Cracking the Code of Saving Money...

[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.

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[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.

[Out of mind]

Saving money is very difficult as it is for all people whenever you plan to save money, you have many important tasks that need money to complete. And if you want to save money for the future, you must keep your mind strong so that you can save the money. In this era it has become very difficult to raise money because all the fields require money which costs more than what is earned. A family has many needs and doesn't have enough money to save, but has to borrow more to meet those needs. That's why I think that if you want to save money, maybe you can save it in a bank or cryptocurrency, maybe in the future. I tried a lot to save money, but I couldn't, but it was spent on my various activities that's why I made my money into bitcoins for the future which will give me profit. That is why in order to eliminate this kind of problem one must keep the money in an active place from where you never transfer the money but keep it there and save it for future, but this cost of money will be reduced.

[junder]

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.

Yes that may be true, if we look at the many cases that occur about those who are wrong in terms of allocating money for investment then there will definitely be cases that occur or befall them, but I don't think it will always be like that, maybe this is just a matter of their lack of knowledge in the field and also of course following by not paying too much attention to the level of risk that can befall them. So maybe I think that's one of the reasons why they invest but in the end it's like a waste of time and money, and I would say maybe that's part of the process that they have to go through in the beginning, if they give up then yes I agree to the statement of wasting time and money, because they're already munder before the returns happen.

Honestly, I also wouldn't encourage anyone to invest or save, because yes I think it will come back to their belief and trust in terms of managing their money, if they want to get an increase in their money then yes they can invest but also by agreeing to the risks that are there, it will not always be profitable because obviously investment is always related to the level of risk. Losing millions of dollars? Yes I think it's one of the experiences of the rich that makes them even richer when they can get through such conditions, learning from mistakes is always the best thing, and maybe that's what successful billionaires apply.

[jaberwock]

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.

If you already know how to budget, unnecessary spending will now be gone or will be minimized. I think unnecessary spending if done with our family is not wrong and I don't even think that it can be called as that because I'm sure this can make them to feel happy. It's better than if we do this in our friends.

Yeah, budgeting or saving prevents us to be stressed not only in terms of financial because most of our problem which cause us a stress starts with money or related to it. Planning for a vacation is I think still part of unnecessary spending but again if it's done with our family I think it's fine. I guess it's not bad to treat our selves and our love once even for rare occasions.

[Lanatsa]

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.

Yes that may be true, if we look at the many cases that occur about those who are wrong in terms of allocating money for investment then there will definitely be cases that occur or befall them, but I don't think it will always be like that, maybe this is just a matter of their lack of knowledge in the field and also of course following by not paying too much attention to the level of risk that can befall them. So maybe I think that's one of the reasons why they invest but in the end it's like a waste of time and money, and I would say maybe that's part of the process that they have to go through in the beginning, if they give up then yes I agree to the statement of wasting time and money, because they're already munder before the returns happen.

Honestly, I also wouldn't encourage anyone to invest or save, because yes I think it will come back to their belief and trust in terms of managing their money, if they want to get an increase in their money then yes they can invest but also by agreeing to the risks that are there, it will not always be profitable because obviously investment is always related to the level of risk. Losing millions of dollars? Yes I think it's one of the experiences of the rich that makes them even richer when they can get through such conditions, learning from mistakes is always the best thing, and maybe that's what successful billionaires apply.

Whether you would really be taking up risks or not then its up to you and its true that taking up risks doesnt guarantee of success on which it would really be just that giving whether positive or negative.
If we do talk about saving money then it should really be that standard since we do know that there are situations in life on which we know that it cant be expected on which you would be needing up that kind of allocated funds when emergency do happen. This is why management of funds is really that crucial then you should really be that wise whether you should be going all in with investment or would really be having that split up on which i could say that this would be the wisest decision to be made.

