[bestwriter]

When one is hard up for cash it is essential one distinguishes between needs and wants.
Wants can wait but one has to provide for one's needs and that is where managing one's money becomes necessary

It is good to have a savings habit and that which one would want to spend on wants could be saved for a rainy day as they say

Whst are your savings methods?

[augusta]

You would definitely save money when you go for your needs and not wants

[Giftmichael]

If you go for your need and not your wants, you will save lots of money. I know you will be thinking how i got to know this ? I have tried it and it’s working for me .

[augusta]

You can comfortably cut cost with knowing what you are buying. Needs don't take much money though

[Tendz]

By prioritising savings, we create a buffer that can help us navigate unexpected expenses or financial emergencies.

[augusta]

Recognizing and addressing your needs helps you function at your full potential and create healthier boundaries.

[Tendz]

Knowing your needs helps build self-awareness, which is important for both financial and personal well-being.

[augusta]

The important thing is to develop your own good habits and create your own savings rules to live by.

[nela13]

I have a savings plan that are automatically transfered, it help me to save regularly without much effort. I always try to satisfy my family's needs first only if we have some money left we go for wants but we always have money in our account by the end of the month, money that goes for investment.

[Tendz]

Putting money into investments is how wealth is built over time. You're not just saving, you're growing your money.

[eldavis]

It is extremely important to know your needs and your wants, this would help prevent wasting money and spending on unnecessary things.

[ptrikha21]

For years, I did not had a planned approach towards Earnings, Savings and Expenses.
Now while I do try to increase my earnings, I now try to have certain amount of Investment and gradually increasing my Savings.
Of course, increasing Savings also means that other family members too understand the importance of legitimate savings (not the miserly variety).
It can be tricky at times, but I keep on making appropriate efforts.

[augusta]

it is by differentiate between the two to save the money. You save money when you buy more of your needs

[Tiern]

Anyone that doesn't know their wants and their needs would always make silly mistakes in their spendings and end up being impulsive.

[bestwriter]

Impulsive buying is what lands people in trouble.

[Tendz]

That’s very true. Impulsive buying might feel good in the moment, but it often leads to regret later.

[bestwriter]

I have been impulsive at times but now I think twice.

[Tendz]

I’ve started doing the same, giving myself a little time to think about whether I really need something before buying.

[bestwriter]

I’ve started doing the same, giving myself a little time to think about whether I really need something before buying.

But once in a way spoiling oneself by going for impulsive buyng seems to be in order