killamch89 Posted August 10, 2021 Share Posted August 10, 2021 My best tip for saving money is to split it 50/50 if possible and that's on a tight budget. 50 percent of that money goes into savings 30 for necessities including bills, food, gas etc. and the rest is for yourself. As for myself, I tend to save 75% of my money and only allocate about 5-10% on myself per month for splurging/anything I want to do with it. Also, make sure to invest into a bit of everything - don't just put all your money into one investment option. Distribute it evenly across multiple options so that you'll always have money. What’s your best tip for saving money? Link to comment Share on other sites More sharing options...
The Blackangel Posted August 10, 2021 Share Posted August 10, 2021 Invest a little bit into something tangible like silver or gold. Put that somewhere safe and hold on to it until the price to sell is higher than the price you bought for. Link to comment Share on other sites More sharing options...
killamch89 Posted August 10, 2021 Author Share Posted August 10, 2021 6 hours ago, The Blackangel said: Invest a little bit into something tangible like silver or gold. Put that somewhere safe and hold on to it until the price to sell is higher than the price you bought for. That's a great strategy as well. I plan to put more money into gold bars in the near future. Link to comment Share on other sites More sharing options...
ZandraJoi Posted August 11, 2021 Share Posted August 11, 2021 Don't live beyond your means. Splurge at times, Self-Care is always vital, but be sure the bills are paid. Compare prices. Don't get the newest & shiniest 'toy' just because everybody else has it or society says to. killamch89 and The Blackangel 2 Link to comment Share on other sites More sharing options...
killamch89 Posted August 13, 2021 Author Share Posted August 13, 2021 On 8/11/2021 at 10:49 AM, ZandraJoi said: Don't live beyond your means. Splurge at times, Self-Care is always vital, but be sure the bills are paid. Compare prices. Don't get the newest & shiniest 'toy' just because everybody else has it or society says to. Valid points and that's what I also live by. I have taken the approach over the years that if I'm going to make a major purchase, I must have at least three times the money of the item just in case there might be extras that wasn't accounted for in the original price. ZandraJoi 1 Link to comment Share on other sites More sharing options...
ZandraJoi Posted August 18, 2021 Share Posted August 18, 2021 On 8/12/2021 at 10:03 PM, killamch89 said: Valid points and that's what I also live by. I have taken the approach over the years that if I'm going to make a major purchase, I must have at least three times the money of the item just in case there might be extras that wasn't accounted for in the original price. Thank you! I'm glad you also live by it as well. We are fortunate to be debt free. Another tip we use is to pay with cash. I grew up never believing in credit cards. People tend to overdo their spending quite easily. Even if they pay it off right away, it's too easy to binge buy, as I call it lol Link to comment Share on other sites More sharing options...
killamch89 Posted August 20, 2021 Author Share Posted August 20, 2021 On 8/18/2021 at 9:35 AM, ZandraJoi said: Thank you! I'm glad you also live by it as well. We are fortunate to be debt free. Another tip we use is to pay with cash. I grew up never believing in credit cards. People tend to overdo their spending quite easily. Even if they pay it off right away, it's too easy to binge buy, as I call it lol I do have credit cards - the difference is unlike most people, I won't make a purchase unless I have the actual money to do. That way you can pay it back without any interest and you get cashback on your purchases/payment. I'm also debt-free and I learned to be financially disciplined since in high school I basically had pay bills and buy food from the money my parents sent me. Link to comment Share on other sites More sharing options...
