We are currently in the position where we can save about $100 each month. This is less than 10% of my husband's income, but it is better than nothing. When I return to the workforce, we fully intend on living solely off of my husband's income while saving and investing most of my earnings. I hope that you are able to continue to save some money. The peace of mind that comes with financial security is priceless.
I try, but I'm telling you, its easier said than done Especially this day and age, when they advertise so many things I don't need... but can't help but want! I am trying again this month, putting aside 50$ every pay-cheque. But its hard putting it in a place I won't touch, so I started looking into a legitimate savings account at my bank! Hopefully I'll persevere this time.
Saving is a great thought that needs to be cultivated in the minds of our next generation. We must save everything like water, electricity, gas and also definitely money. I have been doing per month saving. This is a recurring deposit linked to my bank account. Since my responsibilities are lots I have decided on a small amount, but I think what is important is to get into the habit of saving. We can start from a small amount & then gradually shift into a big amount.
I do put money aside each month for the future. It's not as much as I would like, but making a commitment is very important. As my income increases, I will put more aside.
Maybe I can save 60$ at most every month, not to mention my extra savings and income from my online jobs. At the end of the month, when my mom gives me my allowance, I see to it that I already split my allowance in half so that I can already put my savings for that month in the bank. Its really helpful to prevent myself from spending my supposed to be savings.
It's very difficult for me to save up, seeing as the economy around my town is severely poor. I'm from a working class family and currently don't have a job, so the most I can save is arounf $20 a month (lol). However, I think around next year I will have a job and be able to start saving a lot more. I plan on doing a lot of work online and in real life, so hopefully it'll pay off! I'm good at saving when I have a reasonable income, otherwise I'm just tempted to spend it all.
I do try to put in a little side money each month. I am an avid gamer, and video games aren't cheap. I usually budget for 4 new games each year. That's about all I can afford.
In the past I saved at least 30-40% of my monthly income. Now that I work from home, I tend to save either 5-20% of my earnings. Its very important to save money for a rainy day and towards retirement. I would not want to burden my child with any financial problems later in life.
This is the same mentality I have. I hope that I'll get into a really great habit of living within my means. Cooking on a budget, living on a budget, having fun on a budget - but not doing it in a way where I feel like I'm missing out or settling for something less when I can afford more. I'm saving a little bit and I hope that when my income increases, the only thing that increases with is my savings! I will live and play under the same budget as before, leaving me more "unclaimed" money - straight into the bank that goes! Good luck!
The best way of saving is to invest your money in mutual fund which is in my opinion is the best saving and investing scheme and with extra profit. In this investment your money will be secure and your future will be riding on high for sure. So you must invest in mutual fund.
Saving money every month is really a good idea. Investing the money that you have saved in the right investments us an even better idea.
I keep on trying to save money every time I receive my paycheck but the money saved will eventually be spent. I always catch a reason to spend. Hmm.. I Guess I lack the will power to be successful with this.
Here's the thing with money... it's supposed to be spent. If you use it, you hopefully use it on something that you value and something that was worth it. If you have a reason to spend it, then you should unless you know in your mind and heart that you probably should not. I think that's the thing about people who are obsessive about saving money, pinching pennies, and being cheap (as opposed to being smart shoppers or frugal)... they spend so much time saving money and are so reluctant to spend the money on something they need, want, or should have.
I always try put something back whenever I go shopping, alot of the time I will put whatever change I get back into my little savings can, and I don't get it unless I really have too, and it has worked out fine for me so far!
I'm really finding it difficult to save anything this year. As soon as one birthday is over, another one is around the corner. To be able to start saving again i', going to have to cut back on my own luxuries, and I don't have many of them left as it is.
Yeah I guess the main reason why we work hard is to have money to spend. Thanks for explaining the big difference between "being cheap" and "smart shopper"! I never realized that!
You can always start by putting in 5% - or even less. Get yourself on a system instead of saying "you never get around to doing it." Of course you will never get around to doing it if you don't start it. Once you do that, increase it slowly until you reach 10%. You need to ease your way into savings, or you will not be able to do it without feeling like you are missing out on something. As far as "special offers" that take away from any savings program you try to do, try to be a little more conscious of that. Or, better yet, give yourself some type of budget every month for discretionary spending. That way, you don't have to miss out on offers that you really want to partake it, you still get to save something (which is better than nothing!), and you can teach yourself how to put money away.
I try and save something every month. Sometimes is will be more, while others it will be less, but the more money I am able to save the more confident I begin to feel financially. It isn't always possible to save, especially at the moment, but if you can put something back for later, then you should. Sometimes I might end up dipping into my savings but only if I have an emergency like some work that needs doing around the house, and that's the kind of thing I save for, so I don't mind doing that.
I do the supermarket shopping online and I've started to take a second look at the basket and see what I need and what I don't. Doing that always helps me to save something. I also save my lose change, usually I save the really small bits of change that I wouldn't want to use in stores as most of them hate small change. Doing both of those things can easily add up to £20-£30 a month. It might not seem like a lot, but it adds up and every penny counts at the moment.
