What is your best Money tip? Either saving or Managing.....?

Answer 1

There is a simple principle I follow. Always buy assets because assets produce income. Some call this passive income. Never buy liabilities (like a new car etc.) these are things that constantly drain your earned income. Ideally you want to own assets (real estate, businesses, stocks, bonds etc.) that produce income. Use that income to buy more assets. Get rid of your liabilities.
I have worked diligently to follow this principle and if you're disciplined it works tremendously well. If you want to read more about how to do this I recommend you read Rich Dad, Poor Dad by Robert Kiyosaki.

Answer 2

Think before you spend, A spending diary is a fantastic tool for this, write down every penny. You don't need to do it forever but it'll help you to get a picture of where and why your money disappears.

and remember, with the exception of a place to live, if you can't afford to pay for something, you certainly can't afford to borrow money to pay for it because it is always more expensive. (Houses are different because it'll cost you to live somewhere even if you are renting so then it's worth borrowing to buy, but not to pay rent)

Answer 3

Don't buy stuff just because it's on sale if you don't have the money to pay for it. If you put that $200 on sale item on your credit card and make minimum payments on the bill, by the time you finish paying for it, your good deal cost your more than it would have cost to just pay full price for it in cash.

Answer 4

1 - Minimize your expenses - avoid overspending and overpaying for goods and services.
2 - Minimize your liabilities - carry the right health, auto insurance, family planning, goal setting, reduce debts etc etc...
3 - Maximize your income - business, career, stock market, real estate

Thorough explanation of this at the URL below.

Be blessed,

Answer 5

Budget, budget, budget. If you know how much is coming in, and going out, you will know how much you NEED to spend. You will automatically understand what you are doing financially. If you are computer savvy, use excel, if not, use paper. Just start writing down each purchase you do, and add them up.

Answer 6

one thing I do is buy things that are on sale, then when I get paid I put about 25 to 50 dollars away each time..

Answer 7

it all comes down to wants vs needs.

you want steak, you need top romin

you want big house in an expensive neighborhood - you need 2bed/1bath at 800sqft in so so neighborhood.

you want new clothes - you already have more than you can wear.

Answer 8

savings and managing my expenses

Answer 9

Use cash or checks, whatever makes you happy . . . but NO credit cards!