There's no need on cracking codes or whatsoever which considering that saving is really that something in default. On doing that then you should not be that too careless on spending on things
because if you do then you would really be that falling short and the worst you would really be that experiencing unfortunate conditions which we dont really like
for it to happen into us. This is why better be mindful of the risks and outcomes later on and with this then you could reassess on whatever decisions that you might be making
and trying to look back if its worth or not.

[Youngkhngdiddy]

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.

 Spending on family should be considered a waste after all we are all striving and working hard just to make sure our family is okay, personally I am more of the family person, I can go any length to put a smile on their face, when I’m in the position to help and I can help, I won’t hesitate to help. What is the essence of saving if not for emergency and maybe a plan you’re yet to set in motion. Will you tell me if a member in your family is in need of help urgently and you’re in the position to help. Will you decline is request just because you’re saving and keeping to budget ? Unless you’re not the family type or you just  lack empathy and being inconsiderate.
 I think I cracked the code of saving money in my own way, my methods are simple, I have different accounts for different purpose, my spending account for my daily expenses, I also have a savings account which I rarely go to because I make sure I don’t go zero on my spending account. I also make sure money goes into the saving accounts on a daily basis no matter the amount that goes in it’s something. Another way is by having multiple streams of income, with multiple streams of income coming you will have more than enough to save. I prefer ti save in dollars instead rather than saving in bank, saving in dollars has a huge advantage than saving in bank.

[Casdinyard]

I say you look into saving money first before going for your expenses. Especially if you're a middle-class income earner. If you're finding it hard to save money, cut the middleman and save money before it becomes hard by automatically allocating some of your salary and then working on what was left for your expenses. I've done this and it's not so hard on my spending habits either, I was even able to allocate some of my money to reinvest into crypto, so it's possible by all degrees if you're going to have the discipline to follow through with it.

Most banks nowadays have these autosave feature that automatically takes from your bank account a certain amount each month. Use that, use autopay as well for your bills so you pay them on time, and then, don't go on dates every month if you have a partner.

[junder]

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.

Yes that may be true, if we look at the many cases that occur about those who are wrong in terms of allocating money for investment then there will definitely be cases that occur or befall them, but I don't think it will always be like that, maybe this is just a matter of their lack of knowledge in the field and also of course following by not paying too much attention to the level of risk that can befall them. So maybe I think that's one of the reasons why they invest but in the end it's like a waste of time and money, and I would say maybe that's part of the process that they have to go through in the beginning, if they give up then yes I agree to the statement of wasting time and money, because they're already munder before the returns happen.

Honestly, I also wouldn't encourage anyone to invest or save, because yes I think it will come back to their belief and trust in terms of managing their money, if they want to get an increase in their money then yes they can invest but also by agreeing to the risks that are there, it will not always be profitable because obviously investment is always related to the level of risk. Losing millions of dollars? Yes I think it's one of the experiences of the rich that makes them even richer when they can get through such conditions, learning from mistakes is always the best thing, and maybe that's what successful billionaires apply.

Whether you would really be taking up risks or not then its up to you and its true that taking up risks doesnt guarantee of success on which it would really be just that giving whether positive or negative.
If we do talk about saving money then it should really be that standard since we do know that there are situations in life on which we know that it cant be expected on which you would be needing up that kind of allocated funds when emergency do happen. This is why management of funds is really that crucial then you should really be that wise whether you should be going all in with investment or would really be having that split up on which i could say that this would be the wisest decision to be made.

There's no need on cracking codes or whatsoever which considering that saving is really that something in default. On doing that then you should not be that too careless on spending on things
because if you do then you would really be that falling short and the worst you would really be that experiencing unfortunate conditions which we dont really like
for it to happen into us. This is why better be mindful of the risks and outcomes later on and with this then you could reassess on whatever decisions that you might be making
and trying to look back if its worth or not.

