Cracking the Code of Saving Money...

[Obari]

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

[Gozie51]

How do you manage to save in a world that encourages spending? Let's talk about it.

Every human will want to get even things they don't need immediately but will be useful in the future, so try to buy what you need at the moment and anything that you buy that is not in immediately use is as if you have wasted the money because such money would have been used to get the needful. Therefore avoiding wasteful spending is one way to be prudent.

Another way to save is to invest. This is magical in the way it works because when you don't only keep you money redundant but you make it work for more money then it means you are growing your savings rate to come from different angles. Investment increases your savings level because you generate money to be saved from different directions.

[Fortify]

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.)

The biggest challenge for most people with saving money is firstly, having enough spare money (that isn't being wasted on frivolous items) left over from your salary and then getting in to the mindset that you do not need to spend all of your available spare money that sits in your bank account. Some people, at least when they're younger have the wrong mentality when it comes to money, but it's not really their fault as society will often condition you into this spending culture. It's like anything in life, having the discipline and willpower is often the hardest thing to achieve early on when you choose to follow a new method. The results don't always become apparently until months or even years later, so breaking that barrier can be hard.

[Baofeng]

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

Yes, and that's why it's very important to really save for the rainy days, as the saying goes. And from the books that I read, at least 6 months of buffer, but I don't think that anyone can save that big though if you are in a tight end. So for me, there should be no numbers, as long as you can save enough then that is good enough. Otherwise, if you target some numbers and missed them, then it could have a effect on you mentally. So just stick to what you can.

And I don't think their is like or code to crack, we've been taught to save and invest and that what we should do specially if we are still very young or just started your life like having your first job. So just put aside some money after the paycheck that you can afford. So it's going to be hard grind for you, but if you master it, then you have crack the code already. And then later on you might invest or have a business and then money is going to flow.

[Quidat]

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.)

The biggest challenge for most people with saving money is firstly, having enough spare money (that isn't being wasted on frivolous items) left over from your salary and then getting in to the mindset that you do not need to spend all of your available spare money that sits in your bank account. Some people, at least when they're younger have the wrong mentality when it comes to money, but it's not really their fault as society will often condition you into this spending culture. It's like anything in life, having the discipline and willpower is often the hardest thing to achieve early on when you choose to follow a new method. The results don't always become apparently until months or even years later, so breaking that barrier can be hard.

Very normal behavior of most people on which on  the time that we are seeing that we do still have money left in our pocket or bank then we would really be definitely be finding ways on spending it out even if it means on splurging it out on something useless things and on the time that emergency comes then this is the only time you would really be making out some realizations that savings is really that relevant or something that would really be important. You wont really be that able to make such thing until unfortunate things do happen. You would really be that needing to experience it first before you would be careful in next time.Tons of situations on which you might be able to save up but due to not focused into things just because you arent experiencing difficulties then it would really be just that normal that we would really be forgetting on things on what must be done.

There's no need to crack some code or critical thinking because you would really be just simply needing that common sense that you would really be needing some back up funds or savings
when emergency things do happen then you are prepared and not really ending up on having that getting some loan just because you dont have money.
This is the main problem that you would encounter if you dont have savings.

[Negotiation]

Part of saving money is setting a budget and separating everything. There will be times in your life where you have to spend some unnecessary money on friends and family. The best way to stick to your goals is to avoid such situations understanding these types of expenses will increase your savings. So control unnecessary expenses with frugal attitude saving is an important habit for many reasons as it helps you manage financial stress to cover future expenses and plan for vacations. Understanding the different qualities of savings can motivate you to save more. Can help keep you on track by avoiding unnecessary spending achieving financial goals and increasing your savings.

[tjtonmoy]

I have tried saving money many times and I failed. I am still struggling with it but recently I have come up with the plan that is working pretty well for me. You see, I have a girlfriend and whatever I earn I have a fixed amount of money that I put into an account that she has. Only I have access to that account so only I can withdraw or use that money. But that account could only be open with the help of my girlfriend. (I know many will say that she's not your wife yet so why would you give her the access? I have all the needed documents to recover that account at any time and that will not require her presence.) All that aside, I trust her and she keeps my money safe. I have told her to never let me use that money that I am using as a saving.
So she does exactly what I told her.

