What are you saving for?

@scheng1 (24748)
Singapore
October 6, 2015 12:39am CST
I think many of us are saving our money for something we want in the future. It can be as simple as a good meal in the restaurant. It can be for an annual event such as Christmas. What are you saving money for? Do you need to save for a very long time?
11 people like this
15 responses
@valmnz (12753)
• New Zealand
6 Oct 15
I have a small travel fund that I save money in regularly, otherwise we'd never get a holiday!
2 people like this
@scheng1 (24748)
• Singapore
6 Oct 15
Your country is such a beautiful country. I think you can just take a coach tour that goes round the country. Many of us here in Singapore love to travel to New Zealand. The exchange rate helps too. New Zealand is more affordable now than ever.
1 person likes this
@valmnz (12753)
• New Zealand
6 Oct 15
@scheng1 I think most NZer prefer to travel by car. But yes, there are some pretty good tours available.
1 person likes this
@jstory07 (69361)
• Roseburg, Oregon
6 Oct 15
I was saving for twenty years to fix up our house and get it ready to sale.
2 people like this
@scheng1 (24748)
• Singapore
6 Oct 15
I think you can consider renting out the house after you have fixed it up. You probably can add more rooms, and turn the house into a dual-key apartments. In this case, you can rent to two different families who have their own entrance to the house.
1 person likes this
@sugartoes (42048)
• Greencastle, Indiana
30 Dec 15
I'm saving cause I can & we are on a fixed income & need the extra $ plus have things we need to do next year after winter is over
1 person likes this
@scheng1 (24748)
• Singapore
31 Dec 15
That sounds like a good plan. At least when you have the money in the bank, you do not have to worry as much as those who do not have money in the bank.
1 person likes this
@sugartoes (42048)
• Greencastle, Indiana
1 Jan 16
@scheng1 your right it won't be NO WHERE close to where I'd LIKE to be but it will be something to work with I hope.
@buddha3 (1029)
• India
7 Oct 15
I'm saving to pay off my loan and for the business I want to start in the near future. I'm always thinking about it and make sure I save in every possible way to realize my dreams.
1 person likes this
@scheng1 (24748)
• Singapore
9 Oct 15
Since you are saving hard to fulfill your dream, you can make use of this time to study the existing businesses. You can learn about their good points, and weaknesses. When you start your own business, all of them are your competitors. You have to be better than them, so you might as well start to observe those businesses more carefully.
1 person likes this
@buddha3 (1029)
• India
9 Oct 15
@scheng1 You are right :) I already do it :) I am planning to visit a similar business next month when I visit my native :)
• Pune, India
7 Oct 15
DC Avanti! India's first mid-size engine supercar! Designed, Developed and Constructed wholly in India it costs a third of usual sports car and looks banging! It still does cost a lil bit of fortune but nothing I can't save for
1 person likes this
@scheng1 (24748)
• Singapore
9 Oct 15
haha, by the time you save up for it, they will have new model. Bear in mind that cars are not assets that increase in value. It is better to buy assets that increase in value first, and then use the profit to buy sports car. In this case, you still have your capital, and you have your dream car.
1 person likes this
• Pune, India
9 Oct 15
@scheng1 Well that's the exact reason why i wanna buy it ASAP and i don't need to save for it, in the next 5 years i'll be earning enough to get a loan and get my ride but yeah, ur advice makes sense, i will try to keep that in mind
• United States
6 Oct 15
I guess I'm lucky as I don't have to save money to do the things I want to do.
1 person likes this
@scheng1 (24748)
• Singapore
9 Oct 15
You must have worked very hard when you were younger. Nobody can get ahead in life without the habit of saving. It is a matter of timing and sequence. Those who work and save hard in their younger days can ensure a more financially secured future. Those who spend freely during their youth may have to work hard at their old age.
• United States
9 Oct 15
@scheng1 I worked 35 years and had good jobs that paid well. That's a big part of it.
@katsmeow1213 (29047)
• United States
6 Oct 15
Right now I'm saving for a house.
1 person likes this
@scheng1 (24748)
• Singapore
6 Oct 15
Good to hear that. It is a very tough challenge, but nothing beats home ownership. I hope that you have the money to buy the house that you like soon. It will take many more years to fully paid off the house, but there is nothing more satisfactory than to go home every night.
• United States
6 Oct 15
@scheng1 I have a house now, but I want a new house.
@else34 (13604)
• New Delhi, India
6 Oct 15
@scheng1,I save to get a small house of my own.Presently we- I and my family- live in an old house that was built by my grandfather.Now,as the family has grown bigger,we don't have sufficient space to live comfortably.