Although taking risks does not guarantee success, in my opinion this is one way to take steps forward, I admit that people who take risks are brave people. Because people like this have the courage to try with the risks they will face, however, we ourselves will determine all the choices and steps for the next time only we choose, suggestions and input from people are just a consideration. Everyone doesn't want problems that suddenly come, but who knows. By having savings, I think maybe it will be useful at times like this, so that when we are in a situation like this it is less likely that we will link other people because those of us who do not have savings can just borrow here and there.

I spend my money according to what I need not what I want, but most people spend their money on what they want even though the function and role of the items they buy are not that important. Before doing something that will produce even with the risk, I think I myself must have thought about it first because everyone knows that no one wants a loss, but of course with careful thought, there must be a risk. So I think it's natural that there are risks that we will face because basically everything must have its own risks.

[mirakal]

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.)

Stay at home most often if you want to avoid expenses like eating on fancy restaurants, or shopping on malls. What you want to do today might not be the same thing tomorrow. That’s one way of saving. Also, live life within your means. Do not spend above your income, otherwise you’ll end up having a lot of debt. Lastly, learn to invest more than saving a lot. Your savings has rare chances to grow, but when you invest, your capital might be double or triple in time as long as you invest on those high potentials to succeed. Hence, you will be more capable to save if you have a sustainable investment on the side.

[shinratensei_]

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.)

Stay at home most often if you want to avoid expenses like eating on fancy restaurants, or shopping on malls. What you want to do today might not be the same thing tomorrow. That’s one way of saving. Also, live life within your means. Do not spend above your income, otherwise you’ll end up having a lot of debt. Lastly, learn to invest more than saving a lot. Your savings has rare chances to grow, but when you invest, your capital might be double or triple in time as long as you invest on those high potentials to succeed. Hence, you will be more capable to save if you have a sustainable investment on the side.

also needs to keep in mind though, investment doesn't necessarily always results in success, its essential to choose investment based on fundamental, the only investment thats safe are investment that gives really low yield or return, therefore investment like bank deposits and so on, don't expect to get rich from it but instead expect it to at least give additional capital growth on top of combating the curent inflation.
but whats more important is to increase income, can't expect to save because the salary increase right now aren't really on par with the inflation increase therefore the disparity between the price of the goods and our purchasing power will get more bigger and bigger, thats just how bad it is the current condition for people with low income, its just increasing income is the only way.

[lienfaye]

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.)

Stay at home most often if you want to avoid expenses like eating on fancy restaurants, or shopping on malls. What you want to do today might not be the same thing tomorrow. That’s one way of saving. Also, live life within your means. Do not spend above your income, otherwise you’ll end up having a lot of debt. Lastly, learn to invest more than saving a lot. Your savings has rare chances to grow, but when you invest, your capital might be double or triple in time as long as you invest on those high potentials to succeed. Hence, you will be more capable to save if you have a sustainable investment on the side.

also needs to keep in mind though, investment doesn't necessarily always results in success, its essential to choose investment based on fundamental, the only investment thats safe are investment that gives really low yield or return, therefore investment like bank deposits and so on, don't expect to get rich from it but instead expect it to at least give additional capital growth on top of combating the curent inflation.
but whats more important is to increase income, can't expect to save because the salary increase right now aren't really on par with the inflation increase therefore the disparity between the price of the goods and our purchasing power will get more bigger and bigger, thats just how bad it is the current condition for people with low income, its just increasing income is the only way.

I agree. Don't be complacent for what you currently earn especially if you know that it's just enough for the monthly expenses. Looking for opportunity to have another source to earn money is always wise, this is to increase the earnings and to be able to save money. Anyway, I don't consider bank deposit as an investment since the annual interest is too low and not worth it (at least for me).

Hence, I better look for other opportunities to invest. Of course it's not going to be easy and there are times you'll fail, but keep trying and stick to an investment where you have knowledge about and not just you're taking risk without knowing what you're getting into. Nevertheless, always have self-discipline to control how you spend your money.

