what is the best way to save money?

India
January 18, 2013 11:07am CST
Always money values going down. whatever the extra money you have now is different value in tomorrow. how do we retain. please suggest.
1 person likes this
13 responses
@sujaysen (594)
• India
18 Jan 13
To me, the best way to save money is the bank. There are many options for saving money and they can provide more rate of interest. But, there is always a risk depended on the market value. You cannot immediately withdraw money from that investment. But, money in the bank is more safe and easy to handle. Although your bank may not provide you higher interest rates than any other investment option. But, it is more and more secured. On an emergency, you can immediately withdraw money from your bank account. It is hassle free way to save your money. Although, I have mentioned that it is my opinion. It may vary from person to person.
• India
19 Jan 13
If you hold money in bank you always loose the money value. Because if you see past years money value is always going down. But if you invest on property I believe you can retain the value of your money. What do you think on this?
@sujaysen (594)
• India
19 Jan 13
Whatever I meant is the flexibility of handling your money. I have already said "There are many options for saving money and they can provide you more rate of interest" and as per your saying, property is likely one about that. So, if you invest your money in property, how can you get your money back immediately in case of an emergency? That is why I said that bank may not give you the higher interest but you can handle your money more flexibly.
@dorannmwin (36396)
• United States
19 Jan 13
Well, of course the best way that we can save money is to not spend it. I know that this is something that is far easier said than done, but it really is the truth. For us, this is something that we've not been able to do as well as we should be doing it, but it is something that we really are working on doing a lot better with this year than we've done in the past several years. I am hoping that our jump start with saving money is going to happen in the next month or so when we will be getting our federal income tax return back.
• India
19 Jan 13
Money is very important for living and running your life sweeter. Whatever the extra money you have it goes to savings. You should not able to retain the extra money value long time. this is the problem. what do you think?
@CatGods (4588)
• United States
18 Jan 13
Some people take 19% or 20% out of their pay checks and save that, while other cut down on services like tv. You can watch almost any thing for free online. Some buy food in bulk and when cooking make additional food and freeze it. Some people have a garden and grow some of their food or got fishing and hunting. Some people take old clothes and make then into other things like purses or quilts. Just remember, one mans trash is o=another mans treasure.
• India
19 Jan 13
Agree, This ways you can save your money but you loose your happiness. The question here is already you have the money. how do you retain the same value for your future?
@ARIES1973 (11472)
• Legaspi, Philippines
19 Jan 13
No matter how high our earnings might be, if we do not know how to save, we will surely have problem at the end. While most people save what is left after spending, it is a good thing to try saving ac certain portion of your income and spend what is left. This way, you can be assured that you are really saving and you only spend what you allot for it. Have a nice day. Hope it helps.
• India
19 Jan 13
Agree. Thanks for your suggestion..
@somupriti (353)
18 Jan 13
If you have some extra money in pocket then why don't you try property dealing. This area has good return ability and has future also.
• India
19 Jan 13
Accepted. you are right.
@MaylaJay (349)
18 Jan 13
I always just put it in a jar. I just put it there and say "I'm never going to touch it except for _________" Fill in the blank with whatever you want to save for. It helps if the money isn't in sight. That way you can save it and not ever look over at in and say "I can use that for a new pair of shoes!" :)
• India
19 Jan 13
As per my suggestion if you are staying in a developing country you alway loose the money value. Today you will put 100 in your jar. After 10 years the value of that money is 5. This is the difference. how do we retain?
@MoonGypsy (4606)
• United States
18 Jan 13
some ways that i save money is by going to the dollar store for most things. the dollar store is great. you can get anything you want in there from groceries to house hold items. i am also a coupon freak. another thing i do to save money is by saving all my change. i get my kids to do the same to. those extra nickles, quarters, and dimes really go a long way.
@oscar6 (1938)
• United States
18 Jan 13
There are many ways to save money. Buy generic brand foods at the grocery store. Make your own home products such as laundry detergent. One of the best money saving tools I have found is to make a budget, and stick to it. There are sites online that offer free budgeting tools for people trying to save. The site that I use is mint.com. They are completely free, very trusted, and provide a way for me to see what areas of my budget need to be reduced. For example my family likes to eat out a ton, and this site showed me exactly how much we were spending each month doing that. We were able to save 1000 dollars one month because of keeping such a strict eye on our budget. (And we are no where near rich!) Good luck to you! Oscar6
@DoctorDidi (7021)
• India
21 Jan 13
The best way to save money is to lessen your expenditure; the more you can curtail your expenditure, the more you can save. Of course, it is very difficult for one to curtail expenditure,if one has not cultivated this habit from one's childhood.
@Bhebelen14 (5196)
• Philippines
18 Jan 13
The best way to save money is by putting the 20% of your salary in the bank or somewhere safe. Also making list for your needs before going to the market or grocery will a help you to save money too.Saving money its so easy task as long as you have a determination and willingness to save.
• India
19 Jan 13
Saving money in bank is very bad. if you see past years always money value is going down. You should not retain the money value.
@Mavic123456 (22014)
• Thailand
19 Jan 13
that's true the value of the money is totally going down. People tend to work double so that the money at hand may still be sufficient to the daily needs. will there be any suggestion that will help us retain its value? hmmmm how about converting your money into gold by buying? At least the value of gold increases as time goes by. How about buying land and make sure it is a legitimate land for sale and not scam? In this way you keep the value of your money and increases it's value in the future.
@willc98 (67)
• United States
18 Jan 13
Most people spend every last dime of their pay checks and never save. The best thing to do is keep a list of where all the money is going and cut out some of your expenses that aren't absolutely necessary. Cook food at home rather than going out to eat. You have to sacrifice things to save money. I know it's hard because I love to spend it myself. Maybe after your bills you could put the extra money in a savings account/money market or give it to a trusted friend or relative to keep for you. Also you can save cans and things like copper to recycle. And keep a jar for all your change and don't count it, just fill it up. I did that and got close to $100 in just a few months.
• India
19 Jan 13
Whatever you suggested here is you can hold your money currently available for you. I agree. Still we can find a way to earn money more right?
@vivek19 (218)
• India
19 Jan 13
Money saving is the best way secure the future. I think you should buy gold for the money you save as gold price never ever go down much and now a days you can buy gold for as less as $1. Happy savings...