Do you save money?
By shiloh_222
@shiloh_222 (5479)
Philippines
May 21, 2008 6:39am CST
Hi... i have been told by a friend that she read from a newspaper article that one needs to save money in the bank that equates to atleast 6 months of salary. so that in time of crisis or emergency or job transition, one will be able to survive it without much problem.
yikes, i am nowhere near that...LOL.... and this makes me want to earn more in other ways and means...just to help me save... mylot is my piggybank too...LOL
how about you?
5 responses
@lovablebee (322)
• China
21 May 08
Yes, I do save money, because I want to go to beijing to see the Olympics. But I found saving money is so difficult for me. At the begainning, I save the money in my bank account, but usually, I can't control myself and I always use the money to buy something I like, it makes me have no money in my account. And now, I make another account in the bank. The money in one account is for buying something, and the rest money in another account is for saving. Though this method, I really save some money.
1 person likes this
@shiloh_222 (5479)
• Philippines
21 May 08
hi thanks for responding...
yes, saving money is difficult with all the things that we want to buy...
great move there...
wow...beijing olympics... how many days will you be staying there?
@shiloh_222 (5479)
• Philippines
21 May 08
that's sounds a great plan. i am planning to visit hongkong, any tourist spots that you can recommend for me? thanks
@lovablebee (322)
• China
21 May 08
Maybe I will stay there for a week. I have a lot of friends in Beijing, I will play with them when I stay in Beijing.
1 person likes this
@noodlebrain0 (118)
• United States
21 May 08
I don't use bank accounts. What i do, is put about 3/4 of my money in a CD, because it gives me about $40 inerest off o f $800. Much more then a bank account.
1 person likes this
@shiloh_222 (5479)
• Philippines
21 May 08
hi...
thanks for the reply.
yup, bank accounts only earn 1% interest per annum...so sad...
i am looking for other means to make my little savings earn money.
what's a CD?
any suggestions for me?
@noodlebrain0 (118)
• United States
21 May 08
You might be interested in a CD (Certificate of Deposit). find out more here - http://www.nea.org/money/pf031006.html
You're welcome.
~Noodlebrain0
@shiloh_222 (5479)
• Philippines
21 May 08
hi thanks for the reply. yes, second job helps.
how do you like it here?
@kaezy_kulet (2465)
• Philippines
22 May 08
i ahve a bak account specifically ATM. it is very convenient for me so that wherever i go i will not bring large amount of money. i can get money anywhere throug my ATM and it feels good to earn your own money and then save it for future use.
@peeohdee (40)
•
21 May 08
I am all for having savings! I think an empty bank account is terrifying. I wouldn't dream of being unemployed without having saved a single cent! Not only is that foolish but it's just too scary to think about. It's like jumping in the ocean not knowing how to swim. I say the bigger your savings---before you quit a job--the better!
On a personal note, I happen to think that if you have savings, you can afford to not start looking for another job right away. I'm not saying you have to spend all your money during your unemployment, I'm saying that at least you can tell yourself, at least I'm not jobless AND broke!