How to save money and what to do with savings?
By welawai
@welawai (102)
Mali
September 2, 2008 4:34pm CST
Do you have some methods to save money?
Money is the most important thing in life, yes yes there is love, dreams and other not material things but what can you do without money?
Man called Kurtzman said: There are more important things in life than money, but without money you can't get this things. And W. Somerset Maugham said: Money is like sixth sense without which you cannot make a complete use of the other five. I like this quotes and I belive in.
A couple of day ago I've readen a Parkinson's law about money- very interesting and so true. It simply says that no matters how much money people earn, they tend to spend it all and a little bit more. The really interesting thing is that if someone was earning let say 1,000 dollars/euro/another currency a month he or she could fill his/her basic needs + have some hobby and propably makes a little debt and when the same person start to earn about 4,000 a month he/she will have immediately more needs, cash is spend in no time and propably his/her debt is bigger than it was. So our desires adjust to our income.
The Law says also that If you allow your expenses to increase at a slower rate than your earnings and you save or invest the difference you will become finacially free.
So do you save your money? and what do you do with the savings? I started(4 months back) a three [iggy banks(jars) system and I just throw almost everyday some money in there(well - sometimes just 3 x 5cent(5cent to each)sometimes it's 1 or 2 euro)So far I have 3 x 22 euro saved. Well, not much but to have 66euro and not to have it's difference. What method do you use to save money, maybe to save bigger amounts of money?
2 responses
@Samanthavv (1380)
• United States
2 Sep 08
Right now, I don't have any money to save, but I know that I could start saving soon. I've decided to put everything I get away and start working towards building a nest egg. I need it. With one child, and another on the way, it dosen't hurt to have emergency funds!
@sublime03 (2339)
• Philippines
30 Dec 09
For me, I save money by putting a percentage of my money to my bank and maybe also my son's newly opened savings account. I really want to challenge myself to save more this coming 2010 so that I can plan my own family moving out of my in-laws house faster.
Now what to do with savings is something I have long gone dreamt of. I want to have my own home and everything in it bought out from my own hard earnings. Thus, I will be using all my savings to getting my own home and everything in it.