Do not save what is left after spending, but spend what is left after saving

[Starmix]

Most of us never think of saving, but rather spend incorrectly. It is important to note that prioritizing a portion of your income for savings and investments before allocating funds for discretionary spending. This ensures that you are consistently building wealth and securing your financial future.

By saving first, you become more aware of the resources you have available for spending. This can lead to more conscious and intentional purchasing decisions, helping you avoid unnecessary expenses and prioritize what truly matters to you. Saving before spending allows you to allocate funds towards your long-term financial goals, such as retirement, education, or home ownership. This approach helps you stay focused on your priorities and make progress towards achieving them.

Lastly, making saving a priority requires discipline and commitment. By consistently saving before spending, you develop a habit of responsibility that can benefit you throughout life.

 

[Trush Jodie]

I want to believe that this implies that you don't spend any of your earnings till you have taken out the percentage you have designated as savings.

 

[Starmix]

Despite of the fact that saving is essential but circumstances like having a small salary is one factor why some people cannot save. Yes, they spend what they earn but those they spend for are intended for the daily needs which expletives isn't enough. Those whose income are significantly higher must save first and spend only after doing it.

 

[Stardom22]

I agree with that. The savings should be given the first priority for that matter. In most cases when you spend what remains after making some savings then you are likely to achieve the financial goals with ease.

 

[Starmix]

If you plan to save after you spend don't expect that you still have the interest to save some amount in the bank. Most likely, your money will be no more he he.

 

[Augusta]

I spend after saving because I know that we can't spend what we do not have

 

[Starmix]

The effects of spending before saving are crucial. There might be no money left to save after doing it. The best is to spend only after you save. Save what's left.

 

[eLdavis]

Indeed the best method would be to save first before you start spending. This way you can save something reasonable.

 

[Starmix]

You will be tempted to buy what your eyes like, but it will hurt your wallet. Save first and spend what's left after saving. Budget the remainder well.

 

[Springtime]

Yes, that's why I have the habit of putting a portion of my monthly earnings to my account. That is to ensure that I save first. I spend or invest the rest of my earnings.

 

[Starmix]

You can also calculate by creating a computation. List down what to buy after you set aside the money to be deposited in the bank. That way, you will know if your budget is enough after you set aside the amount to be saved in the bank.

 

[Augusta]

Saving money is key to future funds availability. So we need to spend after saving

 

[Starmix]

Spending before saving us crucial. There's a tendency that the money intended for saving will be spent all. It is best to save first and spend what is left after saving. This makes sense.

 

[Augusta]

Saving is better than spending. It is good to always save before spending and spending should be wisely

 

[Starmix]

It is also interesting to buy and buy the things we like; however, after spending, the realization comes in that money is no more.

 

[Trush Jodie]

Savings is difficult when income is not enough. The best thing is to let automated savings run on your accounts so that savings can be deducted.

 

[Starmix]

Employed people can auto save, but those not, it's hard for them to save, however someday if they can manage a business I am very sure that saving is their priority.

 

[Augusta]

It is also interesting to buy and buy the things we like; however, after spending, the realization comes in that money is no more.

That's humans for you. It is good to avoid this as we would just go broke in no time.

 

[Starmix]

That's humans for you. It is good to avoid this as we would just go broke in no time.

That will surely happen if you lack a self - control, discipline, and no financial literacy. One may become dumb spending without thinking that may resort to overspending which may lead to suffer financial distress.

 

[Nomad]

sadly, for most people saving means saving what is left at their hand by the end of the month. You should always deduct saving when you receive payment