im earning 13k a month and im feeling really difficult to save the money

India
August 31, 2006 3:30pm CST
iam trying to save money but iam finding really difficult to save may be im not aware how to spend and when to control my self...i dont think i waste money simply...but i have some commitment where im ending up with paying only intrest evenit its not so huge but im totally confused......
22 responses
• United States
8 Oct 06
You make $13K a month and you signed up for side scratch on Mylot?
@joi1313 (192)
• United States
8 Oct 06
mylot a lot of fun
@culrun (315)
• Singapore
8 Oct 06
Open another bank account and transfer a portion of your income in immediately when you get your pay and refrain from withdrawing from that account. That helped me start to save. I had the same problem as you before.
@luckiest (282)
• Malaysia
8 Oct 06
Good idea too but if he can't control himself and withdraw from his another account also no point! He might olso spent money by using credit cards...
@luckiest (282)
• Malaysia
8 Oct 06
pass to me loh, I will keep for you...hihi.. I guess u r staying in big house and driving luxury ar right? only stingy people is able to save more money, try not to be too kind and alays wants to pay for the entertainment bill if u did..
• Australia
8 Oct 06
Personally, I think that's a pretty tidy sum to receive per month, just don't spend money on pointless items.
@kunal1702 (233)
• India
30 Dec 06
Where do u live?
@cjbart (20)
• United States
30 Dec 06
As mentioned in another post. There is no relationship between Income & Wealth Building. I have associates who mahke 5 x more than you and are in the samr boat. A person in your Income level has no reason to even use Credit cards. first off, are you in a self-employed business? if not get in any Homebased Business today. Mosy of my clients immediately Save $6,000 to $12,000 per year in Income Tax (US). Look at thes numbers. Start all over Income written down (Take Home) 10% Finacial Freedom Account 10% Fun Account, must be spent every 30 days. 10% Long Term Spending Account. Trips autos etc. 10% Continuing Education reading seminars etc 50% Neccessitie of Life 10% GIVE to others Account. Anyone applying this budget is guaranteed to accumulate Wealth. Quit paying the DUMMY TAX = Interest.
@SunnyDays (1070)
• Bahamas
25 Sep 06
Make a budget ..Find out where the money goes to and where you can cut down the expenses. Don't use any credit cards Good luck
@jtexas (527)
• United States
25 Sep 06
Most people do the mistake of making a budget. If you have a job that has a 401 k have them take some money out. This way you dont get taxed on it until you take it out. Second pay yourself first. Most people try paying their bills before they even pay themselves first. If anything get a money market account and have it auto withdraw. Importantly cut your expenses.
@blessonje (1651)
• India
25 Sep 06
wer u earn this much from..??
@Aali311 (6112)
• United States
25 Sep 06
I guess you won't be back on mylot and if you do come back can you tell me how to earn 13K a month.
@zyfro2k6 (391)
• India
25 Sep 06
i want ot earn how is it possible..
• India
25 Sep 06
First of all you should make a note on whereall r u spending ur money. Then keep aside u need the money to meet ur basic needs.After deducting some amount u want to save divide the rest by 30(no of days in a month)and spend accordingly
@jdduffer (129)
• United States
25 Sep 06
I think you are probably right, you are probably just not aware of what you are spending. My suggestion is that you carry around a little pocketbook for a couple weeks and write down everything you spend. Where you spend it and how much. Even if it is just a couple dollars here and there. Write down EVERYTHING. If you do that for about a month then go back and look at it you will be amazed at where your money goes and maybe it will help you on your spending, good luck!
• United States
8 Oct 06
You make $13,000 a month and you are having a hard time saving money?! What do you buy every month?! Most people make around $1300 a month!
• India
3 Sep 06
am earning 7k but i have many problems at last i dont have atleast 1 rupee to spend. when i was working for 3k i have enough to spend and i was fine. if the money increases then the problems also increases u have to manage both at a time.
@ssh123 (31073)
• India
25 Sep 06
Cut down all undesirable and unwanted expenses. Postpose all purchases for the next 6 months Work out cost-savings methods for the inevitable expenses Try to repay 1 loan per month so that you can cut down the interest amount.
@missyann73 (1454)
• United States
3 Sep 06
first of all, what type of work do yo do? if you travel, or have clients that eats into your salary. a lot of your spending probably has a way to do with your life style. let me know
• Australia
3 Sep 06
If I earnt that a month I'd be debt free. WOW. But having money sometimes you can spend silly I don't get how you're spending that much a month though...
@sivam123 (35)
• India
3 Sep 06
planning is a necessity of life whether it is money or life. if you do not plan how to use your resources you end up wasting a lot of money without any results. and there is also the danger that some others can exploit your largesee. here is a method to live extravagantly and at the same time same a lot of money. you sit and think what are your needs and allot an amount for each head and put them in an envelope and do not try to save anything out of these covers and spend them left, right and center. when you had planned and put the money in the envelop you keep some money for savings for a rainy day. try this method and you will find excellent results.
@labatt113 (401)
• United States
24 Sep 06
13k a month so do you buy a car a month? Maybe pay some silly price for a house. Buy stock so when you lose that job you have a place to go. I mean really