If you are a person who are unable to control their spending, then involve someone that can help you achieve that. Could be your family could be your loved ones or could be your friend. Whoever it is make sure they help you in this case. I know I can't do it alone so it's not a bad thing to take help from others.

[lixer]

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

It's actually not difficult to save some money for those who earn a reasonable amount of money every month because their expenses would generally be lower than how much they earn which allows them to actually have some money left at the end of the month unless they deliberately spend it all on things that aren't really necessary. Such people don't face problems with savings or their personal expenses and they can easily save some money for emergency situations.

However, when we talk about someone who barely earns a minimum wage, such a person would barely be able to save anything because they hardly manage to fulfill their monthly expenses with the money they earn. No matter how much they try to reduce their expenses, they won't have anything left at the end of the month.

[serjent05]

Saving money is not a complex thing that needs cracking to get a code to save money.  It is not a space science after all.  What it needs is discipline and the attitude of being thrifty.  If one really wants to save money, he can always set aside some percentage of his income and start budgeting after he set aside the money for saving.  People are flexible, they can adjust their means of spending according to the available funds in hand.  So saving money is really easy if one only desires it.

[barisbilgili]

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

It's actually not difficult to save some money for those who earn a reasonable amount of money every month because their expenses would generally be lower than how much they earn which allows them to actually have some money left at the end of the month unless they deliberately spend it all on things that aren't really necessary. Such people don't face problems with savings or their personal expenses and they can easily save some money for emergency situations.

However, when we talk about someone who barely earns a minimum wage, such a person would barely be able to save anything because they hardly manage to fulfill their monthly expenses with the money they earn. No matter how much they try to reduce their expenses, they won't have anything left at the end of the month.

Saving is indeed easy for those who have a fixed income and manage their monthly expenses well. If we can manage our expenses well then whatever income we have, it certainly won't be difficult for us to be able to save because we have managed well the needs we need and If we have a lot of income and we can't save, of course there is something wrong in managing the money we have, so it needs to be corrected to be able to manage the expenses we have so that we can save the money we have for emergency needs.

[Linggajanitra]

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.)

There are several tips I can give you...
1. You can record income & expenses. Why ? By recording income and expenses, we can more easily track our monthly finances. We can see what expenses exceed the target and it can be a reminder for us to spend money.
2. Pay attention to expenses that you think are small. Why ? It could be that if combined in one month, the amount spent on small items could be worth more than expensive items. Because usually we may not realize these small expenses and think they are easy, even though if we calculate them over a period of 1 month it could be the same as spending on one expensive item.
3. Don't shop for prestige. Why ? It would be better if we could use it to increase our savings and buy things we really need. Not because it's trendy, let alone because of prestige. We need to realize that developments in trends and prestige will never stop if we continue to follow them.
4. Make a priority list of needs. Starting from those that are very urgent to those that can still be postponed to be fulfilled. By creating a priority scale we can more easily manage expenses. Apart from that, we can also learn to be more frugal and organized.
5. Set future targets. One effective way to manage finances is to set targets for the future. For example, when you are 30 years old you want to have your own vehicle, when you are 35 years old you have your own house, and so on. By setting a target, it means we are ready to start and carry it out. Don't let the target just become a discourse. By having a target we are also required to be able to make a plan so that the target can be achieved.
6. Save. If you want the money in your savings to grow quickly, make a savings target and immediately set aside the money at the beginning of the month. If necessary, create your own savings account that is different from the account you usually use every day.
7. Try investing. Investing does have a lot of risks. However, from this big risk there is also the potential for big profits if done correctly. In order to invest well, we also have to learn and practice to be able to make the right strategy in investing. The first thing you can do is find out what type of investment is suitable. Next, look for as much information as possible about the investment you choose according to your financial situation. The important thing is not to interfere with other expenses.

