How to Balance Spending and Saving?

[Eodine]

That's right @Eodine ,you expressed yourself with very wise words, it's always good to have some reserve as we don't know when we will need. Every day things increase in value and we should do our best to spend on only what is necessary to be able to save something.

But in saving and investing, which do you prefer? It seems easier to save than to invest naturally as investment seems like a big word that requires patience

 

[Setho]

If you want to be financially free in no distant time you have to have to core skill of balancing between savings and spendings . to do this, you should have a budget and preference list.

 

[Prettyjanie]

A lot of discipline is needed to balance spending from saving. In all your earnings, try to save more and spend less and make sure you spend on things that are .necessary

 

[Ralphjoe]

For an individual to balance spending and savings one have to plan and make preparation for your money. You have to plan your income before getting into your hand and divide into each segment percentage for savings and also for spending.

Balancing spending and savings without making a proper plan is quite going to be a very bad recipe for disaster because a good planning would ensure that you're spending and savings would be synchronised in such a way that they won't be an overlap.

 

[Setfragil]

You can only Balance your spending with your earnings by drawing a scale of preference of your wants and needs all the time in order to avoid buying thing that does not add values to you or your business.

 

[Ub40]

You have really analysed the above topic very well. I agree with you. One should always save something, no matter how small, it will help in the rainy days. One must not wait until he or she starts making big money before thinking about savings. That is my thoughts.

 

[Jlife]

Only have a simple plan When I get my monthly salary, and what I do is that I save 30% of my salary, I used 50% of my salary for daily upkeeping and for transportation, I keep the remaining 20% of my salary for any emergency purposes or enjoyment.

 

[GIFTMICHAEL]

Making proper financial planning, spending money shouldn't be on wish, but based on budget. Always spend through what you budget, so you'll attend to other demanding issues that needs money too, then save money too.

 

[Ralphjoe]

I think we should hold our hand on spending money for extra desires and wishes in this manner we can save money but there are lot's of ways that money spent like paying bills,house rent and food items which is the basic need of our life.
There are lot's of. ways to balance and maintainance but the income is low as compared of rich worker

This is Joseph and I am completely battling with being able to discipline myself when it comes to you extra spending from my budgeted spending and if anyone is able to discipline themselves from spending unnecessarily then that person is on their way through a financial freedom guaranteed life.

 

[Senator]

Your post said a lot on how to balance our spending indeed. Having a financial plan is one way for us to keep an eye on how we go about spending our finances. That's a very valid input

 

[Kelly5]

In balancing spending your spendings and your savings, you should really have a plan on what you are going to be making spending on for a period and how much you must be saving for unforeseen situations and future projects

 

[Good-Person]

The best way to balance savings and expenditures is to determine your expenses and know your targets when it comes to financial matters. You cannot save money without proper planning. What I have learned is that the only way you can save money is by sacrificing your desires and spending money only if you really need to spend.

 

[Alexandoy]

Making proper financial planning, spending money shouldn't be on wish, but based on budget. Always spend through what you budget, so you'll attend to other demanding issues that needs money too, then save money too.

You have a good point in the mentioning of the wish. If it is not a necessity then don't buy. Some people are posting in Facebook that they wish to buy a clothing item or to order a particular food that is obviously not a necessity. Keep in mind that necessities are the only things in the budget.

 

[Salimo]

To spend or to save? This is a repetitive inquiry in our endless battle with dealing with our individual budgets. Furthermore, this is on the grounds that both spending and saving are dynamic monetary propensities, moving over the long haul as per your needs, necessities and inclinations. Some of my tips are as follow;

Make A Financial Plan:

Have a record of your incomes, expenses and bills paid this will help to decide precisely how much cash you have coming in and where exactly you're spending it on. Once you have an idea, then you are one step ahead. Numerous novices track each transaction for about fourteen days to one month prior to making a financial plan. It is a decent beginning stage in the event that you have never followed your spending and by utilizing electronic systems that track your exchanges consequently you can without much of a stretch audit transactions and comprehend where you are spending.

Build up an unmistakable funds objective:

Having a ultimate objective in sight will help with regards to putting aside a particular sum each month or year to arrive at that target. To launch your investment funds, consider computerizing your records to move the planned sum to your investment funds every month.

Yes those points are very important for any person cause everyone should know how to balance saving with spending , for sure if we do it right we will be in comfort zone for life .

 

[femijoshua]

In most situation it's always easy or we're always spending money but it's very hard to save. Most people can't save any money because they are not even making enough money for themselves

 

[Haveit]

You have said it all, the best way to plan for your money and stick to it, it would help you control expenses in case there is something else you need, you'll have to work it out.

 

[skyliequiz]

Keep track of your spending. One of my golden rules for maintaining balance is to use a certain amount of my income. To find out how much you can save, divide your income by the ratio of your costs, such as entertainment and groceries. Divide your income into three percentages so that you can utilize it till the end of the month.

 

[eLdavis]

I think we should hold our hand on spending money for extra desires and wishes in this manner we can save money but there are lot's of ways that money spent like paying bills,house rent and food items which is the basic need of our life.
There are lot's of. ways to balance and maintainance but the income is low as compared of rich worker

When it comes to spending on things like bills, house rents, and food, this is something that cannot be avoided, or even spending on unplanned situations. It is beyond our control. These things needs to be done, but that does not mean we cant control it to some extent, just like you said, we need to cut down our desires and wants to be able to save.

 

[BTCBEE]

When it comes to spending on things like bills, house rents, and food, this is something that cannot be avoided, or even spending on unplanned situations. It is beyond our control. These things needs to be done, but that does not mean we cant control it to some extent, just like you said, we need to cut down our desires and wants to be able to save.

wow, you explained very well and you give much time here to mention all. and i agreed with you on all points. we should always care about our balance.

 

[Shigobad20201]

To spend or to save? This is a repetitive inquiry in our endless battle with dealing with our individual budgets. Furthermore, this is on the grounds that both spending and saving are dynamic monetary propensities, moving over the long haul as per your needs, necessities and inclinations. Some of my tips are as follow;

Make A Financial Plan:

Have a record of your incomes, expenses and bills paid this will help to decide precisely how much cash you have coming in and where exactly you're spending it on. Once you have an idea, then you are one step ahead. Numerous novices track each transaction for about fourteen days to one month prior to making a financial plan. It is a decent beginning stage in the event that you have never followed your spending and by utilizing electronic systems that track your exchanges consequently you can without much of a stretch audit transactions and comprehend where you are spending.

Build up an unmistakable funds objective:

Having a ultimate objective in sight will help with regards to putting aside a particular sum each month or year to arrive at that target. To launch your investment funds, consider computerizing your records to move the planned sum to your investment funds every month.

To mark up for how to balance your spending and saving , you must first make a financial plan on how to plan the money going in and out of the company, know how much gain you are making and how much did you want to be spending out.