a complete random mess

[Don007]

*snip* when you are alone it is much easy to control your income, and much easy to avoid a complete random mess

Yes, that's true. However, if your partner also has a job, it might be easier to make ends meet; to be able to pay your costs. Sure, your total expenses are higher when you're living together with someone than when you're living alone. But for example the rent is much easier to cover with two persons.

[bumm]

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 .

Great analysis and suggestions. This truly defines a proper way of managing your hard-earned money. It doesn't matter if a person is earning low or high until it is being properly managed. Well thought out plan.

[Dotakels]

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 .

Great analysis and suggestions. This truly defines a proper way of managing your hard-earned money. It doesn't matter if a person is earning low or high until it is being properly managed. Well thought out plan.

Thanks. but some people can't still understand my point, they have so many question that they can only answer it by them selves. By experienced it or they would realize.

[cbase]

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 .

Great analysis and suggestions. This truly defines a proper way of managing your hard-earned money. It doesn't matter if a person is earning low or high until it is being properly managed. Well thought out plan.

Thanks. but some people can't still understand my point, they have so many question that they can only answer it by them selves. By experienced it or they would realize.

The people who don't realize the value of money are either doing very well and having abundant of it, or they actually do not care about anything. 
Just kidding  anyways on a serious note, it is truly a job well done from you to get all the aspects covered.

[ajareselde]

Example:

I had a rather large utility bill for water, but instead of cutting down on using water, i built a well with hydropack, and now water is virtually free for me (dust money for electricity - when hydropack is running)
Simple example, investment ROI was about 2 years. Money saved now withouth loosing any comfort, hell water even tastes 10x better (also had it analysed in a lab - everything was excellent)

The point i'm trying to make is that saving money doesn't mean that you always need to make sacrifices, there are a lot of other things you can do to save on the same principle.

cheers

Let me get this straight. You buy water, a lot of it because you mention you'd have a large utility bill for water, then you put that water in a well. Then you say that using that water in the well is "virtually free". Did you pay for it from that large utility bill for water? Or are you creating new water with it (which sounds crazy).
A great way to save money on electricity is to have solar panels on your house. If you don't use all the electricity the electricity companies will buy your excess power you generate back from you!

You really made me laugh hard! No, i don't put bottled water in the well - why the hell would i do that ?! It's a water well (google it if u really don't know what i'm talking about), but unlike those old ones when you would took water out of it with a bucket,i have a water pump installed. So it is virtually free water, except for dust money for electric pump, when it's working. (And maintenance costs every two years to clean the well)

Solar power is much more attractive if you don't use batteries but instead sell the power straight to the network - because of much smaller set-up costs.
But you need to sign a contract with the network first, at least that's the case where i live.

cheers

[stromma44]

Have a written budget, the easiest way to cut your costs is to know where you are spending your money. Having a written budget and tracking your expenses to ensure that it’s accurate is half the budgetary battle.

Budget and action plan can make a difference. Creating only a budget will not help in long run you also should be ready with a good action plan and need to follow it rigorously on regular basis try to postpone the expenses which are not important and carry it for the next month.

[Dotakels]

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 .

Great analysis and suggestions. This truly defines a proper way of managing your hard-earned money. It doesn't matter if a person is earning low or high until it is being properly managed. Well thought out plan.

Thanks. but some people can't still understand my point, they have so many question that they can only answer it by them selves. By experienced it or they would realize.

The people who don't realize the value of money are either doing very well and having abundant of it, or they actually do not care about anything. 
Just kidding  anyways on a serious note, it is truly a job well done from you to get all the aspects covered.

yeah and they have a flawed mind to understand what i really mean, and sometimes their question or topic are really out of topic, but i just ignore it because its so hard to explained if they not really understand.

[MF Doom]

Have a written budget, the easiest way to cut your costs is to know where you are spending your money. Having a written budget and tracking your expenses to ensure that it’s accurate is half the budgetary battle.