[DanWalker]

Saving money is not a complex thing that needs cracking to get a code to save money.  It is not a space science after all.  What it needs is discipline and the attitude of being thrifty.  If one really wants to save money, he can always set aside some percentage of his income and start budgeting after he set aside the money for saving.  People are flexible, they can adjust their means of spending according to the available funds in hand.  So saving money is really easy if one only desires it.

I agree, saving is not too difficult if we are determined to do it. Saving means avoiding spending on unnecessary things, avoiding waste, and depending on our spending needs each month, we save flexibly and not too stereotypically, things will never be too hard. Only people who lack determination think that saving is a space science. But to have a better life, we need to focus on increasing our income and not just focus too much on saving, that will not help us get better.

[topbitcoin]

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.)

What is known as temptation knows no place and time, especially when we are holding relatively large amounts of money and that's where our patience is tested and we often become careless and shop not in accordance with what was previously planned and often also what happens. needs are missed.
But here I don't quite understand what you are saying, namely about "unexpected bills that pop up" and how is it possible that we don't remember all the bills or installments that we have and do we forget to record them...? and perhaps this is where recording or bookkeeping is needed for all forms of personal expenses and income, as well as bills or installments that we have so that everything becomes more manageable and expenses become clearer.

In terms of saving, we don't need to save large amounts and all we have to do is be consistent and consistently save 10% of our income every week, so that you are ready to dedicate that amount of money. because it's useless if we save large amounts, but after only a few months of saving, you take back those savings because there is something you want to buy.

[Xcode7]

There are several tips I can give you...
1. You can record income & expenses. Why ? By recording income and expenses, we can more easily track our monthly finances. We can see what expenses exceed the target and it can be a reminder for us to spend money.
2. Pay attention to expenses that you think are small. Why ? It could be that if combined in one month, the amount spent on small items could be worth more than expensive items. Because usually we may not realize these small expenses and think they are easy, even though if we calculate them over a period of 1 month it could be the same as spending on one expensive item.
3. Don't shop for prestige. Why ? It would be better if we could use it to increase our savings and buy things we really need. Not because it's trendy, let alone because of prestige. We need to realize that developments in trends and prestige will never stop if we continue to follow them.
4. Make a priority list of needs. Starting from those that are very urgent to those that can still be postponed to be fulfilled. By creating a priority scale we can more easily manage expenses. Apart from that, we can also learn to be more frugal and organized.
5. Set future targets. One effective way to manage finances is to set targets for the future. For example, when you are 30 years old you want to have your own vehicle, when you are 35 years old you have your own house, and so on. By setting a target, it means we are ready to start and carry it out. Don't let the target just become a discourse. By having a target we are also required to be able to make a plan so that the target can be achieved.
6. Save. If you want the money in your savings to grow quickly, make a savings target and immediately set aside the money at the beginning of the month. If necessary, create your own savings account that is different from the account you usually use every day.
7. Try investing. Investing does have a lot of risks. However, from this big risk there is also the potential for big profits if done correctly. In order to invest well, we also have to learn and practice to be able to make the right strategy in investing. The first thing you can do is find out what type of investment is suitable. Next, look for as much information as possible about the investment you choose according to your financial situation. The important thing is not to interfere with other expenses.

This is very interesting, I might have done the 7 things you said, but not long after that I made the mistake of not consistently applying these things in my life so that my financial management was messed up again, but all of that happened because I had a lot of dependents so I felt very sad. I have a lot of urgent needs that I have to take care of (actually this is a bit of an excuse to defend myself)

Honestly, I really like this discussion because there is a great desire to be able to save money because it is very important for the future, but for some reason, there are a lot of things in theory, but it is quite difficult to carry out.