[barisbilgili]

I agree. Don't be complacent for what you currently earn especially if you know that it's just enough for the monthly expenses. Looking for opportunity to have another source to earn money is always wise, this is to increase the earnings and to be able to save money. Anyway, I don't consider bank deposit as an investment since the annual interest is too low and not worth it (at least for me).

Hence, I better look for other opportunities to invest. Of course it's not going to be easy and there are times you'll fail, but keep trying and stick to an investment where you have knowledge about and not just you're taking risk without knowing what you're getting into. Nevertheless, always have self-discipline to control how you spend your money.

By having an income that can only cover a month's needs, of course we have to look for additional income to be able to save because if we have an income that is only enough for a month's needs and don't have savings for emergency needs, it will certainly be very difficult for us if we get unexpected needs, of course we have to take on debt to meet these needs.
If we choose to invest, of course we have to do it consistently and also use strategies in the investments we make to gain profits. Yes, you are right, we have to keep control of our expenses so we don't use them for things that are not important.

[uswa56]

By having an income that can only cover a month's needs, of course we have to look for additional income to be able to save because if we have an income that is only enough for a month's needs and don't have savings for emergency needs, it will certainly be very difficult for us if we get unexpected needs, of course we have to take on debt to meet these needs.
If we choose to invest, of course we have to do it consistently and also use strategies in the investments we make to gain profits. Yes, you are right, we have to keep control of our expenses so we don't use them for things that are not important.

Logically we can only save when all our living needs have been met, so there are several steps we must take first to be able to achieve our desired goal, namely being able to save.
Regarding earning extra money because the main income is only able to meet life's needs, we will have additional tasks and we have to do that because it is impossible to live by just watching without making any progress.
Do extra work to have more income, then apply strategies in life to be able to save or invest, those are different plans in my opinion, the most important thing is that we have to have more money first to be able to do all these things.

[dezoel]

Planning for a vacation is I think still part of unnecessary spending but again if it's done with our family I think it's fine. I guess it's not bad to treat our selves and our love once even for rare occasions.

Any person who has a family basically works and earns money so that they can provide for them and make them happy and to make them happy one needs money, for sure. So planning vacations, celebrating special days, and occasionally going out, are all important things that are supposed to be done and you can't skip these things just so that you can save some money, you need to skip things that are extra and that aren't necessary in order to get to have some money left at the end of the month.

That's why, one should never compromise on important things and things that make them and their families happy and they should think of other ways that they can use to save money. If they think they can't do it with a single job, they should try and start doing some side job or something that can earn them something extra.

[libert19]

By savings first and spending from interest earned from your savings, I read this somewhere on the Internet and it's stuck with me ever since,  I find it true from my personal experience as well. Interest might not be enough but what one could do is increase savings further and further until interest is good enough to sustain oneself.

[slapper]

Planning for a vacation is I think still part of unnecessary spending but again if it's done with our family I think it's fine. I guess it's not bad to treat our selves and our love once even for rare occasions.

Any person who has a family basically works and earns money so that they can provide for them and make them happy and to make them happy one needs money, for sure. So planning vacations, celebrating special days, and occasionally going out, are all important things that are supposed to be done and you can't skip these things just so that you can save some money, you need to skip things that are extra and that aren't necessary in order to get to have some money left at the end of the month.

That's why, one should never compromise on important things and things that make them and their families happy and they should think of other ways that they can use to save money. If they think they can't do it with a single job, they should try and start doing some side job or something that can earn them something extra.

Because of this, in today's unstable market, making sure there is a steady flow of income to meet these needs is very important. The idea that you should never give up on things that are important for family happiness while also pushing for side jobs to make extra money highlights a common social problem

But this conversation walks a fine line between being responsible with money and working too hard. For smart financial planning, you need to carefully look at both your income and your expenses. If you want to be financially stable in the long term, you need to carefully look over what you consider to be "important things" and find and cut back on unnecessary costs. The search for happiness shouldn't lead to spending too much money