Money Saved Is Money earned.

Hi sukumar, I agree your idea, if they don't keep saving, though they earn a lot, there won't be any saving also. One of my friends disagree totally as he thinks that money is through earning from saving, thus his expense is not so wise, liking spending on the unmeaning sociality. He thinks that money could be returned if he invested this way. As a matter of fact, seldom chance could come to him just because he did such a behavior. By the way, I see that you don't respond to anyone who give your a comment or rate anybody who commented on you. I think it would help you to increase your earning if you are active on the discussion you posted.

That is so true, and also we do not have to pay sales tax on money we do not spend, which gives us more savings.

Well, for me, the easiest way it seems to be able to save any money, is too hide it in a drawer, etc. for a rainy day and then from there try and keep track of what I have. Especially since my husband and I like to go get away for a day, this is a Good thing for sure. We are eventually trying to find a way to get $500 together and put in a CD again if it gains more than what it would be in savings, or opening a seperate Savings just for savings that we could not touch that easily.

You got some point on that too. But I have a different opinion on saving. I think saving along will not even help the economy. Not spending much has its drawbacks too. The economies of the world relies on spending. Consumer spending is needed to drive the economies. This also circulates money and services alike. Spending is good for economies. However, saving is needed for individual persons. However, it should not be limited to just saving, but also investing. People should help the economy by investing in businesses, the market and real estate. That is how the economy grows, if people learn to spend, save and invest at the same time. The notion of too much spending is bad is popular. But in reality, spending is what drives the economy.

Hi friend, i agree with you, we must spend our money wisely to avoid financial issues. We don't get any benefits by spending our money for luxury things. Cheap and best things always gives more satisfaction to us and saves our money a lot

I'll recommend an excellent blog on the subject "Get Rich Slowly" :) http://www.getrichslowly.org

Exactly. We are on a very low income for Canadian standards, but we live modestly, so we are able to save money. We spend wxtragently on a weekend vacation now and then, but not often. We sort our money into various categories. Rent Monthly bills Monthly expenses (food etc.) Goals (save for a vacation) Emergency (money incase something in-planned comes up!). This works very well for us.

I agree. People ask me why I save so much and "deny" myself the pleasures of life. I don't. I buy what I need and sometimes spend a small amount on something trivial that brings me pleasure plus I give to causes I believe in but I save nearly everything I can. It really came in handy when a family member had an emergency a few months ago and I was able to come up with several thousand dollars to bail them out. More recently I needed another few thousand to fix leaks in my basement so my house would sell. I had it in the bank, saved over the years. I have avoided borrowing and getting into debt and been prepared for emergencies--my own and my family's. It feels good to not have to borrow money and to be able to help my family because I save instead of spend my extra money. Money is meant to be used, you can't take it with you when you die. But you'll never have it to spend on things that you truly need if you don't save.

Hi Kumar, indeed saving money is important to us. The more money that we are able to save is better for our future. Because we never know when we are in need of lots of money. Since nowadays money is hard to be earned, i prefer to only buy things that are necessary only. I make sure that i spend my money wisely every month. Even, i had started to educate my child to learn to save the little money that i give him.

hi sukumar,if we think you were right,but this happens only with the people who want to lead a simple life by spending money according to their needs,mostly this happens with the people who are earning by working hard.and who know the need and value of money,this will be entirely opposite with the rich and billionaires they spend more and more to show their status in the society they spend much on the unwanted and the highly expensive items to show their......,whether they may be useful or not.

yes your right sukumar, we need to live a simple lifestyle accourding to our means/earning.we need to budget and save for our future retirement, but for those who are millionaire and billionaires they are opposite, they spend spend a lot of money extravagantly,because they have plenty of money,money works of them.

I think saving is not earning . We have to invest our money to earn more , what you say ?

Your right, we should saved up our money. The only way we could succeed in life is to learn how to save. Living extravagant is fine if you got the money to spare but it would be better if it was use for something better. Simple living is the best way on how we should live, no extra worries and you do a honest job earning money to support your everyday expenses with a little bit of extra for something else.