Cracking the Code of Saving Money...

[Kemarit]

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.

I would prefer the latter though, and only if everyone's mindset will be different, we should all look for a side hustle or even a business if we have save enough money and take that big risk. And as we mature, we understand that working a regular 9-5 desk job is not the way to make our selves rich. We really need to be the boss and that we could only accomplished that if we become entrepreneur.

For saving money there's a lot of ways, but what we will do on those money that we have save? We can't just put in in banks and expects that it will earn passively. That's why business could be the way for us, or simply investing here, in crypto. But then again, we should really learn to diversify as well to really grow our portfolio and learn how we can make more money.

[1714708635]

1714708635

[NotATether]

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.)

Rule number 1: Resist the urge to buy stuff!

Only buy things that are absolutely necessary, and also live below your means (because if you don't do that, then it means you're not saving anything for a rainy day).

No program, no routine, no book can help you do this better, it must come from within yourself.

Rule number 2: There is no rule number 2.

[slapper]

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.

In regards to financial matters, strategy, strategy, strategy is everything. You have mastered the two most important methods for saving money: reducing expenditures and increasing income. In addition to Finance 101, this is about human nature. Although every individual is confronted with adversity, life does not always afford us breaks. Sick relatives and newborns present formidable obstacles, formidable challenges indeed

Keeping track of expenses? It functions and is a classic move. Which Excel document is on your phone? It potentially alters the course of events. It is about awareness and having authority. And if it is impossible to reduce oneself, one must pivot. You discover methods to increase your earnings. eBay? It is a goldmine for those who understand its application. Not only is it crucial to sell, but also to comprehend value and demand. It is labor, but it is worthwhile labor. Invest, actively participate, and observe the surge in profits that ensue. Then, then? Continue to invest heavily. Put that money to the same effort that you do

[Youngkhngdiddy]

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.

 It’s also important to splurge on yourself from time to time, give yourself that special treat too, buy that nice wrist watch or take that vacation you always wanted so bad. Splurging yourself doesn’t mean your spending money irresponsible but it gives  this sign of satisfaction and the feeling of wanting more. Having savings is important as well for without savings how do we intend to survive the rainy days. But in other to have a proper savings plan, you need to have a multiple streams of income to achieve that and even when you don’t have that streams of income coming yet, this is when scale of preference becomes important.
  In this life one just need to be wise with his dealing, know when to spend and when to stay quite. You can’t start  spending lavishly when you’re on a monthly salary that’s is below the average minimum wage that’s is unwise. We have people who don’t know how to manage money, they have no budget or savings plan and this is a problem if  not properly looked into. Saving money has a lot of benefits and advantages as we all know, especially when time of emergency comes one can know how to tackle them.

[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.

[slapper]

~snip~

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.

Money, savings, spending... it's all a cycle, isn't it? People, certainly, the vast majority of people, have cash in their pockets, and what do they do? They are constantly spending! And not always on the correct or essential matters. It is comparable to "Hey, I've got money, let's just throw it away on something shiny!" But then... An emergency occurs, and they scramble in an instant

Savings, savings, and more savings! Folks, this is not advanced science. It's just common sense, nothing but common sense. You must possess a cushion or safety net. You do not want to be that person, the one who is surprised, do you? False, you do not. You should always be well-prepared. Therefore, let's get serious, but not too seriously. Let's be smart about our money. Let's be extremely frugal. Because when the unexpected occurs, which it will, you will be prepared. You'll be more than ready

[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.