[milewilda]

There are several tips I can give you...
1. You can record income & expenses. Why ? By recording income and expenses, we can more easily track our monthly finances. We can see what expenses exceed the target and it can be a reminder for us to spend money.
2. Pay attention to expenses that you think are small. Why ? It could be that if combined in one month, the amount spent on small items could be worth more than expensive items. Because usually we may not realize these small expenses and think they are easy, even though if we calculate them over a period of 1 month it could be the same as spending on one expensive item.
3. Don't shop for prestige. Why ? It would be better if we could use it to increase our savings and buy things we really need. Not because it's trendy, let alone because of prestige. We need to realize that developments in trends and prestige will never stop if we continue to follow them.
4. Make a priority list of needs. Starting from those that are very urgent to those that can still be postponed to be fulfilled. By creating a priority scale we can more easily manage expenses. Apart from that, we can also learn to be more frugal and organized.
5. Set future targets. One effective way to manage finances is to set targets for the future. For example, when you are 30 years old you want to have your own vehicle, when you are 35 years old you have your own house, and so on. By setting a target, it means we are ready to start and carry it out. Don't let the target just become a discourse. By having a target we are also required to be able to make a plan so that the target can be achieved.
6. Save. If you want the money in your savings to grow quickly, make a savings target and immediately set aside the money at the beginning of the month. If necessary, create your own savings account that is different from the account you usually use every day.
7. Try investing. Investing does have a lot of risks. However, from this big risk there is also the potential for big profits if done correctly. In order to invest well, we also have to learn and practice to be able to make the right strategy in investing. The first thing you can do is find out what type of investment is suitable. Next, look for as much information as possible about the investment you choose according to your financial situation. The important thing is not to interfere with other expenses.

This is very interesting, I might have done the 7 things you said, but not long after that I made the mistake of not consistently applying these things in my life so that my financial management was messed up again, but all of that happened because I had a lot of dependents so I felt very sad. I have a lot of urgent needs that I have to take care of (actually this is a bit of an excuse to defend myself)

Honestly, I really like this discussion because there is a great desire to be able to save money because it is very important for the future, but for some reason, there are a lot of things in theory, but it is quite difficult to carry out.

Totally really hard to apply specially if you are just only the breadwinner on such family, or shall we say its even on extended family on which there are lots of responsibilities that you would really be needing to patch up on which there's no way that you could really be making yourself that in good situation yet you wont really be able to make savings or doesnt have the chance on doing so due to those expenses on which it would really be just that a normal approach. It is really just that there are really things in life on which giving out some advises would really be that easy or simply but actually it is really hard to be done due to some circumstances on which you cant really just easily leave out or neglect or getting ignored. You arent that blind on not to see on what are the imposed risks if you have just simply followed on what you do have in mind or for the sake of savings.

Family comes first and this is the most important thing in the world but there are really times or moments on which you would really be having those realizations that you should really be giving out
some priority for yourself and with your family and not putting up that much concern in other people but since we dont really have no choice then we do really
ending up on having plans but not really being materialized.

[Ryu_Ar1]

Savings isn’t something that should put us in very tight corners but what really matters is that we have a way to always sustain and make ends meet. There are always unexpected expenses that comes when we least expected and most times these expenses are always pressing and We can’t ignore them when they arise and your savings culture also depends on how much we earn and for those who earn something reasonable enough for savings, should always set aside a budget for miscellaneous expenses as they will always come and are always difficult to ignore.

It's actually not difficult to save some money for those who earn a reasonable amount of money every month because their expenses would generally be lower than how much they earn which allows them to actually have some money left at the end of the month unless they deliberately spend it all on things that aren't really necessary. Such people don't face problems with savings or their personal expenses and they can easily save some money for emergency situations.

However, when we talk about someone who barely earns a minimum wage, such a person would barely be able to save anything because they hardly manage to fulfill their monthly expenses with the money they earn. No matter how much they try to reduce their expenses, they won't have anything left at the end of the month.

As long as we can manage our finances well and have a steady income from the work we do every month, things like this will not be too difficult, especially if the income is at the standard that is set to support our needs.

The problem in this case is that often we always expect something more so that we will continue to feel less when we get a fixed income every month which in the end this backfires on ourselves because we cannot save.
What I always feel is that when we have a fixed income every month and when it is above average then our lifestyle changes because indirectly we become someone who is hedonistic (although not all like this but on average it always happens) which makes no matter how much income we have sometimes always smaller than the expenses we do.

