did you handle good your money? how?

Sweden
March 31, 2010 4:38am CST
i have problem managing money matters and how to budget.can you pls share your saving strategy...
6 responses
@Wizzywig (7847)
31 Mar 10
Set aside money for essential bills as soon as you get paid and dont use it for anything else. If you dont need it... dont buy it. If you need it but cant afford it, either buy it second hand or wait and save up for it. Forget designer labels and latest technology - no-one NEEDS either. Set your own style. Re-use/re-vamp/mend stuff instead of throwing it away & buying new. Switch to supermarket own label products. Good luck.
• Sweden
31 Mar 10
Thanks wizzywig for your advice..it means a lot..
• China
31 Mar 10
I have the same problem too,it is confused for me to manage my money,though my salary is not little,but i always feel it can't meet my need,and at the end of every month i don't have money to use,i feel very frustrated about this!what should i do,i must overcome this shortage!
• Philippines
31 Mar 10
Oh, I've the same problem from time to time as well. But I've realized that it's important to keep in mind that most of the things we spend on, we don't really need or we can do without. I was able to save the past few months by always always ALWAYS being mindful of my spending, and to not be tempted to withdraw more than what I need so I won't be tempted to spend. :)
@peavey (16936)
• United States
31 Mar 10
There are a lot of ways to save money, but it looks like you need to start with a real budget. Sometimes, just seeing where the money goes is enough to get people on the right track. Try this: For one week, carry a small notebook along with you and write down every purchase, whether it's a pack of gum or a new suit of clothes. Write down how much it cost to the penny. At the end of each day, add it up. At the end of the week, look back through what you spent money on and think about how much pleasure you have from it right now. Chances are, a lot of it will have been forgotten. Think about what you would do with the money if you had it right now. After you've gone through this exercise, take your expenditures and separate them in categories. Maybe you buy a lot of snack food, or home decorations, or jewelry. Write down each purchase in the right category and then you can see where the money has gone. Tackle one category at a time. Allow yourself half of what you've been spending in that category. When you think you can do that, go on to the next one and so on. When you've covered all the categories, go back and cut that amount in half and so on and on. You'll soon be more aware of what you're spending (wasting) and be better able to control it. Good luck!
@jeska87 (43)
• Philippines
31 Mar 10
There are times when I am able to save my money well, there are also times when I am not able to do that. But what I do to save is to get a chunk of my money and put it in another bank account. I don't carry that atm card with me. Then, I budget with the remaining money. :)
• Sweden
31 Mar 10
thanks guys for sharing your openion. for me its so hard to save money. as long as i think i have money. i tempted to get it and spend for unneccesary things.i plan to to save money for vacation..i hope you help me to have more idea he he
• Philippines
31 Mar 10
i have this little application installed in my phone. It has the same features as microsoft excel. It lets you list your expenses daily. It's more like a monitor so that you'd know where your money went after every day.
@ghieptc (2522)
• Philippines
31 Mar 10
I think buy those all needed and recycle, reuse your stuff like news paper, etc. It's good to be practical in our stuff.
• Sweden
31 Mar 10
thanks for the advice..its wiser to be practical anyway..since global crises this time.we need to be good spender of our money.riches it count and how you handle your spenses....they said.i hope i can be good savers