Question of the Day- Saving Money
By DB
@dgobucks226 (35778)
May 23, 2019 5:56pm CST
Are you good at saving money? Do you put a percentage in a savings account or other type of money fund? Or do you spend it as fast as you earn it? Are their certain life circumstances which effected your ability to save?
For me I have always tried to save money I earned. I was never a compulsive buyer and always looked for bargains rather than spend money on the most expensive or in vogue items. Of course, even with those habits it does not guarantee wealth. Many factors like your chosen profession, how early you began saving, health issues, being out of work, and unexpected emergencies can deplet one's savings in a hurry.
So how successful have you been at saving money? If you have been what was your secret? If not I can relate, lol.
Photo-money-rates.com
19 people like this
19 responses
@ScribbledAdNauseum (104628)
• United States
23 May 19
I like to think I am good at saving money but I think that I could do a whole lot better about it. I used to be a whole lot better about it but not so much anymore. I had $1000 in savings at one time but that dwindled down when I had to use it for expenses. Now I try to be a bit better about what I save and how I save it.
4 people like this
@dgobucks226 (35778)
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25 May 19
I can understand that. Especially if an unexpected expense arises you did not count on. It can really make it hard to save.
One thing I started doing was to keep a journal with my monthly expenses vs my income to keep unnecessary spending under control.
1 person likes this
@ScribbledAdNauseum (104628)
• United States
26 May 19
@dgobucks226 That's a good idea, keeping the journal will keep you accountable for the money you spend on frivolous things.
1 person likes this
@dgobucks226 (35778)
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28 May 19
@ScribbledAdNauseum Yes AmberLynn, it definitely helps!
2 people like this
@just4him (317315)
• Green Bay, Wisconsin
24 May 19
I'm dependent on the government who has a way of keeping you so poor you can't save. My best savings come from my interaction on myLot. I keep it in my PayPal and let it build up, though I do have two small bills that come out of it each month, so if I make at least that amount plus, I will save a little bit from that.
3 people like this
@just4him (317315)
• Green Bay, Wisconsin
25 May 19
@dgobucks226 That's good to do. I know I could probably get rid of a few things in my life - Netflix, Hulu, CBS All Access and my missions donation, and my hair appointments. However, if I did that, I wouldn't have anything to watch on TV. Cable costs more than those three combined. And we know there isn't anything to watch on network television. Also with our time being what it is, who has time to watch network television when the program is on? I went for three months without a hair appointment. That will never happen again. So, unless I get rid of my car and do away with the car insurance, which is also not an option. I don't have anything left at the end of the month. I guess I could stop eating. That might help. 
1 person likes this
@dgobucks226 (35778)
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25 May 19
Yes, relying on the government for anything can be problematic. One thing I started doing was to keep a journal with my monthly expenses vs my income to keep unnecessary spending under control.
2 people like this
@dgobucks226 (35778)
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26 May 19
@just4him I totally get your point of view. Life can throw us some curves at any time. I am dealing with medical bills from a emergency hospitalization I had in December. As they say life is hard. I guess it comes down to what are priorities are in life. Although I would not recommend giving up eating 
Maybe go with getting rid of the Netflix or Hulu instead (just kidding) 
Enjoy your holiday!
Maybe go with getting rid of the Netflix or Hulu instead (just kidding) Enjoy your holiday!2 people like this
@xFiacre (13179)
• Ireland
24 May 19
@dgobucks226 I’m a lot more successful at saving since I was able to move money about using my phone.
3 people like this
@dgobucks226 (35778)
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25 May 19
That is a good way to go about it. I try to put aside any leftover cash each month to put into my savings account too. I also track all my expenses for the month. It definitely has made me more disciplined with unnecessary spending.
2 people like this
@kobesbuddy (78871)
• East Tawas, Michigan
24 May 19
I grew up in a home where we had very little money leftover. I started babysitting at 13 and saved like crazy! My mother was a very good example, she always balanced the budget and made ends meet. My father grew up poor, he never had money to squander. Mom would give him money for his wallet and it would just sit there! Neither one of my parents were selfish, compulsive buyers. I'm so glad they weren't deep in debt and they always paid their bills on time. I learned to save money, instead of spending it foolishly.
2 people like this
@kobesbuddy (78871)
• East Tawas, Michigan
26 May 19
@dgobucks226 If either one of my parents spent foolishly, we wouldn't have been able to keep our home and have enough food.
1 person likes this
@dgobucks226 (35778)
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25 May 19
I see what your getting at Kharla. Not having money I think makes you appreciate it's value more. Your less apt to waste it on frivolous spending. In a way, it's like saving. And being in such a household taught you some useful insight into the value of money and saving. 
1 person likes this
@dgobucks226 (35778)
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25 May 19
Very wise words. I make an effort to follow that advice myself. Credit cards can cause overspending if your not careful.
1 person likes this
@CarolDM (203422)
• Nashville, Tennessee
25 May 19
@dgobucks226 Yes they can get you into trouble.
1 person likes this
@KrauseHome (36447)
• United States
29 May 19
There for a while we were trying to Save $$ and did fairly well, and then things happened. But we were able to go on a nice trip for our 20 yr Anniversary. Now just need to get over this Financial hurdle and see if we can get back on the right track again.
