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What are the best saving tips you know ?
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Hoooh! This Is a great topic that I want to share mine and learn from others so thank you!

During these hard times, saving is always the key to stay intact and composed. Crypto has been very hard these times and as of the moment, it is only my source of income. Since it has been very hard, I have been saving very hard too! These are the things I did.

1. I downloaded and used Money Manager App

Its an application I downloaded from Google Play store where it allows me to track me expenses and income and make a review of it if I am at lost or gain from my ins and outs. There, I was able to cut down some unnecessary cost and lower down some bills that can be lowered. It has been very helpful to me because I have not been spending too much not like before (which is very useful since I have been in loss with crypto).

2. As much as possible, I eat at home.

Yes, I do that. My mom used to cook for the whole family so there's no reason for me to eat outside. A proper time management of when to eat is very important for us to save. I have been very conscious of it and I'm thankful I did save a lot from it.

3. I have been contented with my clothes and things

I checked my closet and found out that I had a lot of clothes I bought and I become contented from it. In fact, I was overwhelmed because it drastically increased. Fashion has never been my forte and I am very simple. I don't like to wear fancy clothes simply because I don't like it. But right now, I'm thankful because it paved a way for me to improved myself and I think I did. I still need to work for things that will make me look a decent person.

Lastly,

4. I utilize my time wisely

I make sure I balance my work - life - study habits to make sure not one of them is compromised. I honestly used to overwork myself. Hmm, not really overwork but I feel overworked haha! Right now, I'm doing my best to eliminate those unnecessary things like daydreaming and using so much time scrolling in social media accounts. I just found out that it consumed my time a lot.

Once again, thank you for this question. Great one!

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4 Comments

I have multiple income streams. My primary income stream pays my bills and the others are my spending and saving money. I budget the money that comes in every month and only use savings in the event of an emergency. If I want to make a big purchase, I save for it and only buy it when I have enough to be able to afford it. I live a simple life and buy only what I need, when I need it. I keep my heat low and air conditioning low in the summer. When shopping or traveling, I try to find the best price. There are many ways to save money but remember to still live a life while you are working on saving your money. 

Photo by rawpixel on Unsplash

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Saving money is one of the best practice that helps you to stay financially stable and it is also practiced by most successful rich men of the world today. Just as saving money is a practice everyone wants to do, some people find it very difficult in doing it because they lack saving tips techniques which makes them later spend all the money they were saving for no specific purpose.

I will share some great savings tips that had helped me and I hope it will also work for you if practiced with obstinate effort.

1) MAKE A PLAN : One of the best way to achieve success is by planning because it is the first step towards success. You have to make a plan about why you want to save and how you want to save. This will serve as a map road or path to achieve your aim.

2) ESTIMATE YOUR INCOME OR SALARY : You have to make an estimate on your total income or salary per month or per year depending on the time you receive your salary. This will enable you to know the amount of money you are capable of saving every month or year.

3) CREATE A PERSONAL SAVINGS ACCOUNT: Creating a personal savings account will help you separate other income from your savings. This implies that you won't be able to tamper anyhow with your savings until the stipulated time.

4) DO YOUR CALCULATIONS: This is the point where you are to perform some little Mathematics about the total amount you spend per day and other possible expenses that may occur. You have to do your calculations well such that you create a tolerance for your daily income.

5) SAVE AS LITTLE AS YOU CAN: This is where most people get it wrong which makes them tamper with their savings. You don't have to save very high amounts of money per day just because you want to quickly meet your target. When you do this, you may be over burdened which may later affect your savings. I will have to name use of a Nigerian slogan here which says "Don't do pass yourself".

6) MAKE A DURATION / TIME: You can now decide if you want to save every month or even three months, etc depending on how capable you are. Always remember not to make it as a great burden on yourself. Just select the time duration you are very convenient and comfortable with.

7) CONSISTENCY/NEVER GIVE UP : You have to be dedicated, focused and consistent about the practice so that you will end up successful with your savings.

8) KEEP SAVING: You might have tasted the sweetness and delight of saving after cashing out your savings. Don't let that stops you from saving another amount of money because it is one of the best practice that can make you very rich.

