How to Balance Spending and Saving?

[Skysaint]

Making a financial plan or budget will give you an insight on how to maintain a balance between savings and spending. A budget will help reduce unnecessary spending.

That's not always the case but it's also in line though. As a student you can't make a budget of what you will spend for the month because many things could pop up suddenly and you will need to attend to it

 

[Seno inyang]

The way I balance my savings and spending is by diligently setting out an objective stating my budget for the year and I don't do anything more or less out of the budget. It's a fixed one for me, even if there is an emergency which there is an amount set aside for it as well. Secondly, I'm not an extravagant type, I save a lot and this helps me too. If you really want to balance saving and spending, then avoid buying stuffs impromptu.

 

[Sotherefore]

The way I balance my savings and spending is by diligently setting out an objective stating my budget for the year and I don't do anything more or less out of the budget. It's a fixed one for me, even if there is an emergency which there is an amount set aside for it as well. Secondly, I'm not an extravagant type, I save a lot and this helps me too. If you really want to balance saving and spending, then avoid buying stuffs impromptu.

Nice one from you, this is what I am also trying to do .I am also trying to avoid a situation that will make me to spend so much, I understand saving is very important in our life and that is what people have to take serious most especially if they have a future plans.

 

[tyrim88]

The only way to balance spending and saving is to be self disciplined you have to know when to purchase and not to purchase self discipline is key to saving

When it comes to the issue of spending there is a lot the individual tha t is involved has to do ,and that is his ability to apply discipline in his financial spending,he should be able to allocate properlly resource in an appropriate manner to areas the are of real needs.

 

[eLdavis]

The way I balance my savings and spending is by diligently setting out an objective stating my budget for the year and I don't do anything more or less out of the budget. It's a fixed one for me, even if there is an emergency which there is an amount set aside for it as well. Secondly, I'm not an extravagant type, I save a lot and this helps me too. If you really want to balance saving and spending, then avoid buying stuffs impromptu.

This is very nice, is this a self taught habit or did someone teach you how to be discipline and also how to organize your spending and savings?

 

[Shigobad20201]

The only way in which we can balance our spending with saving to always have a financial plan for our money, we should have a daily budget in which we must not spend beyond our limit.

 

[Maphalle]

Budget is very much important in controlling the spending part and make sure you follow the budget and be strict on the budget. In that way you will be able to save. On your budget savings must be included.

 

[joy101]

The best way to balance spending and also to save money you have to reduce on how you buy things, so that you will not spend too much on things.

 

[Justin]

You will have to make a list of your expenses and gradually omit the ones that are unnecessary spending. When you cut unnecessary spending, you will be able to save.

 

[greenie]

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.

 

[Sotherefore]

I Only have one rules, to spend when it is absolutely necessary and to spend on things that is beneficial to me... When I don't have money I don't go for luxury products and I only buy things that are my needs..

 

[Ghost1]

The only way to balance spending and saving is to be self disciplined you have to know when to purchase and not to purchase self discipline is key to saving

You are right. But in cases of emergency or unforseen misfortune one has no option than to spend. We can only be disciplined and hope this never happens to us

 

[Syldan]

The best way to balance between your spending and savings, is to make a financial planning. Because this is the only way which will helped you minimize the level of your spending on things that are not relevant.

 

[Ebro01]

In life everyday we must spend and at the same time save. Our spending is on mostly what we want and needs. Food, clothing, and other necessary needs, while savings is also wise to have some money in reserve.

 

[Good-Person]

According to me, cutting down your huge expenses is the only way to actually save money. I have tried cutting my expenses and I have managed to save a lots of money. You must analyse what is making you spend lots of money.

 

[kayode10]

Good personal is the best way to balance spending and saving. You must be able to allocate fund to each of the spending and saving. You should first saving a portion of any money you make. You also need self discipline to flow the plan.

 

[Ononivami1]

The amount that you earned should control your spending. You shouldn't spend more than what you are earning, otherwise you Will land yourself in a unstable financial conditions. This is what we should look into for us to have enough savings.

 

[mayumi97]

Setting money aside as savings should be a priority for anyone who wants to be financially free. It's a mistake to forego or delay saving money because you can never take back what you have already spent. Creating a financial plan and/or budget would be a good first step to help you identify your income and consequently allocate it to your savings, expenses, and personal projects. It gives you a sense of control over your finances.

 

[Sotherefore]

Good personal is the best way to balance spending and saving. You must be able to allocate fund to each of the spending and saving. You should first saving a portion of any money you make. You also need self discipline to flow the plan.

It takes a lot of discipline for people to be able to organise and balance their saving life, even me sometimes I always find it very difficult to save some money. if am not discipline I am likely to used all the money I have made within a period of few days on something I don't even know.
Personally I do not see this as a big deal, people that do not have future potential are those that are likely to spend their money on necessarily on things that doesn't Worth spending on

 

[Castelione]

Save something from what you earned and make a budget plan for the remaining amount. Spend first on the things you need, and then, you can have what you want later. Self-discipline in spending and saving is essential.