asked in Business+Finance by ELITE (3,005 points) 3 10 14
Savings have been one of the most difficult task that I have ever seen as I am the type that is finding it difficult to save money as there are needs that I always want to meet. May you some of the tips to save?
replied by (16 points) 2
save daily a multiple of 2 bucks, put in bank,invest in business. Piggy wallet is good for childrens.

5 Answers

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answered by VISIONARY (9,003 points) 6 10 19
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Spending has always been man's best companion but savings is just the best decision anyone can take to really make progress financially.

I save a lot especially the monies that I don't really need at a point.you can save by setting aside dimes daily or some cents weekly and maybe some dollars monthly.you can always start little and keep increasing it as you go on.

I also save  by buying only what I really need, leave the pressure to impress the world just go for your daily needs and saved for luxury which you should just indulge in once in a while.

Try to invest your savings into a lucrative business leave all unwarranted spending and focus on investing your savings and be sure of where you're investing too.
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answered by LEGEND (6,391 points) 5 10 21
It depends with your current situation either a student or working class. Anyway that doesn't bother in any way, if you're working online then I bet you should be making higher withdrawal amounts. Also, you need to learn some extra skills like freelancing, blogging, transcribing among others. These ones will boost your income and you can make upto $100 per week or even more. You can also do some online tutoring at chegg and other sites. Then let your amount accumulate in PayPal or bank account, a place where you cannot easily access them.

If you're working offline then having several insurance covers can help you out. Especially life insurance is very crucial and a certain amount of cash will be sent to your account. By the time you'll be having a settled family, you won't struggle raising kids. I have seen several people living good lives after life insurance.
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answered by Patron (1,912 points) 2 6 14
Needs and wants will always be there haunting you every now and then. But, for that reason, it does not mean you should spend all the money you earn and becoming empty handed at the end of the month. Whatever you earn, you have to draw a budget and spend money only on those indispensable things that are absolutely necessary for life.

Once you identify the items on which you have to spend and those items or expenses which can be either postponed or totally avoided, you will definitely be in a position to save some money for the future. My personal view is that you must save at lease 10% of your salary for the future besides any other savings.
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answered by LEGEND (6,078 points) 2 10 28
Right now I discover something that will help me save in the future. I consider having Insurance with Investment. I just need to pay the insurance company, monthly or annually to be a member. There are lots of insurance company I already talk with and I love all their presentations. I rather take care of myself though because the insurance do not want people who are sick because it will be costly on them. Right now, while I am still healthy, I would want to have it and after 10 years I can get my money. I will have millions after 10 years, as discussed. On the other side, I am saving my extra money monthly. I really have the specific amount per month that I save besides the extra amount. I save it and use it as an emergency money. We can save my leaving an extra money per month that would depend on our earnings.
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answered by LEGEND (7,490 points) 4 15 39
I know when you are young, the economy, and the lack of funds make it really hard for anyone to save these days. However, a wise man told me a very long time ago it is actually possible to save even if you're poor. You will need to consider saving like a monthly bill that has to be paid each month on time otherwise you'll have a late charge to pay. When you first start out, make your monthly payment small. I had a small child to raise and I didn't make much money at all so I started out with only $5 a month or each payday. I had a separate account I had set up for my monthly payments. Each paycheck I received I had the $5 deducted from my pay and put into this account. I know it was only $120 a year that I saved, but it was more than I could do on my own. I didn't miss the money because it was just another tax taken from my check.

As I started to earn more, I increased the monthly payment to $10 a check instead of $5. The next year I was able to double my saving and now I could save $240 a year. Each year I'd increase my payment by $5 each check. Soon I was saving more each month and I never once missed the money in my check. This was the only way I could find it possible to save money and not spend everything I made. In the end, this pays off and you are able to put money away for the future or to buy a home or even a car if you need one. This is a great way to save money and not miss it each time you're paid.

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