1 person likes this
@scheng1 (24748)
• Singapore
6 Oct 15
If the foundation of the house is strong, it might be cheaper for the family to rebuild into a bigger house. At least you do not have to pay for land. It means a lot of discomfort while they add a level more to the house, but it will allow the whole family to stay under one roof.
1 person likes this
@else34 (13604)
• New Delhi, India
6 Oct 15
@scheng1 Yes,the foundation of our old house is strong and we will rebuild the same house.The construction will be demolished and a new,spacious house will be built in the same place.
@rebelann (42519)
• El Paso, Texas
9 Oct 15
Save money?? I'd have to be totally debt free with no obligations to even consider saving anything, like so many I live paycheck to paycheck and I know exactly who to pay how much each month hoping the utlities won't rise.
1 person likes this
@scheng1 (24748)
• Singapore
10 Oct 15
I think once you have paid off your debt, you can save up the amount that you used to pay off debt. it is painful but necessary. Nobody can live happily and carefree when there is debt to service. Once your debt is cleared, you will experience freedom.
1 person likes this
@moffittjc (44723)
• Gainesville, Florida
6 Oct 15
I'm saving up for a down payment on a house. But mostly I am using any extra revenue I earn to put toward paying down my debt.
1 person likes this
@scheng1 (24748)
• Singapore
9 Oct 15
How did you get into debt in the first place? Perhaps you can analyze the real reason and the emotion behind it. I think debt is mainly due to emotional reason, and not about economic reason. It is good to clear off all debt, and then get your own house, and pay it off. Perhaps that will be your 20 years project.
@celticeagle (119388)
• Boise, Idaho
6 Oct 15
I'm like a squirrel. I like to have some money set aside for a rainy day. I get nervous when my account gets too low. I have been at zero and I don't care for it. So I will add a little here and a little there so I have some when it is needed.
1 person likes this
@scheng1 (24748)
• Singapore
8 Oct 15
Yes, I know how it feels to be poor. The fear is always in the air, but nobody likes to talk about it. Nobody wants to admit that poverty is very painful. It is always good to have money, and when we can work, and earn money, we must always save some of it.
@vandana7 (66925)
• India
6 Oct 15
Right now I have debts. About 12,00,000 INR. Home loans and overdraft. No, my home loan is nearly over, the 8,00,000 was borrowed by dad for a couple of his friends who are delaying repayment. Naturally I am tense because if the amount does not return, I would have to work to repay. Sad and bad proposition. But well...things happen. Right? I am crossing my fingers that they pay.
1 person likes this
@scheng1 (24748)
• Singapore
8 Oct 15
I hope that you will learn a lesson from this. Never lend money to anyone. If they are really poor, and in danger of losing their home or they will have to go without food, you give them just enough to pay one month mortgage or a few days of food, but never lend money to them. The money will not return, and the relationship will be affected.
@marguicha (100518)
• Chile
6 Oct 15
Fortunatly, I have enough money to live well if I stay within some limits. I have a house that I can sell should I need a lot of money for health reasons and my chidren as well off. I save pennies and dollars little by little for vacations ince every year. It is my only luxury.
@scheng1 (24748)
• Singapore
8 Oct 15
That is good. I hope that you are always healthy. The advantage of rich people is that they can afford good food, and they can have more time for enjoyment and exercise. I think many wealthy people are healthy because they can afford it.
@sharon6345 (136034)
• United States
6 Oct 15
I am not sure what I will be using my money for. I saved up for a year and bought my fridge for my room and shared my money a little. I feel good and now I am saving up for another shopping trip come next Sept. It should be nice.
1 person likes this
@scheng1 (24748)
• Singapore
6 Oct 15
Wow, that sure feels good. Whenever i save up for a year or more for a vacation, i feel very good when I finally make the booking for the trip. I will make sure that I make adequate preparation so that I will enjoy myself. It is my hard earned money, so I deserve to enjoy.
@sishy7 (27604)
• Australia
6 Oct 15
Nothing in particular - I save regularly just for the future, whatever that might be... I'm sure it will be beneficial, if not for me it can always be for my children.
@scheng1 (24748)
• Singapore
6 Oct 15
Yes, the money will come in handy for the future. I think having a goal increases the urgency of saving money, especially if the goal is to fulfill a life-long wish of someone we love. I am thinking of saving up to get another insurance policy at the moment. It will be an expense for the next 20 years if I buy the insurance.
1 person likes this