Best way to manage money?

[tommorisonwebdesign]

So I have seen a lot of topics relating to different methods of managing money ("How to earn Bitcoin, "How to save money") and the likes. Now I would like to see what are the best ways people can come up with in regards to managing their money. I find creating a budget is one of the fundamentals of managing money. If you have no records, you can't know exactly how much money you have to spend each month. Another piece of advice I would like to give to people is to not use your credit card unless you're able to pay it off in full at the end of the week.

Any input?

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[Oriannaa]

The whole credit card thing is a double - edge sword.

It can work with you or against you depending on if you have some form of self control and whats actually needed.

For example if you are trying to get a advance to pay for something and you already have 80% of the cash being credited then it should be fine. But there are situations where people pull a cash advance and they cant pay in time which hurts them the most.

Also despite on credit cards - it just means that the user needs to re-negotiate the APR "annual per rate" adjusted to their customer service and see if the 20% can be dropped to 10% or something.

Doesnt hurt to ask? why not?

[Amph]

i like to have always a certain amount ready to resolve big problem or emergency, like 10 euro

the other can be spent at will for your needs, a portion of this i like to use it for investment if there are good investments to be made

[iram66680]

The whole credit card thing is a double - edge sword.

It can work with you or against you depending on if you have some form of self control and whats actually needed.

For example if you are trying to get a advance to pay for something and you already have 80% of the cash being credited then it should be fine. But there are situations where people pull a cash advance and they cant pay in time which hurts them the most.

Also despite on credit cards - it just means that the user needs to re-negotiate the APR "annual per rate" adjusted to their customer service and see if the 20% can be dropped to 10% or something.

Doesnt hurt to ask? why not?

This actually does work. Most people don't think of doing this and are just assuming that it does not work.
The media is actually telling people to call up their credit card company to ask for a better rate because the market is so competitive right now, they usually don't say no.. unless you are at your maximum limit on your card in the first place.

[nuevo]

Accounting, is an old proof of work/funds/trust and works at the personal level as well as the fortune 500 company level. But there might be one thing you left out of your thoughts on budgets, those that do them are a self selecting group. It's the same people who by parenting books, they're showing they care enough to put time and effort in so they're probably going to do a better job than those who show less motivation.

There is budgeting methods and apps and software so let me ask you this, why do you want to make and stick to a budget?

[hendra147]

This is my way to manage my money (just share my experience) :
-first my budget is $200 permonth ( I live in asia ) just for spend, not included invest/saving amount.
-i give $50 to my mom for cooking etc. Im still live with my family.
-use $50 for Fun shoping etc.
-use $30 for pay bill.
-use $80 for the purposes of the unexpected

Im use money lover to manage my money
link : https://play.google.com/store/apps/details?id=com.bookmark.money

anyway im single.

[The Sceptical Chymist]

I swore a vow of no credit cards about 15 years ago and I've never looked back.  Credit cards are trouble for me and they're one of the ways I manage my money.  I always say I'm going to save 6 months' worth of living expenses in case something happens (a damn good idea) but I never do.  Most of my money is in the stock market and only a tiny bit of it is in bitcoin.

[Arcteryx]

I swore a vow of no credit cards about 15 years ago and I've never looked back.  Credit cards are trouble for me and they're one of the ways I manage my money.  I always say I'm going to save 6 months' worth of living expenses in case something happens (a damn good idea) but I never do.  Most of my money is in the stock market and only a tiny bit of it is in bitcoin.

Why a vow off credit cards? A bad experience or you saw what they can do to someone as in destroy their lives if not handled correctly?

[romero121]

Budget won't give way to manage your money. If someone suggests budgeting is good to manage money, then understand that they're postponing some of their wishes.

[randy8777]

i know exactly what my expenses are. and i also know (more or less) how much i will spend on food and stuff. and a certain part of my salary goes directly to my savings account. as soon as my salary posts in my bank account i know (nearly) exactly how much free money i have to do some nice things with. and from that free money i use around $100 to buy some bitcoins with to store in my cold wallet. i have always been good with my money. i never had a debit card and will never signup for one. it's pure nonsense. people use it to spend money they don't have.