Budget and action plan can make a difference. Creating only a budget will not help in long run you also should be ready with a good action plan and need to follow it rigorously on regular basis try to postpone the expenses which are not important and carry it for the next month.

I agree, a budget can show you what you REALLY spend in a month.  Just make sure you put EVERYTHING.  Even that 7.99/month netflix bill.  Thats the first big hurdle is to actually figure out EVERY last thing you are spending money on. Then figure out what needs to be cut.  Everyone has somethign that can be cut.  Then make sure you have a SAVINGS category.  Whether you put that into btc or not is your call 

[nerFohanzo]

Have a written budget, the easiest way to cut your costs is to know where you are spending your money. Having a written budget and tracking your expenses to ensure that it’s accurate is half the budgetary battle.

Budget and action plan can make a difference. Creating only a budget will not help in long run you also should be ready with a good action plan and need to follow it rigorously on regular basis try to postpone the expenses which are not important and carry it for the next month.

I agree, a budget can show you what you REALLY spend in a month.  Just make sure you put EVERYTHING.  Even that 7.99/month netflix bill.  Thats the first big hurdle is to actually figure out EVERY last thing you are spending money on. Then figure out what needs to be cut.  Everyone has somethign that can be cut.  Then make sure you have a SAVINGS category.  Whether you put that into btc or not is your call 

Unwanted expenses should be avoided or should be carried forward to next month and who knows next month you might not need to spend your money on those expenses and you can also save a small part of money in a piggy bank 

[ajareselde]

Have a written budget, the easiest way to cut your costs is to know where you are spending your money. Having a written budget and tracking your expenses to ensure that it’s accurate is half the budgetary battle.

Budget and action plan can make a difference. Creating only a budget will not help in long run you also should be ready with a good action plan and need to follow it rigorously on regular basis try to postpone the expenses which are not important and carry it for the next month.

I agree, a budget can show you what you REALLY spend in a month.  Just make sure you put EVERYTHING.  Even that 7.99/month netflix bill.  Thats the first big hurdle is to actually figure out EVERY last thing you are spending money on. Then figure out what needs to be cut.  Everyone has somethign that can be cut.  Then make sure you have a SAVINGS category.  Whether you put that into btc or not is your call 

Isn't it possible to share Netflix account with other people also ? Would make sense if they don't block users from connecting from multiple IP's, now i know it may sound dumb to some since it's just a few bucks,
but taking care of small amounts let's you save up also with time.
BTW i wouldn't call any type of investment saving, as it can very well be in a loss at the time you need it most, but if you already have seperate emergency funds, it's not a bad idea at all.

cheers

[evenlydistributingfuture]

Maybe wallet services like Blockstream or Coinbase could somehow work into a user's home screen a listing of transactions and money spent in the last 30 days or something, something that is analogous to a credit card bill listing everything you have been spending money on.

People like that credit card companies do this; it's a de facto accounting system for people to use without their having to do anything extra and it encourages them to use credit cards to pay for things on a daily basis.

Maybe BTC will have something similar at some point. Probably more likely years off when a lot more BTC transactions are taking place and a summary of what you've spent money on in the last 30 days using BTC would be more useful since it would include most of someone's expenses.

[lissandra]

You save money by earning more.

Thats opposite then most views, but heres why. Theres a certain extent you can only save so much, clip coupons, order from the dollar menu, living a horrible frugal life style.

When you could be increasing cashflow by being creative.. and still be frugal.

[ajareselde]

You save money by earning more.
Thats opposite then most views, but heres why. Theres a certain extent you can only save so much, clip coupons, order from the dollar menu, living a horrible frugal life style.
When you could be increasing cashflow by being creative.. and still be frugal.

I just assumed that everyone is already doing whatever they can to earn more, so it didn't make much sense to talk about it.
And when it comes to savings, i always prefer methods that doesn't compromise lifestyle too much, but still offer certain amount of savings to be made.

cheers