1 person likes this
@dgobucks226 (35778)
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29 May 19
Yes, I can definitely understand how financial issues come up unexpectedly which affects your saving.
@hexeduser22 (7418)
• Philippines
24 May 19
It's not a walk in the park; saving money is difficult. There is always something that comes up when you save money, but its always better to have money when somethings come up.
I invest money in passive incomes like the stock exchange. In that way, it will grow as we grow.
1 person likes this
@hexeduser22 (7418)
• Philippines
29 May 19
@dgobucks226 Yes compounding is the key. Otherwise, you lose a lot more than you gain.
1 person likes this
@dgobucks226 (35778)
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25 May 19
The stock market is a wise investment. Over time with compounding those savings can really add up. Having a nest egg set aside for emergencies can relieve a lot of anxiety of bills.
And I agree. Saving can be very challenging.
1 person likes this
@Jlyn10 (11965)
• Malaysia
2 Jun 19
@dgobucks226 Thanks. It is all God's blessings. 
1 person likes this
@dgobucks226 (35778)
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2 Jun 19
Yes, we must have our food You have done very well with saving money. Congrats
You have done very well with saving money. Congrats 1 person likes this
@LadyDuck (472121)
• Switzerland
26 May 19
@dgobucks226 I was his assistant even before we got married. We have worked during all our life together.
2 people like this
@dgobucks226 (35778)
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25 May 19
Now in the realm of saving and retirement you marrying your husband produced an extra bonus (sorry about the pun)
2 people like this
@cacay1 (83595)
• Cagayan De Oro, Philippines
29 May 19
I had big savings in bank before, but I was robbed by a friend.She stole my ATM containing the pins and she went away to other country. My heart bled so much that time just imagine that amount gotten P 385,000 ( more or less $7,000 US dollar) . This time, I started to save, still small, but at least there is something to do for the rainy days. I need to be extra careful this time.
1 person likes this
@dgobucks226 (35778)
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29 May 19
Wow, what a terrible thing for someone to do. Money can cause people to do some really unconscionable things. 
@FayeHazel (40243)
• United States
24 May 19
I seem to swing between scrimping and spending. I'm trying to find a balance. Actually that's sort of how I do with dieting, too.
1 person likes this
@FayeHazel (40243)
• United States
27 May 19
@dgobucks226 Ah I bet! It makes a much bigger impact when you see the money physically going out.... very good advice
1 person likes this
@dgobucks226 (35778)
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25 May 19
That is a very good analogy. I bet many people struggle with both. I try to budget my expenses by using cash for many purchases. You'd be surprised how disciplined you become when you don't use the plastic 
1 person likes this
@porwest (92748)
• United States
4 Jul 19
I am very good with my money. I never earned a lot of money, but I learned how to save, and how to invest, and learned many of the ins and outs of the stock market. I remember my grandfather looking at the DOW and other indices dropping and said, "How are you doing now, big shot?" I told him, "I am making money." He thought I was full of it, and I went on to explain to him the difference between taking a long position and taking a short position and went on to tell him people in the markets losing money are doing so mostly because they don't know what they are doing, and don't know how to hedge. Most people save SOMETHING, but fail to realize it's not enough to save. If you have not learned how to GROW your money, you will never get ahead.
1 person likes this
@dgobucks226 (35778)
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6 Jul 19
Very true compounding and taking a long view in the stock mkt is the way to go. Reinvesting those dividends/earnings over time adds up. Like the tortoise and the hare slow and steady eventually will win..
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@dgobucks226 (35778)
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25 May 19
That is a great way to do it. And overtime that 10 percent will really add up!
@dgobucks226 (35778)
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25 May 19
A smart mother you have! Yes, spending carefully and keeping out of debt are important keys in saving money.
1 person likes this
@jaboUK (64354)
• United Kingdom
24 May 19
I was pretty good at saving money when I was younger. It stood us in good stead as when my husband was taken ill abroad we had a lot of medical expenses and it cost a lot to get him home. If I hadn't saved I don't know what we would have done.
1 person likes this
@dgobucks226 (35778)
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25 May 19
Very wise advice Jabo. Saving for "a rainy day" emergency is so important. I had a recent hospitalization and having money put aside definitely softens the blow of those medical bills.
1 person likes this
@acelawrites (19272)
• Philippines
28 May 19
I always try to keep a certain percentage of our earnings, even when I was younger. I kept it in a savings account, but as years go by, we used it too. But at least we do not have to borrow from other people. Now am trying to save a little from my husband's monthly pension.
1 person likes this
@dgobucks226 (35778)
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29 May 19
Savings a little at a time is a good practice. Just settings aside the smallest amount eventually it will add up
@JohnRoberts (109846)
• Los Angeles, California
24 May 19
Discipline is a key reason. Self control. Paying attention to finances.
1 person likes this
@dgobucks226 (35778)
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25 May 19
Discipline is a key to so many things in life isn't it? Many lose that control especially when they charge everything they purchase.
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@dgobucks226 (35778)
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25 May 19
I can relate to that Danna B. There were times when I was laid off and my savings were depleted. Sometimes savings in those situations are impossible.
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