Do you save money every month?

By sofs
@sofssu (23662)
August 24, 2015 6:04am CST
I always allocate some money in our budget for our retirement plans. We will have regular pension and rentals from our homes when we retire maybe ten years fro now. However, I am still cautious and put away what ever I can for our retirement. Who knows what needs we may have then. I do not want to be dependent on anyone? Do you save regularly? Is it on a monthly, weekly or annual basis?
14 people like this
15 responses
TexanTornado
@TexanTornado (5573)
• United States
24 Aug 15
Yes, that we do. Each week money is put into our different accounts. We have set up different personal accounts, and we allot so much to each one. One is for our retirement, and another is our vacation account.
2 people like this
sofs
@sofssu (23662)
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24 Aug 15
Great Planning. No wonder we vibe so well. I have to learn a lesson or two from you Tammy. Vacation is one thing we have hardly planed for .. Our vacations are like at the spur of the moment..
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TexanTornado
@TexanTornado (5573)
• United States
24 Aug 15
@sofssu Why thank you. Well, come on over, I can teach you a thing or two... while you tend to my flower beds. Just teasing. Well, we enjoy vacationing, and having to dish up all that money when we get a whim to go on one, was putting a dent in our bank account. So we decided to create a fund just for it. It tends to work for us.
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sofs
@sofssu (23662)
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24 Aug 15
@TexanTornado it does dent but we generally have more funds for summer.. and we can manage it. Yup I still need to take those lessons while tending to the flower beds.
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Rosekitty
@Rosekitty (19368)
• San Marcos, Texas
25 Aug 15
I try to save something each month but seems I'm always helping one of my children out of bills, but i do plan on it soon!
2 people like this
Rosekitty
@Rosekitty (19368)
• San Marcos, Texas
25 Aug 15
@sofssu I hope so too!
TexanTornado
@TexanTornado (5573)
• United States
25 Aug 15
It seems kids always need help with something. I know mine do.
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sofs
@sofssu (23662)
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25 Aug 15
@Rosekitty Its hard to see our children in need .. I hope you are able to save more towards your future.
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kiran8
@kiran8 (15348)
• Mangalore, India
24 Aug 15
I do save some money on a regular basis and at the end of the year put it in a fixed deposit , so I am not tempted to spend it.I do this every year, renew the FDs again for another year..I agree that we need to be financially independent all the time..
1 person likes this
prashu
@prashu228 (37524)
• India
24 Aug 15
@kiran8 Very nice to see that you save on the regular basis. I wish I could do the same, but unfortunately the story will be reversed after shopping.. All the best keep saving till I meet you.
2 people like this
sofs
@sofssu (23662)
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25 Aug 15
@kiran8 That is a smart way to do things. I do something similar. Sometimes it is better to keep the money out of reach until it is a dire necessity. Great point to learn from you for those who need a tip or two to save.
1 person likes this
sofs
@sofssu (23662)
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25 Aug 15
@prashu228 Maybe you should first work on cutting down impulse buying
rebel_woman06
@SIMPLYD (90722)
• Philippines
25 Aug 15
As to our retirement my husband and will have our own through SSS when retirement age comes . But we do have our savings too for emergencies .
1 person likes this
rebel_woman06
@SIMPLYD (90722)
• Philippines
25 Aug 15
@sofssu Yes it's that . As private employees we gave our monthly contributions counterpart by our employers . At retirement age , we will have our pension from them as all retired private employees have too .
2 people like this
sofs
@sofssu (23662)
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25 Aug 15
@SIMPLYD Sounds good to me.. Do you get to contribute more than a stipulated amount or just the amount fixed by the government.?
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sofs
@sofssu (23662)
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25 Aug 15
What is SSS? social security system or some other thing? I personally would never depend on the social security.
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prashu
@prashu228 (37524)
• India
24 Aug 15
@sofssu I just think of saving , but never succeeded. I plan to save some bucks every month until I find a shopping mall or a shopping site with some offers that's all my savings plan will be shifted to next month and so on.
2 people like this
kiran8
@kiran8 (15348)
• Mangalore, India
25 Aug 15
@prashu228 As long as the going is good, you get a salary every month which you can spend, things will be fine but if you have a calamity it becomes really tough to deal with it without money.Ideally the least you need to put away is at least six months of your salary so that you can fend for yourself for that long until either you find another job or take care of your financial problem !
sofs
@sofssu (23662)
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25 Aug 15
prashu228 How about shifting fluid funds every month to an account that cannot be broken for a few years. I actually divert the money from my account into a special account in the bank. It works for me.
youness darraa
@soltane167 (1)
• Morocco
25 Aug 15
Each month, I 'trying to save my money, but I find that my money out of print at the end of each month, but in the end I could barely keep some of that money now
Anna
@LadyDuck (471496)
• Switzerland
24 Aug 15
I used to save a little every month, I still try, but I can save very little now.
