Good way to save money make you grow fast

[Tobi]

The best way to save is to first deduct a certain portion of your income that you would wish to save (ideally it should be 30% of your income).

This amount should be deducted the very same day your salary gets credited and it should be immediately invested.

If it is not invested then there is no point, as eventually it will get wiped out in some silly expense or the other on a future date.

Once you have decided the amount, the next thing to do would be to do a financial plan. This will tell you exactly how much you need to invest and for which goal.

 

[Alberello75]

The best way to save is to first deduct a certain portion of your income that you would wish to save (ideally it should be 30% of your income).

This amount should be deducted the very same day your salary gets credited and it should be immediately invested.

If it is not invested then there is no point, as eventually it will get wiped out in some silly expense or the other on a future date.

Once you have decided the amount, the next thing to do would be to do a financial plan. This will tell you exactly how much you need to invest and for which goal.

I would agree only on this planning if weren't for the fact that such expenses are unfortunately often unexpected and also urgent to be paied. So I ask, if I invest that money, how else could I afford it?

 

[eLdavis]

Saving before you start spending is very important, but i personally do not have a specific percentage at the moment but investing is also another way to go about it.

 

[Alberello75]

In my opinion, knowing how to save is already a source of income. When we talk about income, we shouldn't just consider the money coming in, but also the money that isn't spent.

 

[oliver991]

Pay yourself first. That 30% rule really works if you treat it like a bill you owe to yourself. Automate it, forget it, and let compounding handle the rest.