I want to know the best Ways To Save Money

Discussion in 'Business Advice, Questions & Discussion' started by andrea10, Feb 24, 2012.

  1. andrea10

    andrea10
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    I need advice to manage my personal finance. I am IT Professional and self employed fashion designer. My annual income reach up-to 4.5 lac's. I have invested money in HDFC mutual funds, some Insurance plans and in Gold. I read some articles on "Best Ways To Save Money" but I did not get satisfying information on it.
    Can anybody here share their ideas and views? I want to know more about saving and investing ideas because I don't understand where I spend my money every time and how should I manage my finance?
     
    #1 andrea10, Feb 24, 2012
    Last edited by a moderator: Feb 25, 2012
  2. ThirdSEO

    ThirdSEO
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    Have you heard of www.mint.com? It's a great site for keeping track of your personal finances. It separates all your spending into different categories so you can see what you're spending your money on. It also has features like goal setting and text alerts. You can even access it from your smartphone if you have one. It's definitely worth checking out.
     
  3. Michael Leng

    Michael Leng
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    You wanna save money or make money by money ? Invest what you specialize in it it would be fine. Don't forget this state " High risk high return "
     
  4. andrea10

    andrea10
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    I agree to the term High risk high returns and I am planning to deal any land so that I can sell it after few years. But I don't have an idea what all risks are involved in this.
    @ThirdSEO
    I was not aware of Mint, I have visited that website it seems quite useful for finance management. Even it seems more popular for mobile internet users.
     
  5. amac

    amac
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    If you use online banking, you can usually take advantage of tools that will automatically start budgeting and setting money aside for you in accounts you choose. Using your bank, you can also setup savings accounts or take advantage of other products such as ISA's to start saving money.
     
    #5 amac, Feb 25, 2012
    Last edited by a moderator: Feb 25, 2012
  6. stellaandreapark

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    If you are engaged in online business, the best way to save money is use your money to the right, proper tools for your business. It is not good wasting money to tools that are not effective.
     
  7. Eugene24

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    I think sow, if you want to save money you need rent it in something for example like house, flat or something other and rant it.
     
  8. MFeynmann

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    The best way to save money for me is to put them in bank and wait % each month or invest in business and make money out from money. Try to learn some economy, business, it's very helpful if you want to manage your money and make more :)
     
  9. Business Attorney

    Business Attorney
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    The best way to save money is not to spend it in the first place. You need to keep track of what you spend, but that won't help if you go ahead and spend the money anyway. It takes discipline, but you have to be able to distinguish between what you want and what you NEED. If you are thinking of spending money on something you just want, stop and think about it again.
     
  10. marymiller

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    I think sow, if you want to save money you need rent it in something for stock market.
     
  11. Michael Leng

    Michael Leng
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    Absolutely agree for rent something. But first have to invest with big amt. of money for being an owner. I bought a room in a flat and rent which money of rental covering monthly bank installment.
     
  12. rlhealthcare

    rlhealthcare
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    Hello,
    The best way to save money for me is to put them in bank and wait % each month or invest in business and make money out from money. Try to learn some economy, business, it's very helpful if you want to manage your money and make more.Bank is the best for you...
     
  13. cesspadilla

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    Well you just got to be more knowledgeable with all your finances, maybe using ThirdSEO's suggestion might be a good way to start.

    Cool idea of managing all your finances.

    I was actually saving money to buy my own place... maybe like a duplex house. I'll make the other part of the house to be rent. If I did earn money from that I'll buy a land maybe and put up a small apartment building. I do hope that I can get to my goal before I become 30 lols.
     
  14. kundansingh

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    there is risk everywhere but you should take chances after studying the market , gold is good investment but returns are not to high:)
     
  15. Krisz Rokk

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    Invest your money in your financial education! If you have a sound financial education you will know exactly what to invest in.
    There's no right or wrong when it comes to investment "vehicles". People make money on the stock market, with real estate, with businesses, with royalties etc.
    Accumulate financial knowledge and you'll know what vehicle is best for you. Check out Robert Kiyosaki for a start.
     
  16. andrea10

    andrea10
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    Yeah of-course I have to increase my financial knowledge and that is reason I thought to discuss my planning here. All of you have suggested different ways and different views for saving money.
    @Krisz Rokk
    I could have been invested to increase my financial knowledge but I don't have that much time for it. I just wanted to know some other ideas for saving and investing and so many people shared their thought here which are helpful for me to invest my money somewhere.
     
  17. firstchoicecar

    firstchoicecar
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    I agree with you guys, Investing in the best way in saving money. But you must be sure that your money will be safe in any firm where you will invest your money. For me I want to invest my money in some real estate business.
     
  18. Eugene24

    Eugene24
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    i agree that invest in business it is the best way, but also a big risk as economy is not strong nowadays... sow everyone have to invest in that, that he well known in.
     
  19. amac

    amac
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    The best way to save money I think, fundamentally, is to look after your own money. Obviously you can't do this literally, but getting as close to it as possible i.e in terms of planning, investing, spending etc is a good thing to do.
     
  20. John Crosby

    John Crosby
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    my father tries to save money in different banks.. also he earn from that.. but the problem is that no any bank is eternal!... so... sometimes banks dies and of course you lose your money... it's a risk!.. my dad have experimented for long time and decided to keep money in many different banks.. that's less risk LOL
     

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