1 person likes this
Lee Ka
@kaka135 (14931)
• Malaysia
24 Aug 15
@prashu228 I remember when I just started to work, my brother (who is good at financial planning) asked me to just allocate a percentage of my salary to saving first, say 20% whenever I got the salary, then only allocate how to spend the rest. If I have extra at the end of the month, then I can save them too. But, the point is to put away the saving first. But I didn't follow what he said.
1 person likes this
prashu
@prashu228 (37524)
• India
24 Aug 15
@LadyDuck You are better than many and especially me. I don't know how to save you are good at least you are saving little by little and one day you will save more.All the best
2 people like this
sofs
@sofssu (23662)
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25 Aug 15
@LadyDuck I was told that we need to save 30% of our income as retirement funds, i could never do it. I saved what I could.. and it seems it would be okay when we invest the money wisely. Maybe you are also fine.. saving is a great habit. even if is little.
Lee Ka
@kaka135 (14931)
• Malaysia
24 Aug 15
I used to save money every month when I was working. But now as a work from home mother, a almost single-income family, we don't have much to save though we don't spend much, so at the moment NO. I'd like not to dependent on anyone too.
1 person likes this
sofs
@sofssu (23662)
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25 Aug 15
@kaka135 I understand that it could be really hard.. but really worth it. Trying putting away a little every month..it will really help.
AnjaP
@Rollo1 (16679)
• Boston, Massachusetts
24 Aug 15
I really have no savings, and nothing left over monthly to save. I should really put you in charge of my money, you seem to do all the right things.
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sofs
@sofssu (23662)
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24 Aug 15
No I don't think I do all things right butt I have learned my lessons the hard way.
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AnjaP
@Rollo1 (16679)
• Boston, Massachusetts
24 Aug 15
@sofssu Oh, well that's the problem then. I never learn my lesson.
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sofs
@sofssu (23662)
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24 Aug 15
@Rollo1 Maybe if you were where I was twenty years ago you would have learned much more than I did.. anyways I am thankful for having learned that and being able to manage my resources extremely well. I am proud of what i have achieved in the areas of finances.
TheRealDawn
@dawnald (85146)
• Shingle Springs, California
25 Aug 15
I have money going into a retirement plan. Other than that, no, since I got laid off 3 years ago, and took a pay cut, I haven't been able to save. Now that I've taken a job that's more money I might be able to.
1 person likes this
sofs
@sofssu (23662)
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25 Aug 15
@dawnald Glad that you have the opportunity now and willingness to save. It always helps us through our difficult times.
inkyuboz
@inkyuboz (1392)
• Mandaluyong City, Philippines
24 Aug 15
My monthly savings are actually non-existent. LOL. Whatever's left of my money at the end of the month always gets invested on the stock market.
1 person likes this
prashu
@prashu228 (37524)
• India
24 Aug 15
@inkyuboz Stock Market wow an investor here. How is your investment going? I heard that stocks are risky to invest that is why I never tried to check. All the best in your investment and do it wisely.
2 people like this
sofs
@sofssu (23662)
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24 Aug 15
@inkyuboz Wow you invest in the stock market? Has it been profitable to you? I am extremely scared of such investment. I take the least risks when it comes to investments.
1 person likes this
Belle Starr (Iz)
@BelleStarr (61102)
• United States
24 Aug 15
We are already retired but we are still saving. With the chance of living another 30 years or so we need all the money we can get our hands on.
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sofs
@sofssu (23662)
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25 Aug 15
@BelleStarr That is so true.. we need to save even after we have retired. You are a wise lady. Our needs keep increasing as we age and things become more expensive than they were when we were younger.
Cristian Ichim
@Cristi_Ichim (3743)
• Bucharest, Romania
24 Aug 15
No
1 person likes this
sofs
@sofssu (23662)
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25 Aug 15
@Cristi_Ichim I can understand your answer from what I have known about you.. maybe later.
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sameer naeem shaikh
@sameershaikh (7)
• Aurangabad, India
25 Aug 15
yes, i save money. as i am a student i don't get lots of money but i am trying to save RS 50/DAY. per month i save 1500-1800, i think it will satisfie me in future studies.
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sofs
@sofssu (23662)
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25 Aug 15
@sameershaikh That is absolutely fantastic. Its a great habit to learn while you are young. I wish I knew about saving when I was younger.
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Janindu Shamika
@Janindushamika (22)
• Sri Lanka
25 Aug 15
No.I spend my money for my education things and to eat any thing.We think we waste money for eat
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sofs
@sofssu (23662)
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25 Aug 15
@Janindushamika I would think spending money for education is an investment. Maybe you are hungry and need a snack or two now and then.
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Janindu Shamika
@Janindushamika (22)
• Sri Lanka
25 Aug 15
@sofssu I agree with you.Spending money for education is an investment.I want to say I don't save money.
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scheng1
@scheng1 (24649)
• Singapore
6 Oct 15
I save for investment. I like to read annual report, and visit investment forum to learn from the experts. I like to see what the others are investing, especially those successful ones who can afford to retire before the age of 45. These are the ones who work hard, save and invest. I learn from those who are working for others, not those born rich or start a business and get rich.