Best way to manage money?

[daringdiscovered]

Its not easy to manage money specialy for students like me.But if youre a wise person it would be easy for you to manage your money.My advice is just always save some part of your money and dont waste money on things that is not needed or not important

As a student you should already start managing you money because when you cannot manage with small amount of money how much for if you are holding a huge amount of money. Learn to manage from small things to be trusted in the big things.

when we are young and have a lot of money, sometimes difficult to manage finances, because usually they always want to spend to have fun with friends and spending whatever they want. therefore we must learn to live frugally and simple, to manage our finances.

It still depends on a person. I am also a student but i don't think managing money is difficult. I even have some savings from my allowance. I still spend some money to have fun with my friends but not all of it. Before spending I consider first what is more important. But my sister is very opposite of me she is very outgoing and spends all her money on what she sees to others.

[phreaky]

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?

Saving money is harder then it looks and it also depends allot on how much money you make to be honest. To not spend more money then what you are supposed to because that is the mistake what most people make if they actually need to save money.

[Lokfar]

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?

Saving money is harder then it looks and it also depends allot on how much money you make to be honest. To not spend more money then what you are supposed to because that is the mistake what most people make if they actually need to save money.

You have to make an investment if you want to earn money later in the future but saving money is also important so you have always money for later and that is nice.
But patience is important if you are making an investment because you have to sell it on the right moment.

[carlisle1]

You don't have to limit yourself; just get an idea of what you spend money on during any given month. Save all your receipts, make note of how much cash you need versus how much you expense to credit cards, and figure out how much money you have left over when the calendar turns.

[ardentvolcanoes]

you can build a budget to plan your spending, limit over-spending and make sure that you put money away in an emergency savings fund. Remember to include expenses that happen regularly, but not every month, like car maintenance check-ups, if ever you have a car . 

[fearlesscat10]

You don't have to limit yourself; just get an idea of what you spend money on during any given month. Save all your receipts, make note of how much cash you need versus how much you expense to credit cards, and figure out how much money you have left over when the calendar turns.

I disagree. We'd all be broke if we don't limit ourselves. What I do usually is whenever I get money, I divide it accordingly.

10% Emergency Fund - This is for the months when you're out of work or you just don't have a source of income. Also for hospitalizations and such.
10% Contingency Fund - This is for mundane things like your car breaking down or your house needs repair.
10% Investment Fund - This I usually divide among bitcoin and my other investments.

70% Regular Expenses

This generally makes me think twice about getting a frappucino or generally "just for leisure" expenses.

[jiefes]

 
I think the first mandatory requirement is at least to count the money. Alas! I've seen "investors" who have had luck then many quickly they were sinking because of a lack on self-discipline.

[Maslate]

I think the first mandatory requirement is at least to count the money. Alas! I've seen "investors" who have had luck then many quickly they were sinking because of a lack on self-discipline.

I think that is not necessary to say anymore because that is too basic to know how much you are holding, even a kid knows how much money he has. Secondly, I agree that self discipline is very important because without it even if you have a good money management plan you cannot still implement it.

[goldcoinminer]

I think the first mandatory requirement is at least to count the money. Alas! I've seen "investors" who have had luck then many quickly they were sinking because of a lack on self-discipline.

I think that is not necessary to say anymore because that is too basic to know how much you are holding, even a kid knows how much money he has. Secondly, I agree that self discipline is very important because without it even if you have a good money management plan you cannot still implement it.

The best way to manage your money is to know you goal in life, knowing your future plans and your priorities will give you a clear path on managing your money. Further, you cannot achieve your goal if you will not do it diligently.

[AlgoSwan]

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?

Managing money means trading and/or managing risk: I hope you experience everything that I have — all the pain, the glory, the money, the broken dreams, the unexpected joy, all of it. I don’t think you will ever become a lasting success at anything, certainly not trading, until you do. The markets are the absolute best place to find what you are looking for. If you truly and completely desire to become what you could be, very few places will give you such a perfect and lasting opportunity to do so. It took me a long time to accept the lessons market offered me. But, I suspect most people won’t learn anything and will continue to do it the hard way. That is the razor’s edge. It takes a lot of effort to swing a dull axe. Be wise and sharpen the blade.

[HCLivess]

My advice: create your own currency

[Schuyler]

Live below your means. There are people who just can't save money even if they are making more every year. Even if they get salary increases every year, they seem to adjust their expenses. That is called lifestyle creep. Sometimes some people tend to spend more than their salary and would continue to do so until such time that their salaries can't keep up with their style of living.

[Xenophoto]

Best way to manage money is to write down all your expenses in a notebook. Every penny that you spend should go down to that list. You'll realize how much money you're wasting if you do this. And also, try to think that you aren't rich to spend tons of money. Get out from the illusion that you can afford things because in reality, you can't afford those things. Just spend your money onto your needs and set aside your wants. Invest what you saved into something. Once you're rich, you can finally buy the things that you wanted before.

[kingsart]

Best way to manage money is to write down all your expenses in a notebook. Every penny that you spend should go down to that list. You'll realize how much money you're wasting if you do this. And also, try to think that you aren't rich to spend tons of money. Get out from the illusion that you can afford things because in reality, you can't afford those things. Just spend your money onto your needs and set aside your wants. Invest what you saved into something. Once you're rich, you can finally buy the things that you wanted before.

Wow very nice idea.
And if you are earning in bitcoins then my advice is that create a timelock bitcoin wallet and then start depositing your savings into that wallet, by this you will be having a continously growing bitcoin balance with you and you will be rich.

[Maslate]

Best way to manage money is to write down all your expenses in a notebook. Every penny that you spend should go down to that list. You'll realize how much money you're wasting if you do this. And also, try to think that you aren't rich to spend tons of money. Get out from the illusion that you can afford things because in reality, you can't afford those things. Just spend your money onto your needs and set aside your wants. Invest what you saved into something. Once you're rich, you can finally buy the things that you wanted before.

Wow very nice idea.
And if you are earning in bitcoins then my advice is that create a timelock bitcoin wallet and then start depositing your savings into that wallet, by this you will be having a continously growing bitcoin balance with you and you will be rich.

That is the best idea so far but people cannot follow that due to lack of discipline, saving and investing are the same here in the crypto world so we just follow that, however due to gambling some destroyed their money management.

[sishendaoye]

Best way to manage money is by making sure that you not give out to much money, make sure that you only give out a certain percentage of your income per week. \
Do not cross that limit if you do then you will have less money to spend the week after that, this is how I do it.

[mammamiya471]

Best way to manage money is budget it once you receive it. don't wish for expensive things that you don't need.

[EastSound]

Best way to manage money is budget it once you receive it. don't wish for expensive things that you don't need.

That is right. I do not buy thing I do not need now. But I buy the bitcoin and will use it in a few years.

[Crazygreek]

Best way to manage money is give this work for people who know how to do this or if you are can manage this solo better to try, for me is much better not to try

[bamboylee]

Best way to manage money is give this work for people who know how to do this or if you are can manage this solo better to try, for me is much better not to try

You have to do it on your own if you are just an average person. You cannot afford a financial manager if you are just getting salary. Hire a financial manager if you own a business and that business is doing well. Otherwise, learn how to control your cashflow by your own. It is better if you do it so that you know where to tighten budgets and where to increase it.