Cracking the Code of Saving Money...

[uswa56]

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 is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need.

In reducing expenses, we need to postpone many desires to be able to have them so that the money we earn can still be used to save and if we cannot reduce expenses for the desire to have something then the income we earn will not be able to meet the needs we need, however I think earning extra income is very difficult, but if we have free time then we can learn some skills that we like so that if we are experts in that field then we will get income from the skills we learn.

[1714749955]

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[1714749955]

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[Dave1]

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 is not really any kind of code or secret, if you want to save more money there are not many options you can use, since increasing your income is harder than reducing your expenses then it is preferable to concentrate on the latter than the former, and in order to reduce your expenses you really need to try to get the most out of every dollar, and this means using products of generic brands, reducing your luxuries to a minimum and sometimes even reducing your expenses on key areas for some time until you accumulate enough savings to buy or invest in what you need.

In reducing expenses, we need to postpone many desires to be able to have them so that the money we earn can still be used to save and if we cannot reduce expenses for the desire to have something then the income we earn will not be able to meet the needs we need, however I think earning extra income is very difficult, but if we have free time then we can learn some skills that we like so that if we are experts in that field then we will get income from the skills we learn.

Yes, and that's why it's really very difficult to some extend because majority of us are impulsive buyers, which means we didn't think about it, we just buy things that are in the end, we will not used it.

So we need to practice delayed gratification, just like what we are here in crypto. We save and HODL for years and then wait for the bull run to occur and then we sell and make profits out of it.

[Fara Chan]

This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.

Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.

[wallet4bitcoin]

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.)

So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.

[wallet4bitcoin]

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.)

So, I'll share directly my own experience and how it works for me. I have been in the business of spending money for things and I once thought to myself, I need to save for the rainy day, but then I still use these funds when its not even the rainy days. So, I had to re-strategise, I opened accounts for saving and investment, and also allocated percentages of income to save and invest, once I get an income, I distribute accordingly, to avoid the urge to spend after I might have been low on cash and I make sure not to visit these accounts as frequent as I do my normal miscellaneous accounts. This has saved me a great deal.

[poodle63]

This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.

Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.

I personally thinking that living frugally is honestly just trying to make your own life difficult, when we are having high income, we strive to get even higher income, that will allow us to enjoy the lifestyle we deserve while though also not indulging too much on luxury items but at least we've got something of quality in our life, after all nobody could guarantee that when we are living frugally, our life could reach until when we are hiting retirement age.
its always good to make the most of the current moment, not thinking too much about the future, so long we use our money wisely for the sake of betterment of our life.
not just keep on saving it mindlessly that we can't even live normally and need to live frugally. I don't think thats good idea.

[legendbtc]

This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.

Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.

I personally thinking that living frugally is honestly just trying to make your own life difficult, when we are having high income, we strive to get even higher income, that will allow us to enjoy the lifestyle we deserve while though also not indulging too much on luxury items but at least we've got something of quality in our life, after all nobody could guarantee that when we are living frugally, our life could reach until when we are hiting retirement age.
its always good to make the most of the current moment, not thinking too much about the future, so long we use our money wisely for the sake of betterment of our life.
not just keep on saving it mindlessly that we can't even live normally and need to live frugally. I don't think thats good idea.

We can only live once in life, so we should not be too wasteful but also never be too stingy with ourselves. This reminds me of a recent forum debate around investing in bitcoin or buying a new iPhone. I think it's funny for many people to think that if someone buys an iPhone 15 it's a waste and investing in bitcoin is realistic. They buy because of need, buy because they are enjoying life after hard working days, what's wrong with that? While investing in bitcoin, I believe that everyone will have their own plan. I am also planning to buy a new iphone for my wife, am I wrong in trying to bring good things to my loved ones? Meanwhile, the amount I invested in bitcoin was prepared and even huge because I believed in it.

[Betwrong]

You can't save money if you do it at the end, or use leftover money from your salary. If you want to save do it at the beginning, let's say cut 10% whenever you receive your income to a dedicated saving account. But this is under the assumption that your salary is enough for your basic needs. Otherwise, you'll end up with zero or even borrowing money, even when you already live frugally. Anyway, don't waste your time allocating your already small income (for those who need this advice), rather think more about how you get more money/income.

That's what I totally agree with. If you don't have enough money and you start saving from it, even from the beginning like you said, you'll make make your life miserable. And in that state it will be hard for you to work more, or work smarter, or to even think of more effective ways to make money.

[pinggoki]

Try living the life of not having a lot of possessions, remember that TV show where Marie Kondo does home makeovers and there's a method there that I forgot the name of where you can only keep three things on your house and the rest has to go, I think that it's a good guideline as to how you can minimize your spending in a world that's infested with capitalist consumerism. If you really can't do that kind of thing which is extreme, try to postpone buying that thing that you've been saving for a long time, wait for 30 days or so and do some self-talk about whether you should buy it. Or if you are smart enough and know yourself that you're not afraid of your reflection then just ask yourself if you really need it or you just want that thing, if it falls under need then go for it but if not then you got to let go of the temptation to buy that stuff.

[0t3p0t]

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.

[Smack That Ace]

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.

Did you follow that advice and are you rich? That's pretty good advice, but don't apply it rigidly. Instead, you should have strategies and plans that suit your economic conditions. Investing is a way for us to make more money, but don't forget the risks it can bring you. Not to mention that life is full of surprises, so you need to have savings and a job with a stable income before thinking about investing. What will happen to you if your investments lose money, you don't have a stable job, and you have no savings? Think about that before investing.

[Aanuoluwatofunmi]

This is absolutely true and I am the one who has experienced it. Many people claim that even if they had a higher income they would still live as frugally as if they were not earning as much money. But no one will be able to do that because that is our goal, we try to work and earn more money to have a better life. So it's impossible that when we're rich, we can still be as frugal as when we're in trouble. The greater your income, the more you will spend and that is also called spending in accordance with your income.

