What will you do? Save, invest or spend most of your money in 2009?

Hello thebeaddoodler, I think it's always the best when we have enough to live for the next days/weeks or months, otherwise it would look much more severe for us. Sure, if we could invest some money somewhere else it's much better (if the stock market wouldn't go down ). Is there no way to put around 10% of your income in a saving account? This is an advise that is given by many financial money adviser around the globe. Usually we should do this at the first day when we receive the paycheck - the paying yourself for the future-account! I did very well with this method and at the end of the month i had much more on the saving account then i thought. Hope i could give you some hints for having an easier financial life. Enjoy the time in myLot!

Hello sophia1984, you work for company since one year and didn't get any holiday until now? You earn there already so much money because you work each day very long. I hope you can get your holidays soon, so that you can travel with your friend. Where do you want to go? Enjoy the time in myLot and your holidays, but save a little bit for your future, too!

Hello missybear, i think there are quite some good saving accounts available in the USA because the banks also need more cash than they can get from the federal reserve and from the government. I would suggest you look for a promotional offer from some online-banking accounts. (in Germany these accounts give you up to 5,75%, usually you get only 2%, some are time-limited for some months, some require a minimum amount of money). Usually you can open them everywhere by sending them the form, they approve it and send you the number of your account. Then you just transfer your money there and within 3 days you would get it back into your normal checking account when you are in need of money. I think looking for bargains in ebay or amazon is quite good if you have to live on a budget. Not to forget the saving coupons which you can get for free from the internet. Some persons also like to negotiate prices. Their method is to discuss for some time for a lower price and then they pretend to walk away (usually this works well in the "smaller" store, i've tested this for bags and shoes). Which techniques do you use to stay in your budget? I think some of the myLotters would like to read from it, too! Would you like to share some of them?

Hello frederick42, i wish that you can achieve your goal of saving as much as you can, so that you have more money for the future. I think spending is more severe than saving because you can fulfill bigger dreams with the savings than with a small amount that you have left at the end of the month. Which businesses do you think you could invest after you have saved enough money? Enjoy the time in myLot, and keep on saving!

I haven't really decided yet, but I know that doing something is better that doing nothing at all. I have a savings account at ING that is not too bad. I also have a ROTH IRA at my credit union, but that is about all I have going on with saving right now.

Hello goldeneagle, where do you want to invest your money? I think your interest rate in the States are nearly at zero since the last weeks. Someone there wants you to spend the money instead of saving for worse times . I believe saving in the USA is only possible buy buy non-branded items because from the interests you'll loose more money on the saving account than what the inflation will deduct. Have a great time in myLot!

I've glanced through the tasks but I'll have a more detailed look now, haha!~ Yup, niche is the keyword

Hello zweeb82, if you find some good money-making opportunities or niche where only you can succeed with less competition than this would be a great chance for you to make really more money. Do you have some of this opportunities or which kind of business do you want to invest (stock market, forex, options, warrants) for the quick returns? Have good luck with your investments and perhaps here in myLot with the new earning opportunities called Tasks

well its not so much i dont know how to do it but the amount of money coming in has changed drastically and then new expenses im having to get used to driving me crazy

Hello moonlitmagikchild, i hope you can achieve this goal or New Year's resolution for 2009. And i hope myLot is a little helper in the way of earning some extra cents each day! Do you have any tips for yourself to manage your finances? Enjoy the time in myLot!

ya got to be kidding of making enough here to pay my way. and here gas is going up again and that take most of my money . also this year I might have to stay in a motel. As my moms home might be sold by then. Or if not the ones staying there might not want me to camp out in the back room like I did last year. Yup some companies are like that take it and sell for less than worth and they really dont get their money back. Silly thing for them to do.

Hello Lakota12, i think it's getting a problem in the USA with the persons who are already behind their bills. They get more and more pressure from companies who look for the money (for the companies they have the "behind bills"). Some of them are not that human and wait for some more days or weeks. They just take what they can get from these persons household and sell it, no matter which price they get for it, just to cover the bill of this company. Hope you can save/earn your petrol money from myLot for the family reunion. Enjoy your time in myLot!

Hello ajithlal, i hope you do already well with paying down your debts and the other unpayed bills. I guess it's really difficult to pay bills when you lost a quarter of your earnings. Did you found some new money making opportunities which could help also other myLot members to reduce their debts? Have a great time in myLot!

Your views are also practical and you should act accordingly.

Hello dpk262006, it's all about the ability to get used to the amount of money which we have each day, isn't it? Sure, you could say we shall enjoy the actual day and not looking for the next day like the birds or other animals are practicing it each day (and Jesus said something similar, that God would lead us on our way through these times). From this perspective it could be true but for me, i'm between both seats. Better to have something for the next year, too, especially when you have in some weeks a little baby boy, who needs some more money ! Enjoy your time in myLot!

Hi cornyman! haha..I am still thinking what type of small investment that will yield good enough profits for me. haha..if I can squeeze my brains for a potential and wise investment, I will let you know! lovelots..faith210

Hello faith210, i think you're right in many points. Investing can be dangerous but there are also many opportunities because of these uncertainties. Usually this time gives you the biggest returns if you like to risk it . In which things do you invest where you only need "small capital"? Any suggestions for us or me :-) Have a great time and enjoy the time in myLot!

Hello suman2008, that is a great news that you can start working in the next months. I hope you like your team members and you have a good start then in August 2009. As an advise i would like to say that you should start with the savings process immediately from the first paycheck. Usually this gives you a good opportunity in watching how much you really need when you deduct 10% of your income monthly and afterwards anything that's left at the end of the month. I drove very good with this strategy. You have to see the deduction (saving) as a payment for your own bright future, your family, perhaps kids and your retirement. Enjoy the time in myLot and keep on saving!

Hello agrim94, that's very cool, that you want to invest in the indian stock market as far as i read the news in the last week there is a massive problem with balance sheets in India. In particular with Satyam, which means TRUTH in english, isn't the name funny but the story behind is a catastrophe for the investors who lost more than 90% of their previous value. I would take care if there aren't more such cases. We had this in Germany, too in the year 1999 - 2001 with the Internet hype. And suddenly there weren't any income that the company made but losses and the investors loose also 90 to 99% of their money. Take care when you want to invest, if they cheat on the numbers you'll only know if somebody can find the truth behind them. But this is usually only known by the CEO, CFO and some higher positioned persons in the companies . Enjoy your time in myLot where you don't get cheated but payed when you reach the 10 $ mark!

Yes Satyam computers has gone bad abd cheated but thats true all over the world, England, usa or any country that have strict controls and Enron is a big example of this in Usa. It created false balance sheets and took billions from the company and had lots of fun. no bank defaulted in India yet and India is still growing 7% and Govt hasn't bailed out any company read no company has been begging govt for alms like in west where every company or bank is on knees asking for money from govt. So i think India is still better place to invest.