How to save money? Is there a best way to save money?

Philippines
October 31, 2009 11:46am CST
Since my childhood days, my parents, especially my mother always reminds me to save money. They started to tell me this even I was a student then. They told me to save out from my daily allowance. Even I reach the adolescence stage, they still reminds me of that. Years passed by, I have graduated from school and start a job hunt, this advise was still a part of their reminders to me. Until I already have found a good job. Nevertheless. I am very thankful that my parents keeps on reminding me to save money. For I know, they are just doing their part as parents. And this reminder is really for my own good. And now, even I have reach the adulthood of my age, still my mother reminds me to save money though she knows that I am not that extravagant in spending and I am also doing a part to save a little penny from my pocket.
1 person likes this
3 responses
@coffeebreak (17815)
• United States
17 Nov 11
My parents always told me to save. But it was more like..just don't spend! But in my long life, I have found that "save a little to save a lot" works rather well. No, you won't save enough to buy a car..but you will save enough over the year to pay for christmas, birthday presents, special things like that. It just means that you save all the little things you can, when you can, as often as you can...even tho it is a small amount. If you put one dollar a week away...at the end of the year..you have $52. How about a dollar a day? That would get $365 at the end of the year. It is a small amount, that you won't bother remembering it to use in your budget or to spend it recklessly, but at the same time, it all adds up. Toss all your coin change in a jar/can adn when it is full take it to the bank or Coin Star and cash it in. Usually is costs to open a savings account, and frankly, with the tiny little bit of interest you get these days...it is hardly worth bothering with, so find a safe place in your house to hide your "stash". Back of the closest, but easy to toss change into. Jar under the bed, just somewhere handy, but not visable so you aren't looking at it all the time. "out of sight, out of mind" is another motto I have for saving. Then just dilligently add your change to it whenever you can and watch it add up!
@funkeyguhl (1743)
• Philippines
26 Dec 09
I have been saving my money since I was a kid too. This is actually helpful because I remember that when times were tough in the family, I was able to use my savings as my allowance until such time that we were doing okay again. Right now, I actually moved to a different kind of savings - it's what they call investment. My husband and I have started investing our money to something more profitable and that is through business. Hopefully with this, we would be able to 'save' and be prepared for the rainy days.
@free_man (7335)
• United States
31 Oct 09
Your parents sound very wise! I have always saved every penny that I get into a jar in the bedroom when I get undress I put my change into that jar. It will build up in time. When that jar gets full take it to the bank and put it into a savings account and don't spend it. Soon you will find that you will have lots of money at the end of the year. This can be your Christmas money. Good luck and keep up the good work.