How do you make savings?

Question

I earn a lot but cannot save. As a result I have always a poor boy. what do you all save and what are the REAL necessities that I should have. Please help me!

Answer 1

how much your earn is an important factor, but it`s how much you keep and save/ set aside that`s most important.

if you can discipline yourself to set aside a fixed percentage of what you earn, and never touch it-absolutely not-

then you'll surely see your savings grow.

real necessities are things that IF you don't buy, you'll die or is absolutely needed at home or at work. so, if you see something in a store, think, wil i survive without this? if yes, then don't buy it.

a dollar a day is about 30 dollars a month. and 30 dollars a month is 330 dollars a year... and so on.

hope this helps,
helpmeets
http://mwfrc.blogspot.com

Answer 2

Here is a good philosophy! When you get your paycheck pay yourself FIRST. In other words, take a portion and put it in a savings account or invest it in some mutual funds, your call. Personally, I would just open a savings account at a bank for now. If you pay yourself first then after awhile your not going to miss the money anyway and in a few years you will have some bucks put back.
You could use these funds for ex: later in life for retirement. Good Luck and Happy Savings!!

Answer 3

have money taken directly out of your check before you ever see it. If you sign up for an IRA, you can have an amount automatically deducted from your paycheck every pay period and put into your retirement fund.

If you never see the money you won't have the chance to spend it. You need to start thinking about saving for retirement even if that reality seems a million years away. Give that money some time to grow and you will have a real nestegg for retirement.

Answer 4

Just make your savings deposit one of the bills, pay it every month, on time like you do all the others.

As for real necessities, wait 24 hours before you purchase things you think you want. If you still want the item then buy it.

Answer 5

Well I have $20.00 a week taken out of every check and deposited into a savings account. If it is taken away before you have it, you don't miss it as much. $20.00 doesn't seem like much, but after a year you have a little over $1000.00. As for Necessities, your basic food, clothes, a roof over your head. You don't need cable or the Internet, cell phones, stuff like that, it just makes your life a little more comfortable..... which is why most of us have them.

Answer 6

You need to really want to save money in order to make it happens..Make it a goal.It is not easy to save money when you have lots of expenses.But first, you need to control your income. Make a list on what is your earnings and expenses. You need to get to know what is happening with your money to better control it."Pay you first "means pay utilities bill first everything you need to pay to keep a good credit Have a saving account. You may ask for a loan for $500.00,don't be afraid to ask for loan everybody ask for money some time in life. then deposit the $500.00 in the saving account with the same bank you make the loan and start making monthly payment, so you get used to make payments and have a credit history and start with your first $500.00savings This is a start for you. Then your next goal is buying a house, everybody who have good credit can do it. Everybody can do it , but you really need, want to do it. Wishing the best.

Answer 7

You should consider adopting a monthly budget. My wife and I do this. We just use excel, but we do it every month. It's a very useful tool, a way of telling your money what to do. Also, we use an "envelope" system. Meaning that we use cash for certain items such as groceries, dining out , etc.

Answer 8

Perhaps u earn more, spend more?
ask urself:
on what category stuff do u mostly spend money on....
Food and entertainment?
Hair and beauty?
Shopping?
Gambling?
Is it possible not to spend on these areas?
are they a necessity?
are they worth spending?
Try to cut down on the expenditure after you figure out which area u most likely to spend wasteful on. "v''

Answer 9

Don't ever let anyone tell you that you can't nor should you listen to the words of the foolish.


AVOID DEBT
PERSEVERE
WHATEVER YOU DO, DO IT WITH ALL YOUR MIGHT DEPEND UPON YOUR OWN PERSONAL EXERTIONS
USE THE BEST TOOLS
DON'T GET ABOVE YOUR BUSINESS
LEARN SOMETHING USEFUL
LET HOPE PREDOMINATE BUT BE NOT TOO VISIONARY
DO NOT SCATTER YOUR POWERS
BE SYSTEMATIC
READ THE NEWSPAPERS
BEWARE OF "OUTSIDE OPERATIONS"
DON'T INDORSE WITHOUT SECURITY
ADVERTISE YOUR BUSINESS
BE POLITE AND KIND TO YOUR CUSTOMERS
BE CHARITABLE
DON'T BLAB
PRESERVE YOUR INTEGRITY

then you will be rich

If you find this useful, send me an email. [e-mail]

Answer 10

If you are earning more you go to night club and buy a lux car...(for example)
If you are earning low you just spend money for necessary things.

You are earning more so do not spend your money for lux things...