How to save money – my way.
I get asked this a lot by people. How did I manage to save so much money and still go out and shop and pay bills and stuff. Well, I won’t call my self lucky in this situation nor do I get paid so much for being a programmer. On the contrary, I just learned the simple task of managing money.
How?
Umm.. I spent a lot of years of my life where my family had no income or little income. Since I started my job and was hired on full time, my parents kept nagging and telling me, “save your money. Don’t over spend. You never know what the future holds.”
So I had lots of ups and downs in my life. I also witnessed others being in financial problems to the point they are broke and collections are after them. I have seen people also who can’t manage to save a penny by the end of the month because they want to live a high extravagant life. Then people argue with me and say, “you only live once. So enjoy it.” The funny part is that I do enjoy it, but I enjoy it in a smart way.
So how do I do it?
I am a human being. I have basic needs. I am 27, but I keep telling my self, I am only 18 years old financially. I only had basic needs when I was 18, so why would it change now? I am single and I live at home. I don’t have any large financial obligations, so why should I live a high life for?
We all have basic needs to get by in life. We slowly start wanting great big things or spoil our selves once in a while. But why should we do it all the time?
So what did I do?
I just learned to save 35 – 55% of my salary every month. That’s with paying all the bills (credit card and student loans, etc) and recreational stuff (shopping 
). I know it is hard for people to save that much, but think about it. What are you spending on a lot in a month that you can live without? Daily coffee? Eating out a lot? Movies every weekend? Shopping too much and buying extravagant things?
Just cut down on unnecessary things for a couple of months and see what you can save. Believe me, you are only broke or can’t manage your money because you comply with capitalism! Pants that cost $200 are the same as those that cost $20! Why are they the same? They both cover your ass in the damn cold!
Loading ...
I totally agree. The only upside of capitalism is the competition which can drive down prices but you have to be a smart savvy shopper. I sometimes will shop at outlets because the same stuff in there you find at the mall. Case in point…my mother who is staying with me for a week wants to buy something for her mother when she leaves for Puerto Rico next Tuesday so we are going to Value City today since they are going out of business (a downside of our economy here in the states—business are floundering)…anyway….I wish I had your same intel when it comes to finance when I was your age… :heart:
I seldom buy stuff that cost more than 30 or 40 bucks. I don’t find the need to wear expensive stuff. It will get ruined and look so over worn within 2 or 3 months. So why spend so much? I just don’t get it.
I wish I handled my expenses that well too…
But I have one great problem… TECHNOLOGY DRIVES ME CRAZY!! :whoa:
When I see a new phone, anew mp3 player, new noise canceling headphones, and recently any new notebook computer… one simple command goes through my head… MUST.BUY.NOW. :O
Other than that, I guess I can cut down on eating out a lot (although I can’t give up Starbucks for anything!) :lol:
And despite all of that, I do save up only when I have a particular plan in mind (otherwise it all goes away!). I’m currently saving up for a big ass 40″ Sony Bravia TV, not for the living room, noooooo, for MY room.
People ought not live beyond their means, it’s as simple as that. However, North American culture contravenes this virtue. I have never witnessed such extraordinary reliance on credit… North America baffled me.
I have to admit though, I am a MASSIVE spender, yet I manage to stack up large savings. Heavy spending only encourages me to be more productive. This philosophy, obviously, is rendered void if you are an employee.
:laugh: That that true why buy expenssive stuff. A lot of poeple now are materialistic and showing of how much they spend for their stuff. I seldom spend more than 100 worth of cloths in a month not even sometimes.I usually digging on sale “love the sale items!”. Heck I’m not paying for a shirt that cost me over 30 bucks..lol.. I’m sure evryone will live comfortable if they don’t spend beyond their means..
Haha! Mona, you’re last line was classic.
Once you start buying jeans at Value Village, you’ll never go back to paying full price. And you’ll have plenty for a dowry, if that’s what you’re saving for.