how do you save your money?

@paintwet (165)
China
December 17, 2007 9:03am CST
i am very poor. i think i am not good for save money.do you have any method?can you tell me?
7 responses
@neenasatine (2841)
• Philippines
17 Dec 07
why did you consider yourself poor? okay if you want to save money all i can say to you is buy things that are really necessary not because you like them... in order to do such you should learn how to budget your money... make a list in order to keep track of your expenses
@paintwet (165)
• China
17 Dec 07
i agree with you , i always buy something just because i like them
• Philippines
17 Dec 07
Learn to distingush between need and want. Of course, focus on the need first.
• Philippines
17 Dec 07
do you believe in superstitious belief regarding increasing your money... well i tried that superstitious belief and it really happened... in applying this belief you should have a wallet.. i just watch it in T.V. so i just gave it a try... before i am not earning much since i just have a low salary.. but now i am earning more...three times more... here is what you need to do in your wallet you need to arrange your money smaller bills(front) up to larger bills (behind)... but make it sure the picture of men in your money is facing you when you check your wallet... when i tried this one, a few days later i got a job which gives me three times higher than my previous salary... resigned being a teacher and now a freelance writer wherein i'm earning more than being a teacher...i don't know if just a coincidence... but just gave it a try.. i believe nothing will lose from you trying this superstitious belief... but next time try to manage your finances... alright?
@nichole1983 (1187)
• Canada
17 Dec 07
how to save money i have 2 bank accounts.. one checking for everyday banking cheques etc.. the second is savings... the only way to get into the savings account is to transfer money to my checking... if i dont get get dinged up the ying yang on penalites... another thing that i do is put so much a money into stocks and bonds that im not able to touch for a certain amount of period... usually 5 year term i put on it... at least this way i will have a nice chunk of change... to save money you have to be stingy sometimes.. dont always get what you want when sometimes you dont need it...
@paintwet (165)
• China
19 Dec 07
which stock you buy,and you can keep a stock 5 year ? why i always lost my money on stock?
• Canada
19 Dec 07
no stocks are just a gamble with your money.. if you are putting into a stock you really have to watch it closely and know what kind of stocks that are going to make you money and which stocks are going to break you sort of speak.. i lock my bonds in for a certain amount of years.. you gain interest quartely on the stocks you have.. even bonds you have to watch there are good ones and bad ones... if you are getting into this... stocks look for a good stock broker... and with bonds get a good fiancial advisor that is working in your best intersts and not one that just wants to grab money and doesnt care.. thank goodness i used to be a financial advisor...
@alamzaib (1287)
• Pakistan
4 Jan 08
You are not poor ,You are saying that you could not save money it mean you have money.but dont know how the money should spend. I will suggest you to make an account in bank.do not cash untill it is very neccessary then you can save it in your account.
• Singapore
4 Jan 08
Keep every single cent inside the bank account and survive 3 meals a day with bread and water. Of course, you have to bar yourself from withdrawing any amount of money from the day you start your determination until the numbers sum up to millions of dollars then you can withdraw and spend wisely.
@okwusman1 (2247)
• Abuja, Nigeria
17 Dec 07
paintwet, To save money you can start by having a savings account with good bank to keep custody of your money. Then you start depositing the little amount you make into the account regularly, make it compulsory to keep your money there no matter how small it is. As you continue to do so you will see how the money will grow. When you have saved or accumulated a substancial amount, then you can start investing in shares (stocks), mutual funds etc. these investment will yield more money for you. Keeping money idle in a bank is not adviseable, it is better to investment it in areas where you can be receiving dividends, interests and bonuses etc. You can also contact a financial expert in your area for guidance. Good luck.
@paintwet (165)
• China
19 Dec 07
I have just lost much money when i buy stocks recently.
@gsotes62 (70)
• Philippines
17 Dec 07
Being poor is not just the lack of money. I used to know some people who have lots of money but still consider themselves poor because they have more debts than the total value of their assets combined. It's the lack of technical know-how on how to manage money. The answer to being poor is not just to save money but to manage it. There are people who have innate talents on managing money while others spend a lifetime trying to learn how to manage money. My advice to you is read books or attend forums and seminars on personal finance. There are also lots of resources now available on the internet. You can also start by joining personal finance forums on the internet. Here is one savings technique I could share with you though. The typical saver would save only what is left from their income, that is, after incurring all the expenses. On the other hand, modern financial advisers would tell you that you spend money only after setting aside your savings. You must allot a fixed percentage of your income, say, 20% per month. Thus, if you have a bank account, deposit that 20% first before spending the other 80%. Hope this could help.
@paintwet (165)
• China
19 Dec 07
i think what you said is very irradiative for me,i decide do just under what you advise from next month.
• Pakistan
28 Dec 07
Don’t; please don’t say paintwet that you are a poor person. You are not poor if you have good health. You are not poor if you time to earn. You are not poor if you can walk, think, talk, and work. God gives you 24 hours a day. These 24 hours are 24 golden coins. If you are wasting them with no care then you are a miserable person. If you can utilize them with well manners then you can get more and much from your time. This is possible. Select the right job to earn, collect and save. Try to spend little and save much. It is not away than sky. Work hard to get the fruit. Yes it is possible if you have good mental and physical health. Follow me, I have not much money. But I am quite satisfied.