The power of saving
@Wild121212 (71)
Ithaca, New York
July 16, 2016 10:09pm CST
The power of saving can be a great thing. Many have tried and have said that it is hard but it can be easy if they knew how. The one thing about saving is that it can be done. I have read from different sources on how to save and many have said that it does work and they have saved a lot from doing it. From my own personal experience that one can save from different ways combined. I also like to add a little bit of saving to my savings account and allow the interest to be added and let it grow. Many don't see the worth of the penny until they have seen it in action. I have and I like it how it cold grows so fast when it is used in a great way and combined through saving in different ways. Many don't see the full savings from these ways but over time one can find a lot more money in their account or pocket. We like to watch our money grow each month. I like to put the savings into a savings account in a bank because I could earn interest which helps my money to grow.
The way I do it is using coupons and several different apps that can help save from groceries like saving star. Since my boyfriend and I have joined we have saved a combined thirty-five and up bucks. With saving star all once has to do is add the barcode numbers of their rewards card at grocery stores that are in their area and they can add whatever coupons that are in the app to their cards. It doesn’t take off the coupons at the cash register but adds it all up in the account due to them having to communicate with the stores to which coupons you have used with them being a third party. But after you saved five dollars and up you can transfer the savings from the account to your bank account or several other options. Some stores also allow you to add coupons to your card from their website or apps in which the coupon is taken off at the register at the time of the purchase. My boyfriend and I like to put the savings of the coupons into our savings accounts to add up over time with interest adding on each and every month.
Another way I found that helps is putting away a certain amount every week or every two weeks depending on paychecks and such. What might help is a goal in mind. It could be for an emergency fund, which is what I am doing or could be something like an expensive thing, for example, a video game system or a new computer when the old one is too old, out of date or broken beyond repair. Many different sources say like ten cents on every dollar you make or a percent of what you make can be set aside as the saving. Other sources say a set amount can help save and build on the net worth of someone. Another thing is called a challenge where you set aside an amount and every week an amount is added to the previous weeks savings. For example, the first week would be one dollar, the second week is two, third week three and so forth. There would be a set amount of time like a year with the final savings deposit be fifty-two. Or what ever amount decided upon.
2 people like this
4 responses
@sunilparthan (6302)
• India
17 Jul 16
As a banker and a financial adviser i can tell you it is not that hard to save small amounts every month. but for normal reasons you should not take that money out. keep on savings in small amount but aim for long period and keep a goal for that savings. it is possible.
1 person likes this
@Wild121212 (71)
• Ithaca, New York
17 Jul 16
most of it is just to sash away just in case if something happens but apart of it is for something that i would like to have. i like to do it that way. makes me feel a little safer,
1 person likes this
@sunilparthan (6302)
• India
17 Jul 16
@Wild121212 yes you should have a goal for the saving then you wont take it back usually.
1 person likes this
@Wild121212 (71)
• Ithaca, New York
17 Jul 16
@sunilparthan yeah i put in more then the goal. im a little OCD about saving. i match every deposit for the goal. like if i put in a dollar for the goal i put another dollar in just to save and let it add up.
1 person likes this
@shivamani10 (11035)
• Hyderabad, India
17 Jul 16
Generally, I do not like to save in cash. Monthly soon after receiving my salary I rush to a gold shop and purchase a 1gm gold coin. That has become my habit. I do not know how many are there now. I think it is a good investment. Small monthly investment.
1 person likes this
@Wild121212 (71)
• Ithaca, New York
17 Jul 16
thats what my dad does but with 2 dollar bills and 1 dollar coins dont know why but he does
1 person likes this
@Wild121212 (71)
• Ithaca, New York
17 Jul 16
i love saving. mostly just to see the interest that i earn every month. i like knowing that my money is growing. and my boyfriend laughs at me for saving change but it did helped us out a few times.
1 person likes this
@OreoBrownie (3755)
• Commerce, Georgia
18 Jul 16
I'm starting to save too. My mylot money is staying in PayPal and $40 a month will go into savings.