In conclusion, saving money is very easy you just have to go easy on yourself so that you won't end up getting fed up with the lovely practice.

Thanks for reading and I hope this helps.

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When a person works to earn a money reward either at the end of each day, week or month and does does not save up or he is not able to save, of what benefit is it that he/she works?

> Saving a part of one's income should be considered a way of life!

Something seen as a way of life is done consistently and compulsorily, so is SAVING.

At the same time, it can be very hard to save if one fails to be self disciplined.

TIPS I FOUND HELPFUL

+ STANDING INSTRUCTION on bank account;

As a salary earner, I placed a standing instruction on my salary bank account.

Over time, this has helped me to keep up with saving because at the end of every month, a part of my income I've chose to save is deducted as soon as salary is paid into my bank account.

Realistically, this tip can work for anyone and everyone, it makes saving pretty easy.

Do note that this kind of saving attracts a little percent interest monthly as well, so it's fun doing this.

+ RE-INVEST your Crypto earnings;

You reading this in a way tells me that you're a crypto earner, so what do you eventually do with your earning, you spend it all because you consider it a "free money"?

There are banks on the steem blockchain you can entrust your savings on that have now made it easy to invest and reinvest your steem earnings. If you are reading this and you do not know any of those banks and you want to know, you could simply communicate with me in the comment box.

+ LIVE SIMPLE

Living a simple life means:

- Not spending on what you don't need.

It's as simple as that!

+ CHOOSE YOUR FRIENDS WISELY

> Bad association spoils useful habits, says a Book of Wisdom.

The kind of friends you keep could help you keep your budgets and spending in check and vice versa.

You should stay away from associates that will want to cause you to always go after trending stuffs in the mall or that cause you to compete. Such friends should be avoided and you should stick to those ones that will support you to keep up a good saving habit.

Best regards,

Samal.

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Saving what? It's not all about money, isn't it? Because I also consider time as valuable as money. But anyways, here are some tips on how you can both save and maximize your money and time:

First, always buy what your lifestyle demands to you. Don't buy unnecessary things like you don't use all the time or just for some short span of time of usage. Consider buying budget wise products that has the same quality as other competitive products. Next is taking care of those valuable things you bought. The longer the time you are using those things, the more worth it stores as time goes by. That is why I also consider time as valuable as money, the two could be correlated with each other. And then lastly, if by any chance, just avoid getting debts from anyone or anything. Interest hurts the most in saving money.

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By far, this is the most interesting question I want to answer. 

Saving money is the most difficult thing to do especially when price of basic commodities are soaring but your salary is not. Sometimes, our expenses exceed our income which leads us to be trapped in debt. 

Don't worry, it is not only you who is having this difficulty because I am experiencing this too. But thanks God, I heard about a solution which I will share to you in case you missed it.

The formula for saving should be like this:

INCOME - SAVINGS = EXPENSES

Suppose you are earning 10,000 per month. Take a specific amount for savings and the rest goes to buying groceries, paying utility bills and other expenses. This way, whatever happens, you sure are prepared.

The problem why many people loans especially during emergencies is because they are following the formula:

INCOME - EXPENSES =SAVINGS

Now, let me ask you, if you are earning 10,000 a month, are you sure there will be left for savings? I bet no. Because it is our attitude to pray after the lightning struck or manguros lang ta ig human ug pangilat.

Some of you might say, my income is not even enough for our expenses, how much more if I take an amount for saving?

I say, make a budget and change your lifestyle. 

  • If it is your habit to go to a restaurant to eat after payday, change. Why not eat at home? I believe that eating together makes relationship healthier.
  • Buy only what you need. Whenever a mall has a sale, I usually go. Even if I don't need that item but the price is stashed to 50%, I will surely buy that. The ending, all money is spent and the things I bought are left unused or unworn. But that was before.
  • Refrain from going to malls. It has been my hobby before to go to malls to relax. And what would you do there? Of course, stroll the shops and stalls. Then you see a shirt or a shoe that you like, and you buy it but it is not included in the budget so your budget is ruined.

Thanks for reading and I hope this helps.

