my ways of planning money

@ungu89 (2001)
Malaysia
December 20, 2012 10:25am CST
lately i'll been think much about saving money. while i was surfing, i found this tips. 70/30 example: you earn $1000 per month. $700 (for all bill and others payment monthly $300 10% 100- for a charity or something like that. 10% 100-saving (real one-for the future) 10% 100- for business. when i look this way, i think its going to work. if 700 is not enough, the are still 100 that are use for business. surely u will find some business that will give u profit. i think i will start on it next year. maybe it will work. * i don't used before this maybe because i don't have to think much how i get money, now that i'll getting older each day, i need to think for it seriously!
1 person likes this
11 responses
@vandana7 (67645)
• India
21 Dec 12
Aim high...you will get there. When I started planning I was lucky to get slight guidance from a very wise person. He said by the time you reach 50 or so, your memory starts failing so you should finish your planning by that time. How right he was. He also said..you should try to save double the amount you need for regular expenses. So if I need 1000 per month, I should save 2000. In addition, I should set aside at least 1000 for medical expenses. I followed the idea somewhat, and am quite content.
@ungu89 (2001)
• Malaysia
22 Dec 12
then 1000 for expenses 2000 for saving. 1000 for medical. is that the medical from the saving or not? but surely its look difficult. u must be have any side income thats why u can save double?
@vandana7 (67645)
• India
22 Dec 12
Actually no..:) What I did was draw up immediate requirements...complete with amount for clothes transport, etc. Then as pay increased over a period, I did not change much..went on covering up for deficit in other accounts. Only when all accounts were reasonably filled then I increased the standard of living.
@ungu89 (2001)
• Malaysia
24 Dec 12
i don't really get what u mean actually.. hehe
@aireanna18 (1914)
• United States
21 Dec 12
Thank you for sharing the tips. I do think that sounds like a good system. I will keep that in mind for when my finances improve a bit, and I can decrease the expenditures on bills and increase my bring home pay.
@ungu89 (2001)
• Malaysia
21 Dec 12
hehe. u should try them too. i try to used this for my next month money. hehe
@ryanong (9694)
• Vietnam
21 Dec 12
why don't you save from this month immediately, don't need to wait till next month...
@ungu89 (2001)
• Malaysia
21 Dec 12
because this month money i got next month. hahaha
@cher913 (25890)
• Canada
20 Dec 12
i think it is important to save for your retirement at any age. good for you for thinking ahead.
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, especially when work doing our own business, we need to think ways for the future. if we just get and spend all of it, there will nothing left in future, i always now, try to start my own career. that's why i'm think a lot on saving it now
@ryanong (9694)
• Vietnam
21 Dec 12
Yeah, saving is very good and it is never late to do it....but better we should do it early
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, do it early is better than late. so, i will start mine now!
@ARIES1973 (9539)
• Legaspi, Philippines
20 Dec 12
Hi ungu! We can adopt different schemes in order to save money. What is important is that we start doing it now. My friend also shared to us that he make it to the point to set aside an amount from his salary for his savings before he started planning on what to buy. This is a better idea than saving he amount left after we spend on our day to day activties. For me, since I am not relying too much on my online earnings, I am saving everything that I earned from here. Hopefully, next year, I could be earning more than I am earning this year because of some things that I have done this year which will bring me some passive income. Have a nice day!
• United States
21 Dec 12
When I created my monthly budget, I would have a line item in their on savings. I generally would try to put a set amount away into savings. I wish that my finances were in a situation where I could put money into savings, but right now it is like scraping to pay every bill. My budgeting these days takes upon a much more creative approach combining ideas for how to cut expenses, how to stretch every dollar farther, and forecasting cash flow to figure out how exactly I will pay each bill.
@ungu89 (2001)
• Malaysia
21 Dec 12
@aries, yes, for sure we need to separate first away the saving money from the spend money. if not, sure u will used more than u suppose to. haha @aire must be difficult to do budget list every month. huhu.. i don't want to be a grown up. so many thing need to be think off. arghhhh
@wolfie34 (26793)
• United Kingdom
20 Dec 12
In these hard times it is important to make sure you have enough money to put by, we never know what's around the corner and if we have saved money that will give us financial security. Even though our future is very unsure, it is good to save money. Budgeting is a good way of controlling our money and our spends and making sure we can at least put some by for tomorrow!
• United States
21 Dec 12
wolfie, good points. I think too that we have to learn to find satisfication in seeing our saving balances grow. I think this helps us to feel motivated to continue to put money aside rather than spend our money on impulsive things that catch our eye at the store. I have noticed that both a list and a budget helps to keep your focused to not overspend when you are shopping.
@ungu89 (2001)
• Malaysia
21 Dec 12
yes @wolfie, we never know, in future we need to use a lot of money, better save now. aire i still try to manage on budgeting while i shopping. still cannot control my habit
@dorannmwin (36698)
• United States
22 Dec 12
Unfortunately, our family hasn't been able to save or invest any kind of money in the last year because of a lot of bills that we've encountered in the past couple of years. However, I do know that our situation is going to be getting better next year as our credit card debt, all of which was accrued over three years ago, is going to be paid off. That all said, my plan is that I am going to try to save the money that I'm making online next year. It might not be a lot of money, but it is something and in the world that we are in right now, every little bit counts.
@ungu89 (2001)
• Malaysia
22 Dec 12
yes, rather to pay all the debts first before getting happy with what we have now. i also try to pay off the loan i make for my degree fees now.
@911Ricki (13602)
• Canada
22 Dec 12
If there is a will there is a way. I always redo my budget every month, and put so much away for savings. I am looking for another job to put more money away each month to reach my goals.
@ungu89 (2001)
• Malaysia
22 Dec 12
that's great, there are a lot job we can do only, right,
@jenny1015 (13389)
• Philippines
21 Dec 12
Good luck on that game plan of your. Hope it works for you.
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, i hope its will plan and goes well later.
• India
21 Dec 12
Hi friend, good to hear about this concept. Really it is a good one to follow. If we follow this step surely we will save money for our future as well as pay our bills and invest in a business which gives profit to us. Keep it up
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, certainly it will work. but really need to work hard. sometime the 70% is still not enough. haha
@ryanong (9694)
• Vietnam
21 Dec 12
It is nice when you think seriously of saving money now, It is never late when you have a plan for saving money. Just try ...never touch to your save money and you do save regular...you will be so surprised to see your saving money one day...
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, its really hard to think on it. put it aside from other, so i will never touch the 10% for the saving one
@peavey (16866)
• United States
20 Dec 12
That sounds like a good way to control your money if you can afford it. That takes a good 30% of the income. I can't afford to do that right now, but I do manage to save some as well as give to charity. I think the real key is finding what works for you and sticking to it regardless of whatever else is going on.
@ungu89 (2001)
• Malaysia
21 Dec 12
yes, when i was study i really cannot make any saving. that's why i try to learn more now. so that's why i will try this approach first. if it work for other, why not i give it a try