Proper Money Management Techniques

Discussion in 'Growing and Managing a Business' started by ZakShow, Sep 1, 2010.

  1. ZakShow

    ZakShow
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    Do you agree with this statement?

    After a lot of research, I found out that the only way to guarantee the financial comfort is by following proper money management techniques that will allow you to track all your expenses and cut down all the unecessary one.

    What money management technique do you use to guarantee financial comfort?
     
  2. businessamateur

    businessamateur
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    Specific techniques I use? Hm, I am not sure there are any. I just make sure that I do not buy anything that I do not need. My girlfriend on the other hand believes that its perfectly fine to get anything you want.

    I believe it is usually the "want" mentality that gets people in trouble.
     
  3. MichaelSullivan

    MichaelSullivan
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    Money is of necessity to everyone and that’s a fact. I do not actually have a standard formula but I make sure to save at least 10% of my salary from my full time job and a portion of earnings from my part-time job. I also do not favor compulsive buying. When I want to purchase something, if it’s just a want and not from my list of needs I save for it or I work harder to have extra money to allot on it.
     
  4. brownnataly21

    brownnataly21
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    I agree with the statement, but I feel sad that for some people money become everything in this world and they forget about all the rest.
     
  5. onlinebiztrust

    onlinebiztrust
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    I just use my money wisely, i never buy anything especially if it's not needed. I always save my money for good so that when emergency situation comes along the way i have somthing to get in.
     
  6. MichaelSullivan

    MichaelSullivan
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    Hi brownnataly21, yes what you said is sort of a reality. There are times when people get over ruled by the power of money. It's a sad truth. But then, let not money be our master but US.
     
  7. Scottypops

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    I am not an impulse buyer. I don't buy crap I don't need and I am patient when it comes to buying cars and major purchases so I can negotiate the best deal. I have cash available for emergencies, but as far as money management goes I would recommend some stocks, mutual funds, Roth IRA, etc.
     
  8. 50Cent

    50Cent
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    I save money almost everyday.. Like before going to school i will just throw in either $2 or $0.50 into my money saving box. And if you do this everyday the amount of money will slowly increase at times.
    I hope this is one of the technique. I also don't spend my money when needed.. i only spent when i need to buy important items or stuffs.
     
  9. chloe_wong

    chloe_wong
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    oh, I don't have any plan about how to use or save money at this moment, should make plans soon, which is actually really necessary, I think.
     

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