[Fergal]

You may have heard it said, poor people spend their money and save what’s left, wealthy people save their money and spend what’s left. When asked about their regrets, many people say they regret not having saved money. Have you ever met anyone who said they regretted saving?

Saving, even a little, gives you control of your money and finance. Ideally you will be saving between 10 – 20% of your income. However, for many of us starting out on our journey to financial success, this level of saving is not practical.

The key is to get into the habit of saving. Start with saving even a tiny portion of your income. If you receive your income monthly, save monthly. If you are paid weekly, save weekly. Save first, spend later. Start with a level that is comfortable for you.

Save even one percent of everything you earn. This is your money, to be saved, before you spend or pay bills. The remaining 99% is for bills and expenses.

If 1% is not possible, save 0.5% or even 0.1%. Again, the key, is to get into the habit of taking full control, over a portion of your income. Put it in a separate account or money box, that is fully controlled by you and not available to pay other bills.

Once we start saving, many of us are surprised at how quickly it adds up. Even a modest savings fund, can give you a sense of confidence in your financial situation. It can provide you with an emergency fund in the event of an unexpected change in circumstances, or an investment fund leading to future financial success.

Start today, decide on the percentage (however small to begin with) that is comfortable for you. Once you are in the habit of saving and are in full control of even a tiny portion of your income, you can begin to increase the percentage, over time and watch your savings snowball.

The best time to plant a tree was twenty years ago, the second best time is today. Don’t over think the past, don’t have regrets in the future, start saving today.

[peachpurple]

Very encouraging article
I save $1 daily, which means i can have $30 in a month. Much faster than earning online. I haave a full time job offline with a fix salary

[JASPREET]

I have been raised like that and that's why I know the value of savings no matter how little it is and my mom doesn't like me to order food from outside and wantss me to eat home-cooked food and she has a point

[MysticMoons]

Yes one great way to save money is to be greedy, but simply not giving money to other people. And also another way I save a lot is by putting away 10 percent of my pay in savings and not touching it. This is a great way to always have money, and save money for a rainy day. This is really the way to go if you want to earn a lot of money in your life! Save 10 percent. I once read this in a book about saving 10 percent in the bank each month.

[augusta]

I grew up saving money no matter how small but sometimes expenses overwhelmed and makes it almost impossible. But I will keep trying it is good to save.

[Fergal]

I once read this in a book about saving 10 percent in the bank each month.
0

Do you remember which book it was?

[nela13]

Fortunately, I am able to save more than 10% of my monthly income, after having a considerable amount, I use that money to make investments, so far we have been doing good with this strategy.

[nela13]

We (me and my husband) save a part of our income as soon as we receive it, usually 20%, and pay our bills, do the grocery shopping and any extras we may have every month with what is left in the account. I can say that we never spend everything that we leave in almost every month we have money in our account by the end of the month.

[junglegal]

I have always been a saver but it was not until the pandemic that i took it really seriously. The pandemic opened my eyes to a lot of possibilities, good and bad. I make sure i save a certain percentage of my earnings and i invest it. I am a holder. I rely on online earnings to survive the month. I feel people should save, no matter how small just save, that small amount will accumulate into a big amount in the long run so don't despair.

[Viastra]

Ways to save money:
I have seen the habit of saving money being equal to how much you have in a bank account. But, here are some ideal ways to save and grow wealth without going to a bank

• Buy animals - Cows or sheep or goats will multiply by at least 100% each year, and some animals up to 300%
• Invest in the Money Stock Market - This market earns between 18 and 39% annually when invested in solid currencies. Please note this data is universal and refers only to the local Caribbean Market
• buy and sell fixed assets. These assets increase in value daily and can fetch a better sale price later on

[nela13]

I have always been a saver but it was not until the pandemic that i took it really seriously. The pandemic opened my eyes to a lot of possibilities, good and bad.

Definitely, if there were events that made us stop to think about the future, and in particular the financial future, Covid-19 was certainly one of the most striking in recent decades. I started my retirement plan in 2020, now I have an extra annual saving for it, it is an extra that I will have because I still have many years ahead until I reach my retirement.

[bestwriter]

Right from day one when you start earning you should get into the habit of saving I always tell those who I can advise that if they earn say Rs. 500 they should think they earn Rs. 400 and save that Rs. 100. It works.

I keep aside a bit of money of my maid and save it for her.

There are several investment ideas - even as small as Rs.100 if deposited in a bank scheme at the end of the year it become Rs. 1300/-

Saving is earning.

[augusta]

Yeah this works like a chain, when you earn and save you are conserving your money. And it will be most useful in the future which is very important.

[Fergal]

[Similar topics merged.]

[bestwriter]

[Similar topics merged.]

I had posted mine under "101 money tips" Has that topic been closed?

[Fergal]

I had posted mine under "101 money tips" Has that topic been closed?

Hi bestwriter, your topic has not been closed, it has been merged into this topic. If you scroll up you will see your post in this topic.

I hope that's OK with you.

[bestwriter]

I had posted mine under "101 money tips" Has that topic been closed?

Hi bestwriter, your topic has not been closed, it has been merged into this topic. If you scroll up you will see your post in this topic.

I hope that's OK with you.

Why has it been merged here. I posted it under that link. Your topic is 'Save" and my topic is "Saving is earnings"

[Fergal]

Right from day one when you start earning you should get into the habit of saving I always tell those who I can advise that if they earn say Rs. 500 they should think they earn Rs. 400 and save that Rs. 100. It works.

I keep aside a bit of money of my maid and save it for her.

There are several investment ideas - even as small as Rs.100 if deposited in a bank scheme at the end of the year it become Rs. 1300/-

Saving is earning.

Why has it been merged here. I posted it under that link. Your topic is 'Save" and my topic is "Saving is earnings"

Because your topic, makes the same points as my original topic, which is the first post in this topic, that's why I merged them. We don't need two different topics, to give the same tips If your tip is basically the same as a tip in an existing topic and you feel you have something to add to the tip, please reply to the existing topic, rather than starting a new topic.

[bestwriter]

Right from day one when you start earning you should get into the habit of saving I always tell those who I can advise that if they earn say Rs. 500 they should think they earn Rs. 400 and save that Rs. 100. It works.

I keep aside a bit of money of my maid and save it for her.

There are several investment ideas - even as small as Rs.100 if deposited in a bank scheme at the end of the year it become Rs. 1300/-

Saving is earning.

Why has it been merged here. I posted it under that link. Your topic is 'Save" and my topic is "Saving is earnings"

Because your topic, makes the same points as my original topic, which is the first post in this topic, that's why I merged them. We don't need two different topics, to give the same tips If your tip is basically the same as a tip in an existing topic and you feel you have something to add to the tip, please reply to the existing topic, rather than starting a new topic.

I had not seen your thread under Save and hence wrote mine under the other link. It is OK

[Tendz]

Saving is critically important, and it's better to start young. People who start saving at a young age, build up a financial discipline. They are the ones who won't be drowning in debts later on in life.