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1. Always plan in advance

The best way to ensure you save money is to actually know what you want to use the money for. I'm talking about developing a budget according to your priorities and sticking with it. That way, you will be able to spend your money on essentials and not on frivolities

2. Cut down on the borrowing

As a salary earner, I knew people that tried to save money but couldn't. This is because, before the end of the month, they would have borrowed up to half of their salary value. By the time they pay their salaries, they would barely have enough for themselves so they can't save.

3. Go for quality

When buying clothes, accessories, gadgets, go for quality products that will give you more years. That way you save money compared to when you buy cheap products that you'll always have to replace

4. Invest your savings

If you only save your money in the bank, you'll end up losing your money due to inflation. Most bank interest rates do not keep up with inflation. To prevent this, you need to invest in worthwhile investments. I would advise that you go for fairly stable investments rather than high yield investments that could make you lose all your money

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The first thing is to set up a budget and only spend within what that budget allows. I used to spend things without a budget and had a credit card and always faced debt problems.

Now I am currently in a net savings position where I can manage to save more even when I am earning much less these days. It is important to have a budget as we can check out what we need to pay and have an amount that is to be saved everymonth for investment purposes.

Reduce impulsive spending on unwanted things which serve no purpose in our life. There are many things that we think we may need but end up buying which we actually don't even news at all. I have found that when we buy things, sometimes we just buy it with no purpose in our life. After some time of using the item, we feel that it has after that have a space in the store room.

We can increase our income which is something much easier these days with more and more online side hustles. We could sell stuff online, sell services and even write for a living. When we increase our income we can actually save more.

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There are some saving tips that might work for you.

Know your bad habits

The first day you have to do is to find out your bad habits are spending money, like whether you are fond of snacks or maybe you are among those who are "eye hungry" when shopping.

By knowing the bad habits that are causing your finances to be unstable, then you can start looking for solutions.

For example, you enter into a group of people who are "hungry for the eye" when going to the mall. So, hold yourself not to go to the mall for some time.

Even if there is a need to be purchased, focus on the item and go home immediately after buying it. Do not let you go crazy and your money is wasted because you buy items that are not needed.

Recap your expenses in the last month

Not a few people do not have records of income and expenses every month. So it's not surprising that they don't know where the money goes. Suddenly it's finished even before the end of the month.

To not experience this continuously, you need to record expenses in detail. And to get started, spend some time on your expenses in the last month.

Reduce costs

Have you ever realized that every month you spend money on things you don't really need? Worse yet, even the expenses are not small.

You can reduce the cost of small things. For example, you subscribe to cable TV when in fact you rarely watch TV. If it's like that, it's better to stop the subscription fee as soon as possible.

Stay consistent [The most important part]

You could say saving is like a marathon. The finish line looks far away until you are tempted to stop in the middle of the road because you are tired. But if you have crossed the finish line, it will be really nice.

Therefore, you have to be consistent every day saving the same amount. No need to be too big, starting from a small amount, no problem, as long as it's consistent. Thankfully there is more money, so you can save more.

Temptation - Bear It or Lose It!

After a few extra days of saving, sometimes you want to do things that can drain the contents of your wallet, for example hanging out at the mall with friends.

But to get satisfying results, sometimes more sacrifice is needed. One of them is cutting spending for fun.

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I think one good tip is that, do not forget to save. I mean, even if you have a good job or income, remember to always save something for the rainy days.

Sometimes, some people are too confident in their current financial income/status that they neglect to save. It is better to have some savings than be sorry in the end.

As I have been working online for more than 10 years, better to really have savings cause you might have good income today, but it could not remain sufficient for so many years. As contract/site might end or change for the worse in which you cannot earn a good amount from it anymore.

Just like in cryptocurrencies, you might earn a lot when its value is on its peak, but you can also loss almost everything you have invested when its value falls so bad. So, better to have savings.

Another good tip I think is to allocate your money properly and stick to it. Like allocate the money for the bills and other necessities then in what have been left, small part of it for leisure or for rewarding yourself, and the rest should go to your savings.

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#1. If you have a credit card, never carry a balance, pay it off every month.

#2. Always pay yourself first, every month. Try to put 10% of your income in a savings account every month, before you start paying bills.