[mvdheuvel1983]

It is not easy to save money in a very harsh economic situation. However it is very possible that you can still save some money no matter how little which is. I tell people who care to listen that if they take stock of their expenses their things that they can cut down on and save money from them. Home made food my be cheaper than eating out. Therefore you can cut down on it and save money from eating out. At least when you cook your own food, you do not tip anyone. You can also brew your own coffee as opposed to buying from Starbucks. You could do a garage sale and sell off some old items that you no longer need that occupies space in your apartment. You could also try flipping stuff too. These are some ways get money to save that I have tried and they worked for me.

[el kaka22]

For me, it has always been putting some part of your money aside and consider that as not part of your salary. Lets say you are making 1200 dollars a month, saving 100 dollars of it aside, and consider yourself getting paid 1100 dollars a month is the way to go. In that situation, you would be able to say "I do not have anymore money to spend" whereas you actually do, that extra 100 dollars, but you have to consider that gone as well. Put that in bitcoin, keep doing that every month, you get 1200 dollars a year, sure it is not a lot but you just made one more salary, and with bitcoin rising time to time, you are making a good income. In ten years that's 12k dollars with even just 10x, and that's something bitcoin could easily do, that's 120k, and you could potentially buy 2 houses with it, sure maybe some debt, but you could do it.

Houses here go for about 80k to 100k, so if you get 120k, you could spend 60k on each of the houses, and have about maybe like 50k-60k debt left, and you could finance that for 20 years, and pay it easily. You just bought 2 houses in 10 years, see how easy it is? Just saved 100 dollars a month.

[Dickiy]

It is not easy to save money in a very harsh economic situation. However it is very possible that you can still save some money no matter how little which is. I tell people who care to listen that if they take stock of their expenses their things that they can cut down on and save money from them. Home made food my be cheaper than eating out. Therefore you can cut down on it and save money from eating out. At least when you cook your own food, you do not tip anyone. You can also brew your own coffee as opposed to buying from Starbucks. You could do a garage sale and sell off some old items that you no longer need that occupies space in your apartment. You could also try flipping stuff too. These are some ways get money to save that I have tried and they worked for me.

Of course it is very difficult, and also maybe a little impossible if we have to save money in the midst of a difficult economy in the sense that their income is far from enough, there is no other way but they look for other part-time jobs to increase their income and also to balance with their basic needs. It seems like you are making assumptions by looking at only one side of the equation, and I conclude that you are allocating this statement to those in the middle class. I think you should divide your assumptions evenly by providing a comprehensive solution. But it's okay if you only provide solutions for those in the middle class.

Basically we have to look from various sides about the difficulties experienced by the community of course also from some of the middle to lower classes, look at those whose income is far from enough, in my opinion they will not at all think of going to buy coffee to Starbucks and brewing coffee at home for one of the solutions to save, but what if the reality is that they absolutely cannot buy coffee to enjoy at home? And also what if they never eat out at restaurants but still their income is still not enough to make ends meet? for people who are really in a difficult position will not think about things like that and it is a matter of survival in difficult conditions. And I think the solution is quite even for them besides saving by not buying something that is not needed on the other hand they should also be able to utilize something they have, for example if they have a large enough yard behind the house then they can start to grow vegetables for later consumption themselves, and also in addition they also need to find some other additional jobs to increase income.

If they have been able to get through such conditions by applying all means to stay frugal and also to survive then next if their finances have improved a little by getting some part-time jobs for example then yes there they can at least allocate a little money to enjoy a delicious meal with a cup of Starbucks coffee.

[Betwrong]

Billionaires have said poor people save money while rich people invest their money. Well, from that point of view we can clearly see differences and it's possible outcome. Saving money is much better than wasting it but investing it to something that will gave us more than the amount we save is the best and wisest choice.

But in many cases investing is wasting. Especially investing in something that seemingly will provide you with high yield. I wouldn't encourage people to invest instead of just saving. Those billionaires you've mentioned in the beginning they usually lose millions on the wrong investments before finding something profitable. Regular people can't afford that.