Most of the people I see around me are like that too, they will continue to adjust their lifestyle to the level of income they get each month, so it is already a fact that everyone will use money according to the level of income they get. Meanwhile, when it comes to saving money, each person will also set it themselves according to their own tastes through the amount they want to save because it is also impossible after trying not to use a little bit for things that we have long dreamed of or wanted for a better change in life.

We should save according to the level of our income, what we should try to avoid is the way we behave when we are having enough opportunities to make savings and yet but utilizing it for nothing, there are times we will be in best position of making money and having earnings enough to have savings, yet some may not do that because they feels it's something they can always get as ever before with the way to the flow of their income, but things aren't like that, there are smooth times and challenging times as well from the flow of income.

[Ndabagi01]

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.)

In a society that encourages spending money, it is quite simple to solve this issue. First and foremost, you must have decided to try to restrict how much money you spend; this should be the beginning point. Second, make a list of what you want and when you want it, and then prioritise them. The second step is to take some money from where you earn it, either weekly or monthly, and buy the ones you need the most in such a way that it does not interfere with your regular daily expenses when their need comes. If you keep doing this, you'll be able to accomplish a lot more on your list over time. Now, take your mind off spending anyhow you like, because anytime you get attracted to that, you’ll go back to your normal ways again.

[panganib999]

Here's the only surefire way you can save money in this day and age:

Allocate money for saving beforehand!

If you're going to save money, don't do the old-fashioned tactic of "saving what's left of my pay", trust me when I say that there won't be anything left of your pay, and the best way you can save money really is through preparing the money before it even reaches your hand. You also have to be prudent and disciplined, create a bank account with a time lock so you couldn't open the money no matter what. And set up a monthly schedule of when you'll be depositing the money. Do all of this accordingly and I'd bet you my bottom dollar that you'd always be able to save money no matter what.

[komisariatku]

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.)

In my opinion, there are two things that make us wasteful and like to waste money, the first is because of an excessive lifestyle and the second is because of our appetite. I once received advice that we should not increase our appetite excessively because it will make us feel that ordinary food is no longer delicious and as a result we will often eat at restaurants. Then when we have adopted a hedonistic lifestyle, especially if we feel jealous because other people have luxury, it will make us willing to do anything for the sake of luxury by living a hedonistic life, that is not a good choice, especially if we are not financially capable of doing so.

It's better for us to live simply and not worry if our neighbors or other people are lucky in terms of money. Being grateful for what we have is the best way I know

[poodle63]

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.

truly rich people just gonna start out another company that gonna generates them billions, investing money isn't as easy as it might seem and investing with low amount of money more likely to give small results which also means you are wasting your time compared with investing with hundred of millions.
this is why sometime investing is not really suitable for those that only have small capital because lets be frank small money only good if there's many investors, basically retail investors, investing all at once.
it only matters when the money gathered become millions.
meanwhile the big investors people like the big investment company and venture capital will definitely invest about millions or more.

[Latviand]

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. 

Another tip that can help you when you are strolling on the mall, is to not go there hungry that's going to cut your spending in there because even if the food is attracting, you're not going to give in because you have a full belly. Your 2nd advice has been my thing ever since I was in highschool, don't get caught in the race towards having all the stuff in the world because the things that you own and plan to own is going to end up owning you eventually.

[KiaKia]

Sounds like a lack of discipline to me because how can you be tempted to spend your money on things that aren't that important to you? We all have dreams and desires but to make living easier we cut down our expectations and buy things we can only affords, depending on the situation of the person.

I don't find it hard to save money because I do calculation on how much I am spending per week and whatever is left is where I take some savings and investment percentages from.

You don't have to save a lot of money at once, you should do it gradually, just like how you invest in Bitcoin using DCA.

[TimeTeller]

Sounds like a lack of discipline to me because how can you be tempted to spend your money on things that aren't that important to you? We all have dreams and desires but to make living easier we cut down our expectations and buy things we can only affords, depending on the situation of the person.

I don't find it hard to save money because I do calculation on how much I am spending per week and whatever is left is where I take some savings and investment percentages from.

You don't have to save a lot of money at once, you should do it gradually, just like how you invest in Bitcoin using DCA.

If you know where you are spending your money, you can check those items if they are indeed necessary or not.
You need to remind yourself why you are saving money and that will give you motivation to keep track your savings.
That is true, no matter how much you can save, when those savings accumulate, would be significant already.
What I am doing is list all the basic necessities/bills first, and see where I can save some, and when it comes to food expenses, you need to weigh your choices if you will be frugal about your menu choices or not.

[Mauser]

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 two ways to save money, either cut down your expenses so you don't spend all your salary each month, or increase your income by finding a side business. It's hard to give general advice without knowing more about the situation someone is in. For example, maybe you are helping your family out because a family member is sick or your wife is pregnant and will have to look after the kids. There are many situations where even if we really want to it's going hard to save any additional money. The best approach here for me is to write down any expenses I have each month and try to find unnecessary items that I can reduce. It's a bit difficult to write even the smallest purchase during the middle of the day, but with an excel sheet on my phone I can make small entries all the time and put in a better order during the weekend. The other approach when we can't save money by reducing our expenses is to get additional income, like a part time job on the weekends or starting a new hobby that brings in some money like trading and investing. One good side hustle that helped me earn some money is to sell old things on eBay. I managed to clean out the basement for my parents, my grandmother and my own basement to find a lot of things that nobody is using anymore and that still have value. It's quite time consuming to take photos, put it online and pack&ship the things around. But once you accumulate some profits and start investing them, they will start to grow quickly.