r u good in money matters
By knightrider
@knightrider (1083)
India
July 16, 2008 2:39am CST
i can say i am not very good cos i succumb to immediate tempataitons and spend a lot on unnecessary things, another problem is i occassioanlly buy things on ego, even if i get a better bargain at a different place, but generally one a monthly basis i manage money without overspending rather without much saving
1 person likes this
6 responses
@applefreak (3130)
• Singapore
16 Jul 08
well i won't say i'm very good in money matters. as a matter of fact, i'll find something to spend on if i know there's money sitting in the bank. so i did some research and adopted one of the good practices. i pay myself first before paying others. every month when i receive my salary, i'll put a sum of money in a place where i can't touch. i'll only use that money for emergency, that's my rainy day fund. then i'll pay all my bills in full before spending on myself. it may sound tough to adhere to but after practice, i got used to it. in fact, i'm so happy with my rainy day fund that i feel less stressed about money. the knowledge that i've got money for emergencies is a really good feeling.
@redsponge (557)
• Malaysia
16 Jul 08
I agree with you. It is great to know that you have some money even when u r in emergency. With that, you can plan well with your time and activities!
Besides, I also agree with you that we need to practice. Basically this is not too tough. You can use this formula:
Monthly income - (study loan + car loan + insurance + parents allowance + petrol + household expenses + my own allowance) = savings or emergency.
But of course, there might be times you need to attend wedding dinner or birthday party where you need to spend extra on gifts in certain months, then you can make use of the savings or emergency. But if you do not wish to touch them, you can adjust your allowance.
@applefreak (3130)
• Singapore
16 Jul 08
well i have a budget so i'm trying to stick to it. my formula is pay - savings = money to pay bills and spend. it's easier this way for me so that i know how much i have to spend. the remaining money after putting aside my savings is up to my own usage. if i've overspent the previous month on my cards i'll just have less allowance this month. it's really hard in the beginning but i'm getting used to it now.
@moonlitmagikchild (22181)
• United States
19 Jul 08
im good with money and i dont spend it on anything except for maybe being able to go out to eat and etc..
@iskayz (5420)
• Philippines
16 Jul 08
Hi there!
Oh I can say that I'm very good in saving money. Ever since I was a kid I am able to save my pocket money from school. I can say that I am blessed with the ability to save manage and save my money.
Try considering this tip, "don't buy things that you don't need, and what you can't buy don't think that you need it".
Hope it can help you! Ciao! 
Oh I can say that I'm very good in saving money. Ever since I was a kid I am able to save my pocket money from school. I can say that I am blessed with the ability to save manage and save my money.
Try considering this tip, "don't buy things that you don't need, and what you can't buy don't think that you need it".
Hope it can help you! Ciao! 
@siddiqali (632)
• India
16 Jul 08
No i m also not good in that.Same problem is with me i dont do things well and i waste a lot of time on some kinds of stuff and feel sorry for wasting the time.
@redsponge (557)
• Malaysia
16 Jul 08
I do monthly planning on my expenses. I will try to list out the expenses I need for a month and giving myself some allowance. I will put aside the extra as savings or for emergency.
