Are you good with your money? | Discussion Bucks

Are you good with your money?

Joshua Farrell

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Can you handle your money well? Explain your difficulties if you have issues with making sure you have money saved for your future.

Generally speaking, because of the living environment I am living in right now, it's been a bit difficult ensuring I have even a small percentage of each of my pay check left over, as there are a few people in the house that has issues that require needing to help them out almost on a weekly basis.
 
I am not that good when it comes to managing money. However, this is exactly why I am trying my best in order to create different kinds of plans and strategies that may help me become a much better manager. I utilise my personal finances, and I think that it may be a bit hard to be smart when it comes to spending and saving money.
 
I won't say that I am an expert when it comes to money matter. But I am learning and willing to learn. We have worked our way to financial independence. When it comes to investment, I don't have a huge risk appetite with my hard earned money. But I try to keep my financial portfolio diverse and invest where the risk is low or moderate.
 
The economy of my country is experiencing inflation and cost of foods is increasing. It is difficult to avoid expenses especially the necessities of day to day life. For over 7 months now, i have not been able to save a dime due to rising cost.
 
Actually, it is hard to manage our money this time instead of saving a big percentage, I mostly save only 10% of my total earnings from my offline work and offline business. I am responsible for paying all bills at home 😁as high as a mountain.
 
I like to think so, but fortunately for me, my wife is even better. She can squeeze a nicke; until the Indian is riding the Buffalo. For those who are not familiar with American Coins, back in the 1930's we had a 5 cent coin with an Indian on one side and a Buffalo on the other,
nickel.JPG
 
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I like to think so, but fortunately for me, my wife is even better. She can squeeze a nicke; until the Indian is riding the Buffalo. For those who are not familiar with American Coins, back in the 1930's we had a 5 cent coin with an Indian on one side and a Buffalo on the other,
View attachment 84
They are antique and valuable in thousands of dollars. Do you plan to sell them? That is rare. I have hoarded old coins but were stolen.
 
They are antique and valuable in thousands of dollars. Do you plan to sell them? That is rare. I have hoarded old coins but were stolen.
You can buy one on Amazon for $28
 
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Honestly, no, as I am easily tempted to make impulsive purchases, but I do my very best to save some money. That's why whenever I go shopping nowadays, I only bring enough cash with me and no cards to avoid being tempted.
 
Honestly, no, as I am easily tempted to make impulsive purchases, but I do my very best to save some money. That's why whenever I go shopping nowadays, I only bring enough cash with me and no cards to avoid being tempted.
That's good leaving the credit card. We're tempted agree with it. I love to purchase anything with the use of a credit card but no more extravagance this time because I surrendered my credit card. I am happy now I can save more.
 
That's good leaving the credit card. We're tempted agree with it. I love to purchase anything with the use of a credit card but no more extravagance this time because I surrendered my credit card. I am happy now I can save more.
There is issue with credit card because if you pay fiat currency you may calculate such spending while it would not be the case with credit card you do not track your expansions and feel as purchase for free this is main difference between them.
 
There is issue with credit card because if you pay fiat currency you may calculate such spending while it would not be the case with credit card you do not track your expansions and feel as purchase for free this is main difference between them.
I am still planning to apply for a credit card it's also safer. I only need to discipline myself. I have to list down what to purchase and estimate their value to avoid over spending and control extravagance.
 
To be truly honest, i am not all that good in managing my money. There are still times i battle with impulse buying, there are times i find it hard to save due to so many things i have to sort out and so on.
 
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It's hard to manage our finances especially if there are many nice things we want to buy and even like to buy not useful lol. But this time I learned many things from forums.
 
It is said that savings is the starting point of all riches and wealth building. Over the years I struggle when it comes to safe you to a month out of the income are generated from my salary in the workplace. If I manage to save little amount of the money over time I going to spend them instead of investing when I don't have any money on me. I am planning to start with just 5% of my income and over the time increase it to 10% income.
 
@magnus2022 . I totally agree there. Inflation is soaring high across the globe. Savings is getting tougher with this kind of inflation for people across the economic group. At present, my daughters are into college years. So, a good amount goes for their college education. Glad that we saved enough for their education before the pandemic. Recently, it's been a challenge to save a decent amount. We have to find more ways of earning.
 
@magnus2022 . I totally agree there. Inflation is soaring high across the globe. Savings is getting tougher with this kind of inflation for people across the economic group. At present, my daughters are into college years. So, a good amount goes for their college education. Glad that we saved enough for their education before the pandemic. Recently, it's been a challenge to save a decent amount. We have to find more ways of earning.
My country case is worse and people are suffering from economic insecurit. Inflation in my country is unbearable and many are going to sleep without food. It is unfortunate
 
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Many people are suffering inflation this time so it is hard for them to save their money in the bank. The priority of most people this time is food. But the wealthy never care about financial struggles. However, let us not forget to save no matter how hard life is.
 
Actually, it is hard to manage our money this time instead of saving a big percentage, I mostly save only 10% of my total earnings from my offline work and offline business. I am responsible for paying all bills at home 😁as high as a mountain.

Well, I think that it depends a lot on how much you earn. However, there are many other factors as well that could have a really huge impact on how much you can save in the end. I must say that inflation plays a really huge role. In my country, inflation has been destroying the savings plan of many people. This is why they are simply not able to save enough money in the end.