How do you save your money?
By sandeep_t
@sandeep_t (428)
India
March 21, 2008 6:38am CST
How do you people save money? Do you do it syatematically every month or quarter or once a year? Where do you save? Do you put in banks or mutual funds or insurance or stocks?I put majority of my savings in Mutual funds. It is mandatory for employees to part some money into Provident fund so this is also another saving that i make. I'm planning to put some amount in the insurance aswell from next financial year
4 responses
@lovablebee (322)
• China
21 Mar 08
Saving money, I think it's so difficult, beacuse I'm saving money too. I have two bank accounts. At the beginning of a month, I take some money from one account, the save them to another bank account. In this month, I told me that, I just have the money which in the first bank account, the money in the second account is not mine. Then, in the most months of a year, though it's very difficult, I always have some money in my second account. That's the method I save money.
@sandeep_t (428)
• India
21 Mar 08
I do something of this kind. Instead of saving it in the bank, i put in enevlopes. Each envelope is meant for one particular purpose.
@goldwin65 (935)
• Malaysia
21 Mar 08
Honestly I am very poor in saving up money. I have bought a few insurances, invest in 3 trust funds and also my colleagues and I save money by putting aside 10% of our salary into the pool. By the end of the year each one of us will be getting something like 8K from the pool. That is the only ways fo me to save up or else I will not see a single cents in my pocket by the end of the month.
@sandeep_t (428)
• India
21 Mar 08
Yup its good atleast your are saving money in some way. Go for SIP in mutual funds. They automatically deduct Rs 500 every month from your bank account. So since u need not go some where and but it would suit you. You can even specify as low as Rs 50 to Rs (MAX).
@JAY020582 (406)
• Philippines
21 Mar 08
it's really hard to save money for me, I have a lot of expenses. i can''t control myself to spend.. but i can say spend only for worthy things... and i know i need it..
@Sarah187 (90)
•
21 Mar 08
I'm quite bad at saving money!!
I do have a piggy bank sat on the side so I can offload all my coppers and pennies which come in handy when its full and I get to cash it up!!
I have a seperate bank that I use for things like this, I will have paypal send any 'online' profits Iive made from various sites to the other bank account just so it can build up a bit to buy a treat for me or the family when its a decent amount.
That's really my only meatods of saving, if we need large amounts for something then it goes on the credit card and we pay it off slowly over time- like saving but only backwards!!