[vero]

Easier method, Using a small notebook to track your spending. List all must pay bills such as rent, utilities, car payments, insurance, food and transportation costs.

[pooya87]

i don't exactly keep a record on paper but i used to do it with an excell sheet before. now i just do a mental math to see how much my expenses are and what i am going to spend them on based on my past experience.

but for the start it is good to keep some sort of record of your expenses and earnings to see how well you performed at the end of the month.

[ASHLIUSZ]

the best money management way is to make a BUDGET. take a note on your expenses, pay some money into a savings account and then spent your money successfully...

[hawkins]

the best way to manage money is to give it to your wife, or your mother, then they will do a management that does not even you thought, the way I do it, because if I were to manage my money, so the money will soon run out 

[Kakmakr]

The best way to manage your money, is NOT to spend more than you earn. Some debt is good, if you buy assets that holds it value and if the payments is affordable and within your means to pay them. I have helped several people with their money problems, without having to have given them a cent of my own money. You just restructure the debt they have now and you learn them how to make better decisions and how to budget properly. The secret to proper money management is having a detailed budget at the start of every month. Keep track of your income and where it is going and you will be fine. ^smile^

[lrdeoliveira]

So I have seen a lot of topics relating to different methods of managing money ("How to earn Bitcoin, "How to save money") and the likes. Now I would like to see what are the best ways people can come up with in regards to managing their money. I find creating a budget is one of the fundamentals of managing money. If you have no records, you can't know exactly how much money you have to spend each month. Another piece of advice I would like to give to people is to not use your credit card unless you're able to pay it off in full at the end of the week.

Any input?

To manage well your money first of all you need  integrity, you must not be the kind of person who sends the life savings to the wallet of dice for example, second you need cold blood and not and not act on impulse. Third choose a goal and work hard to achieve it

[martinacar]

The whole credit card thing is a double - edge sword.

It can work with you or against you depending on if you have some form of self control and whats actually needed.

For example if you are trying to get a advance to pay for something and you already have 80% of the cash being credited then it should be fine. But there are situations where people pull a cash advance and they cant pay in time which hurts them the most.

Also despite on credit cards - it just means that the user needs to re-negotiate the APR "annual per rate" adjusted to their customer service and see if the 20% can be dropped to 10% or something.

Doesnt hurt to ask? why not?

This actually does work. Most people don't think of doing this and are just assuming that it does not work.
The media is actually telling people to call up their credit card company to ask for a better rate because the market is so competitive right now, they usually don't say no.. unless you are at your maximum limit on your card in the first place.

The best thing is that you also must save some money. I think that is the most important to do that.
So you will have later some money and that is very good. And you dont must spend a lot of money to gamble. Because that is very bad.

[Hirose UK]

So I have seen a lot of topics relating to different methods of managing money ("How to earn Bitcoin, "How to save money") and the likes. Now I would like to see what are the best ways people can come up with in regards to managing their money. I find creating a budget is one of the fundamentals of managing money. If you have no records, you can't know exactly how much money you have to spend each month. Another piece of advice I would like to give to people is to not use your credit card unless you're able to pay it off in full at the end of the week.

Any input?

I also did record how much money I spent, but I stop doing that now because I sometimes forget and then always forget.

One more best way to manage money is using the money to buy what you need, not what you want. make list of priority, kind of thing.

[bitbunnny]

How to manage money? Spend little and save a lot. It's not easy but in all other scenarios at the end you will be "moneyless".

[Slark]

Don't use credit card. Avoid living for a credit at all cost. Debt=slavery. If you don't need something very badly now and you can't afford it then it means it is not for you.
Wait month or two, save your money and buy your desired item then. The only drawback is that is not possible with real estate market and you will have lend money.