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awesome, this is a very interesting topic to discuss. Because sometimes people are good at finding and collecting money but not good at storing it.

In this case, regarding the best savings tips, I depend on us. Because in this digital era, we can save money by saving money in a bank by choosing a deposit product in a conventional bank or fund raising product in an Islamic bank.

However, if you are interested in saving your money in the form of a cryptocurrenci (digital asset), then there is good storage in steem by exchanging your money with steem and then you transfer it to your waled in steemit, after that you power up. That's saving productive according to my analysis. Because with us saving or investing our money in steem power, it will continue to create and generate rewards for you.

In addition, you can also help encourage writers who consistently write with good content.

And the profit potential is very possible, for example if the day you buy steem is priced below $ 1 USD, in the next 1 or 2 years maybe the price of steem will go up through the $ 7 USD, then that is a big advantage that you get from savings in Steem.

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A VERY DIFFERENT ANSWER

No One Probably Give you this Very Type of Answers, so here you go.

Very good question! I could start by telling you a lot of tips and tricks that would make you save more and well. But I won't. I would rather take you on a trip as we visit the fundation of savings. The very reason why you would want to save well is if you know why you are saving.

This would lead to point 1

1: MOTIVATION: you need to get your tanks right! You can't be goaless with the slightest thing. You need to convince yourself to put a reason behind your savings. This would ginger you to save at your best. It could be a college degree you want to chase or it could be you wanting to get a new car or a new gadget, or you wanting to fund a business (start up) or you wanting to save to invest.

Ps: saving to invest is not the best thing to do. You should rather commit to invest.

How?

If you earn $500 per month and you want to invest $400 in a coin or a business.

It's either you save 50$ per month and wait for 9 months before you invest. Or you close your eyes and you set aside 200$ for two months then you have your investment running on the 3rd month. By the 8th month you would have been reaping your interest.

When you Commit to invest is you setting aside $200 for two months instead of you saving $50 for 8 months.

Back to what we were saying.

Savings Tips

2. Take that Decision: You can't just hit your saving box with random figures every month. So you decide the exact amount you intend to save every month.

So you have to decide to be saving for instance $100 per month and you stick to that till you decide to review your decision. You don't save $50 in January and get back in February with $120 and come back in March with $24

3: Save in the jungle: As much as you can save where you can't easily access.

If it's a bank! Get a type of account with the most difficult access. It's either you don't request a cheque book and a debit card.

4. Wipe your memory: Forget the fact that you have money somewhere. Remember you saved it for a purpose. So the money is temporary not yours.

Ps: I would have gone on and on. But yes! Other folks already gave you the answers I would have added and I am trying so hard not to roll in repetition.

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Always put away a fixed sum of money on your payday and forget about it. 

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Here is a fun saving tip that saves me a ton of money and makes me healthier too. Try to only drink water. You will be amazed to see how much money you spend on sodas, coffee or alcohol.

Ever since I started to force myself to drink only water I find myself with a pretty decent chunk of extra money at the end of each month. Oh, and like I said...it's the healthiest alternative there is.

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I think we need spent our money very carefully. We need to buy our everdays need many materials as much as we need. For buy antlything or shoping we need to create one list that's will helo for saving.We need to create one bank acount also for savings.But we need to be more carefull.

Thanks

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For me, Out of sight = out of mind. If I throw some money in a bucket or piggy bank I am way ahead because I will not spend it then unless an emergency.  if it is in my pocket or on my debit card it is gone. 

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Discipline to not spend on stupid shit. Ha!

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Good question.. .

* Try to use your money properly. Try to think first before anything buying.And always try to list what's ever you want to buy. If youu don't want to buy anything that you don't need.Always carry how you can need for your work.dont take so much.

*Also if you do job try to cut some money from your sellary.Also try save money from your sellary.

* when you will buy something try to biy good things don't buy so much excessive price material or cloth

* also try to create one bank acount for savings. That will helpp you with responsibiliez for savings...

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The best saving tips I know is:

1. Save before you spend.

2. Save before you spend.

3. Save before you spend.

4. Save before you spend.

5 Save before you spend.

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