I'm good at saving money only if I need it for business, but I'm a bad spender when it comes to food, and daily needs.
Do you like to save your money?
Do you like to save your money?
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off-topic Are you good at saving money?
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I wish I was in my late teens/early 20s. Some of my coworkers were able to save $20,000-40,000 in the two years we worked together. Instead, I chose to spend it on taxis, bars and clubs, and hotels. However, I had to do that to see my girlfriend, now wife, as we weren't allowed to drive (after we got married, I was able to get a license, but we just spent that on even more bars/clubs). So, in actuality, I can't say that I didn't spend it wisely.
But ever since my 30s, I've been packing away money like crazy. If I see something I don't need, I put that money away in some form of investment. I had broken headphones for about 6 months that I just taped together when they broke, and they finally broke for the last time to where I'd have to tape them each use, which got cumbersome, so I bought new ones.
I want to leave behind at least 7 figures, which isn't out of the question with how much I'm able to save now that my house is paid off.
But ever since my 30s, I've been packing away money like crazy. If I see something I don't need, I put that money away in some form of investment. I had broken headphones for about 6 months that I just taped together when they broke, and they finally broke for the last time to where I'd have to tape them each use, which got cumbersome, so I bought new ones.
I want to leave behind at least 7 figures, which isn't out of the question with how much I'm able to save now that my house is paid off.
Ravenfreak
Chief Jokester
Unfortunately I'm not the best at saving money. I need to get better at saving money, especially since I now only get paid bi weekly at my new job whereas I was getting paid every week at my previous job.
Didn't you mention that you work at a bank?
Perhaps one of your benefits could be building a savings plan. You never know until you ask.
Force them to take 2.5%, then 5%, etc. so you feel the impact is not as great.
ActionAce
Major Mayhem
It's indeed a very good idea to want to save for business. It's like saving some money for your future. I consider the 50/30/20 rule: 50% necessities, 30% discretionary spending, and 20% savings. That's an awesome formula that worked for me. You may want to give it a try.
I've been able to get by for more than 20 years. I can say that I'm good at it. Although, I have so many things I have to spend on but I always manage to save at least 20% of all my earning in a month. It's only a few times that dropped to 10%.
I Have Become So Good At Saving Money recently. Saving money is not an easy task but over the years I have learnt how to do it through various ways and it has contributed to my financial security. To me it is all about having a plan which I follow religiously and ensuring that I save first before spending the rest.
To begin with, I monitor my daily expenses so that I can know how I spend my money. After that I plan for my money whereby I put aside twenty percent of what I make as savings or investments. For this purpose, I have separate accounts which are meant for my savings.
There is this one approach that really helped me out. I divide everything into three parts: one part is for rent, bills, food. The second goes on entertainment, while any remaining amount goes towards my savings.
Nevertheless saving money entails much more than just calculations, it requires some dedication too. what I want and always remember that saving every dollar will take me one step closer towards gaining my financial freedom.
To begin with, I monitor my daily expenses so that I can know how I spend my money. After that I plan for my money whereby I put aside twenty percent of what I make as savings or investments. For this purpose, I have separate accounts which are meant for my savings.
There is this one approach that really helped me out. I divide everything into three parts: one part is for rent, bills, food. The second goes on entertainment, while any remaining amount goes towards my savings.
Nevertheless saving money entails much more than just calculations, it requires some dedication too. what I want and always remember that saving every dollar will take me one step closer towards gaining my financial freedom.
You have work on your strong will if you want to save. This is going to make it possible for you to stop impulsive buying of things because when you can't control that, it's going to be practically impossible for you to save. As long as you have access to your funds, you will spend it.
I wasn't when I was younger. You know, there was little responsibilities then, I was quite reckless in spending.but the story changed when I grew older and I have to be accountable for my finances.
So now I can be as frugal as possible when it comes to spending
So now I can be as frugal as possible when it comes to spending
I would say I'm average at saving money. I try to be mindful of my spending, but sometimes I find it challenging to resist certain temptations or unexpected expenses.
I am not the specialist in saving money. I am just trying to learn how to save. I never got to know the importance of savings prior to now. That's why I still set savings goals and I forget that I had set such goals when the money comes in. But over months, I am becoming more conscious and I am taking my saving goals seriously.
Shortie
Captain Cackle
I would say that I am good at saving money, but it is usually rising costs that mean I have to dip into any savings I have made a lot of the time to cover them.
When it comes to saving, I am strict with myself and only buy what I need to, but have been known to splash sometimes.
I would like to work towards a point where I have savings and I can leave them alone and just build them up.
When it comes to saving, I am strict with myself and only buy what I need to, but have been known to splash sometimes.
I would like to work towards a point where I have savings and I can leave them alone and just build them up.
I am not that good at saving money but I do try to save a little amount. I think mine is because of responsibilities and a lot of bills piling up. It's so hard to save money in that situation.
I am really good at saving money. This started to happen after I sat down, wroote down all my income and expenses and set financial goals.
Before doing this, I wasnt able to save any money and would have to frequently resort to my credit card. Now, I save around 30% of my income as savings <3
Before doing this, I wasnt able to save any money and would have to frequently resort to my credit card. Now, I save around 30% of my income as savings <3
I love to save money simply because I have more confidence when I am certain that there is some money in my account per time. I don't like my account being completely empty. That's the reason why I put a premium on saving just 5% of my monthly income.
I would not say that I am perfect with saving money but I am quite better than the way I used to be in a that regard. I am someone that grew up in basic luxury and I really can't reduce my lifestyle. What I do is to strive to earn more so that I can save.
I'm starting to get better at saving money, thanks to @Harsh World. I'm investing a small amount of money on a monthly basis now that'll prepare me for the future.
Saving is very important. It helps you stay in touch with reality and what you can achieve. I will always recommend that people keep saving as that is how they become better in life with their financial life goals.
The truth is that no one really gave us financial education at that time were growing up. If I had known, I would have started saving at a much younger age and would have been more versed in savings now. All the same, it is even better that we know the need for savings now than later. I actively save now and encourage others to save too.
I'm better than I was when I was younger, but I could do better now if I tried.
I'm working on getting myself out of debt. Once I do that, I'll probably sit on my money more than I have before in the past. Not really to save but to try to become more minimalistic.
As I age, I'm learning how nice it is to want and have less. Less means less worry and less needs to give myself more to do. With less to worry about, I have more time for my passions in hiking and biking --- ultimately, that makes me a healthier person.
I'm working on getting myself out of debt. Once I do that, I'll probably sit on my money more than I have before in the past. Not really to save but to try to become more minimalistic.
As I age, I'm learning how nice it is to want and have less. Less means less worry and less needs to give myself more to do. With less to worry about, I have more time for my passions in hiking and biking --- ultimately, that makes me a healthier person.
It is not always easy to develop a culture of saving money. It takes much more time before one can be able to learn it and it is not a straightforward situation at all. I like to save money as it is a way to build wealth for the future.
I have some debt as well, but I'm working towards rebuilding my credit too. I made some stupid decisions in the past, but that's perfectly fine. I'll rebuild what I lost credit wise soon.
It's not possible to invest every penny I have all the time. There are sometimes when having cash at hand is very important because of needs they would be used to sort out.
It's a part of being a human, I think.
Plus, I was never really taught about credit and making good decisions. I think schools really need to emphasize that, but I wonder if the powers to be stop them so that they'll get in debt and businesses that deal with that can keep making money.
I wouldn't doubt that's the case!
