saving my money
By 00fear
@00fear (3216)
United States
August 11, 2012 4:00am CST
Hi, I wanted to ask if its okay what I'm doing in saving money. Okay this is what I do when I make money.
1.When I get my paycheck from my job...actual job, I put half in my savings and half in my checking.
2.The money I have in my checking, I spend it on things I really need (errands, sometimes pencils, etc) and with the savings, I use it for things that I want (vacation spending, plane ticket, etc).
3.I also put my lose change when I buy with dollar bills lol to my piggy bank and also the money I earn online, I give half to my mom but also put my half to my piggy bank. With that money, I use it for things I want but don't really need (electronic gadgets, some appliances like snow cone machine, etc) and of course, if I need it the money from my piggy bank more (due to bad economy, etc) I would save it for really important things.
4.I usually buy weekly snacks like chips and soda. I spend like $3.00 for it, when I don't buy a week of that or things I normally buy, when I don't buy them, I act like I'm buying it but the difference is I put it in my piggy bank. For example, if I don't buy chips, I put $3.00 in my piggy bank instead of giving my money to the store, if I decide to eat out but prefer not to, I put like $5-$7 to my piggy bank instead of giving it to the restaurant, etc. Get me?
Am I doing a good job or a bad job in spending money and of course, I have money for my education and more important things like that. If not, can I get tips in saving money the proper ways (of course in everyone here's opinion). Does everything I'm doing sound okay to do, maybe only some, etc?
Thanks
5 responses
@neorich7 (19)
• Guatemala
11 Aug 12
well, it is not bad to save money because obviously you don´t know if something terrible could happen tomorrow, that's why you saved that money for if you face hard times. Well I read a book that was very good that oppen my mind about money and that book was POOR FATHER, RICH FATHER it was very good and taught that money is not only for saving it. In fact, when you save the money in your saving account you cannot gain too much like if you put the money working.
For example: you buy a guitar that you paid 200 dollars on ebay and you sold it for 225 which was better.
You know there is a lot issues with the money because the more you earn the more you spend the money which is wrong.
I read a story from this book about a girl who got her car from the profits of sellings and most of the times our problems are that we spend the money that we still don't have.
EXAMPLE: Let's say that you buy a car in 6 payments and you have money for the first two payments but then you loose your job and you can't pay THE MONEY THAT YOU EXPECTED TO HAVE FOR THE NEXT MONTHS is not in the present now.
Well, the best thing to do is to have your money active and the best way is to have your own bussines so if you are planning to buy a car DON'T BUY IT instead use that money for bussiness see one thing that you are good at and work on it the POINT IS THAT YOU NEED MAKE THE MONEY WORK FOR YOU and that is better than saving money in the bank.
BELIEVE YOU CAN DO IT JUST FOLLOW MY ADVISE.
@bm1b4by (82)
•
11 Aug 12
You are doing a heck of a lot better at saving than I am. I do have times when I don't spend money at all, but when I feel like I want something I'll just go for it (especially if no-one can talk me out of it) haha, keep it up, you're doing good in my opinion
1 person likes this
@judelen (428)
• Philippines
11 Aug 12
Hello! I think is that what you did is absolutely correct, I mean i like the way you are saving money. But saving is only saving but no interest. Well if you have enough savings and ready to invest it could be more better. Investing is different from savings. If you have time you can go to my profile and visit my blog about investing i think will learned more things there. But i appreciate the way you budget your money and time too. Just go that way...
@toniganzon (72517)
• Philippines
11 Aug 12
You are better at budgeting your money than me. I think you know quite well what your priorities are and how to spend your money wisely.
@AgentGulaman (3546)
• Philippines
11 Aug 12
All of the things that you are doing is jut the first step to it. You are in the right track, but you still have to do something different to get to the next level. Save like how you do and then invest what you save. That's what is missing out. You just don't plainly save as the value of your money will end up eroded by inflation. Do the things that you do and then invest it whenever you can.
