thinking how to make my money grow..**
August 12, 2011 7:37am CST
Have you ever thought about how to make your money grow?? These days I am almost broke and next week i'll have my payday and I have to think about how to make half of my salary grows. I mean. i am thinking of a very good business with a small capital. I don't want to spend my money to unnecessary things so I will make a plan of investing that money to make more money. I hate being broke because it means I failed to budget my money once again. I sometimes got jealous of having a new phone, shoes, bags, dresses...and many many more. As a result, I'm broke and have to borrow money from a friend in order to survive and that is very humiliating. Honestly, I am not a good saver.
1 person likes this
25 Sep 12
Hi tess_quinain, Money never grow. Only your actions towards money will make it to grow further. Keep an eye on your expenses and look for good investment opportunities which gives good returns on your investment. It can be Bank deposits, shares, Mutual funds or any other investment opportunity. Good Luck!
6 May 12
First of all, you need a plan. You need to plan your moves when it comes to spending each and every month. So far, you are doing well, in that you have a job. I think that is the first step. For the next month, track your expenses. Write down all the things you buy and how much. The simple act of jotting your expenses down may somewhat deter you from spending unnecessarily. If you have a smartphone, you can use an app to help you record all your expenses. At the end of the month, the app can help you categorise your spending into FOOD, TRANSPORT, PERSONAL, INSURANCE, HOME MAINTENANCE, FAMILY, etc. Look into each of these categories and lock in a budget for each category. Ensure that all your expenses do not exceed your salary. This is the basis to assist your money to grow. For the next month, make sure you follow your budget strictly. Whatever balance you have is your savings. Once you accumulate a good amount, you can start investing it to generate more money. You can choose mutual fund that generate dividends for a start. There you go, you are on your way to make your money grow.
12 Aug 11
I don't really think about it that much. I spent a really long time getting out of debt, and right now we are just trying to put money into our savings account each month. Mostly because soon after we got out of debt, we had a child, so we didn't have a lot of time to build up a cushion. Kids sure are expensive!
• United States
12 Aug 11
In the future, consider a banking account and savings account. I have one that automatically takes one dollar from my checking and puts it into my savings account. It helps so that I have money when I need it. You don't necessarily need to invest to get more money, just try to be wise with your grocery purchases, grocery purchases can get way out of hand.