Are you too busy earning to think about saving?

@Rainegurl (2158)
Philippines
August 3, 2010 10:44am CST
I recently came across a book about building personal wealth and one story relayed there made me think: it said some couples are too busy earning money that they neglect managing their finances well. Some people rely too much on active income that they forget to invest on passive income or at least save up for emergencies. Because they earn well, they spend big too. Do you think you manage your finances well? Or you just work and earn without really thinking about managing it.
2 people like this
10 responses
• Philippines
4 Aug 10
i really wish to save on our finances. my husband is working overseas, and i could say that he's providing as enough to live a comfortable, while me ,myself is earning too because i am employed with the government. the problem is that, everytime i am trying to save,something would happen that would need money. so all my savings will just come out. i think the problem is that i help a lot. i could not afford seeing someone having none to eat without me helping them. i don't know if it is good, but sometimes, i am giving too much.
@Rainegurl (2158)
• Philippines
7 Aug 10
You have a good heart. You are blessed, I think. I think you need a second savings account where you can keep an 'untouchable' fund. It's really good to help and I know sometimes that you have no choice but to help.
• United States
7 Aug 10
I spend anywhere between 15 -20 hours everyday, trying to earn and applying for jobs. Good luck to you with the applications but please do not wait, there are several hundred of us doing the same so waiting will lead to utter disappointment you just have to keep trying. Good luck to us all.
@paula27661 (15900)
• Australia
4 Aug 10
My husband and I certainly do not earn big but we manage to pay our mortgage and our bills. I am very good with my budgeting; I’ve had to be to ensure that the money will stretch to cover everything. Saving anything is extremely tough because it seems that the minute we have a little something in the bank something unexpected will occur and we will be back to square one. I do know of people who earn a lot more than us and manage to be in a lot more debt; I think it’s due to poor money management and living beyond the means.
@Rainegurl (2158)
• Philippines
7 Aug 10
Even if your savings get used up, I think it is still good that you were able to pay your mortgage. I am sure that is no small feat. And even if you always have to use your savings, at least you have always have something to answer for those unexpected occurrences.
1 person likes this
• Philippines
4 Aug 10
Hi! I think the more we earn the more we spend. So, it is wise to always put aside some savings and spend the rest, lol. Of course there are bills to pay and all but we should always be wise.
@Rainegurl (2158)
• Philippines
7 Aug 10
Yup! I think that is a fact of life. The more we earn, the more we spend. The key here I think is to be wise spenders. It is also not good to deprive ourselves, right? Just be sure to save a portion of your income.
• United States
4 Aug 10
Well I am one of the wishers who can make much more, but no matter how much I do I can't seem to make more. I would love to save and or invest, but what I make online has to definitely go towards a tad of my gigantic bills. I do have hopes that whether I can return to offline work force that what I have learned and picked up online I can save and or invest with.
@Rainegurl (2158)
• Philippines
7 Aug 10
Yup, like you, I try to save but my savings have to go most of the time. I am also wishing for a better job so that things would be easier for me and the family. I have job applications pending and I am crossing my fingers that I would be successful with that soon.
@sach143_u (859)
• India
3 Aug 10
Yup i am the person where i am always busy to earn money rather than thinking about the savings. I tried to think about savings but if i start to think then i will loose that much of time in earning. So i have to think about it and i should make some time for that. So i can achieve something in life.
@Rainegurl (2158)
• Philippines
7 Aug 10
The best thing is that you strive hard to earn I am sure you have a lot of achievement in life. However, I think it is also a good idea to save for the rainy days. See you around!
3 Aug 10
Yes it's always good for your own financial safety to save a bit on the side. There are some actors who were earning thousands and thought that would always be the case and spent big. A few years later they are seen on the street.
@Rainegurl (2158)
• Philippines
7 Aug 10
We have a lot of local actors like that. Usually those who became popular during the 80s. Now, the new actors are wiser. They invest in business and real property.
@aquariand (466)
3 Aug 10
I'm not very good with money and really have to learn to do more to make an effort to save, i hardly ever think about saving and just have enough money to afford the daily things in life that we need. If i have spare money i will being to try and save
@Rainegurl (2158)
• Philippines
7 Aug 10
I do try to save. However, my savings just get used up most of the time. Well, good luck with your new plan.
@incus99 (1086)
• Philippines
3 Aug 10
I think I have a good idea on who wrote the book you read... If we look at the Keynesian Framework of economics, we are just in realm of recession where the economy has contracted a lot.. saving and reducing spending in the macroscopic scale will just further contract the economy.. this is the time to spend.. in fact governments across the world are allotting billions on spending in what we call a "stimulus fund" to propel the economy from contracting and re-fuel trade among sectors... so far this 4 century old trick still work..
@Rainegurl (2158)
• Philippines
7 Aug 10
That really sounds complicated but it does make sense.
@MsTickle (25006)
• Australia
11 Aug 10
As a child growing up there was never much money. But there was everything we needed. When I first went out on my own I would pay my bills first then buy my food. There was rarely money for clothes. I've always had a budget, been careful to keep bills low, practised economies and spent only what I needed to spend. The rest went into and stayed in the bank. I've never been a big spender or had holidays or owned a new car. I don't party or throw my money around. I'm still trying to be safe with a little in the bank for emergencies but it's getting harder. I had over a thousand dollars worth of car repairs last December and my car broke down again a month ago...this time costing nearly $3000. It's much harder to save and I still don't have much of a life. I'm no longer in the workforce but I do some volunteer driving. My income is nothing to write home about. If I could earn some money, I would still save it.
@Cutie18f (9564)
• Philippines
8 Aug 10
I too have this problem. I feel like a millionaire at least for a day whenever I get some money. I too would love to hear and read the responses of others.