Cracking the Code of Saving Money...

[bitnote]

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.)

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[Churchillvv]

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..

[TheUltraElite]

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.

[jrrsparkles]

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.)

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.

[Majestic-milf]

 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.

[Abu-Naim]

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.

[YUriy1991]

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.)

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.
      

[Kakmakr]

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. 

[CageMabok]

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.

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.

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.)

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.

[Betwrong]

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.)

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.

[Despairo]

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.

[lizarder]

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.

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.

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.)

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.

[Text]

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.

[Gaza13]

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

[Peanutswar]

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.

[Juse14]

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.)

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.

[Sanitough]

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.

[mindrust]

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.

[Don Pedro Dinero]

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.

[Faisal2202]

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.)

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.