How Do You Save Money?

nomad · Jan 11, 2024

Saving is one of the highly recommended financial habits. Do you save money regularly? How do you save money?

When it comes to saving money, storing it in a bank account rather than a home safe is advisable. Money in your home is prone to theft or damage through fire and other things. However, if you keep money in banks you can earn interest on your savings. To further build your savings, you also need to compound your interest, in other words, you should avoid withdrawing interest you receive from the bank. Saving in high yield bank accounts and diversifying your accounts is also recommended.

eldavis · Jan 11, 2024

For me I have multiple bank accounts, I use some for savings, I create a savings plan for a specific period of time that would also generate a little interest while saving.

olaniyi · Jan 26, 2024

Our general modern day way of saving is but saving it in a bank account but another way is to save it way that will bring interested and you can also withdraw it anytime

aovurevu · Jan 26, 2024

nomad said:
Saving is one of the highly recommended financial habits. Do you save money regularly? How do you save money?

When it comes to saving money, storing it in a bank account rather than a home safe is advisable. Money in your home is prone to theft or damage through fire and other things. However, if you keep money in banks you can earn interest on your savings. To further build your savings, you also need to compound your interest, in other words, you should avoid withdrawing interest you receive from the bank. Saving in high yield bank accounts and diversifying your accounts is also recommended.

I save money regularly and I normally take a percentage out of my earnings to save and this has always helped in rainy days . Saving consistently helps improve financial life and also gives peace to the mind.

SHAHID987 · Jan 26, 2024

I save money by sacrificing some of my necessities. As when I feel that I will enjoy by eating burger on the street just after my breakfast at home then I keep away myself from this and save that money.

eldavis · Jan 27, 2024

olaniyi said:
Our general modern day way of saving is but saving it in a bank account but another way is to save it way that will bring interested and you can also withdraw it anytime

These days most people now save in dollars or other foreign currency. Like over here people use stable coins to save their money. Once there is an increase in dollars they can sell their stable coins and get higher than what they started with.

Stardom22 · Mar 25, 2024

The saving of money has become so difficult especially on the evident of the undergoing higher cost of living. However l normally save only ten percent of my online earning.

nomad · Mar 26, 2024

SHAHID987 said:
I save money by sacrificing some of my necessities. As when I feel that I will enjoy by eating burger on the street just after my breakfast at home then I keep away myself from this and save that money.

If you have just eaten breakfast at home and you want to eat burger because you saw it in street, it is not necessity, it is luxury. However, if you have not eaten at home and you want to eat burger, it is necessity.

Starmix · Mar 26, 2024

I have 3 saving accounts. One from my salary the other one from my business and the 3rd from my passive income and side hustles. I withdrew a portion for investing stocks and dividends.

Springtime · Mar 26, 2024

I put a certain portion of my monthly income into a fixed deposit account. I save money by trying to find good deals, eating at home and buy what I need, not what I want.

nomad · Mar 27, 2024

Having a fixed deposit saving is really good. In my country, fixed deposit saving is a popular saving method. But you need at least $500 to create a fixed deposit account in my home country.

How Do You Save Money?

nomad

Very Familiar

eldavis

Very Familiar

olaniyi

Unfamiliar

aovurevu

Somewhat Known

SHAHID987

Notable

eldavis

Very Familiar

Stardom22

Very Familiar

nomad

Very Familiar

Starmix

Popular

Springtime

Well Known

nomad

Very Familiar

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