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saving advice by the experts...

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richa88
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saving advice by the experts...  Reply with quote  

give saving advices...
Post Thu Apr 19, 2012 9:03 am
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viktor07
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1). Make a list of your monthly purchases

2). Set your financial goals

3). Have a motivation and stay motivated

4). Do not purchase items you want, but purchase items you only need.
Post Fri Apr 20, 2012 5:50 pm
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fast
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Re: saving advice by the experts...  Reply with quote  

quote:
Originally posted by richa88
give saving advices...

Know when to stop.
Post Sat Apr 21, 2012 7:26 pm
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viktor07
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Re: saving advice by the experts...  Reply with quote  

quote:
Originally posted by fast
quote:
Originally posted by richa88
give saving advices...

Know when to stop.


That is the best advice.
Post Mon Apr 23, 2012 5:25 pm
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fast
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Re: saving advice by the experts...  Reply with quote  

quote:
Originally posted by viktor07
quote:
Originally posted by fast
quote:
Originally posted by richa88
give saving advices...

Know when to stop.


That is the best advice.
Well, I wouldn't go that far.

Once weíve saved a good bit, maybe we should stop saving money and start investing it instead. But then again, can I invest money unless I have already saved it? How about I just invest it after Iíve earned it and skip the savings altogether? Is that even possible?

Can I make the choice to invest money instead of saving money if I make the choice to spend less than I earn, or is saving money involuntary should I choose to spend less than I make? Granted, I can invest money if I have money left over after earning it and expenses, but can that invested money be money that wasnít saved?
Post Tue Apr 24, 2012 12:15 am
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oldguy
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quote:
How about I just invest it after Iíve earned it and skip the savings altogether?


That is what I have always done, I seldom keep a savings account.

quote:
I can invest money if I have money left over after earning it and expenses, but can that invested money be money that wasnít saved?


If you spend first and invest what is left over each month you will probably always be poor. If you do the opposite - ie, auto-deposit your investment at the first of each month and spend what is left over, you will probably become wealthy. It is an important distinction, often over-looked or minimalized.
Post Tue Apr 24, 2012 12:28 am
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fast
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quote:
Originally posted by oldguy
quote:
How about I just invest it after Iíve earned it and skip the savings altogether?


That is what I have always done, I seldom keep a savings account.

quote:
I can invest money if I have money left over after earning it and expenses, but can that invested money be money that wasnít saved?


If you spend first and invest what is left over each month you will probably always be poor. If you do the opposite - ie, auto-deposit your investment at the first of each month and spend what is left over, you will probably become wealthy. It is an important distinction, often over-looked or minimalized.


A few things:

1) I think we both share the sentiment that there is such a thing as too much savings. Of course, most people will hear that and think something is wrong with us, but that is because their view of savings include investing whereas our view of savings exclude investing.

We (you and I) will probably keep enough non-invested money on hand to cover small to medium emergencies should they arise. You might keep near $5,000 or so. I might keep near $10,000. Either way, it's very unlikely that either of us will applaud the other should we discover that one of us has saved $40,000 since holding money that we would characterize as savings is (to us) akin to a misuse of money. It makes no sense to us to hold on to that kind of money when it could be put to much better use; for instance, we would (instead) invest the money--not hold it as savings. Savings is too safe and therefore virtually guaranteed to not bless us well in terms of returns on our money.

2) You talk about "spending then investing" versus "investing then spending." The latter reminds me of the concept of paying ourselves first. I can appreciate that. I'm much more likely to become wealthy with the frame of mind you espouse.

3) Back to point 1. I don't rightly know if savings exclude or include investing. I've seen sites that support both views. I'm definately leaning towards the notion that savings exclude investing;however, there is a popular view that all earned money post consumption is savings. Oh what is that formula? Disposable income minus personal expendatures--something like that? So, to them, money put into a savings account is savings, yes, but in addition to that, money invested in stocks is also savings, even if it is also investing.

There's a lot of links to link to, but here is a recent one I viewed that gives a short rough overview:
link
Post Tue Apr 24, 2012 2:47 am
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oldguy
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quote:
there is a popular view that all earned money post consumption is savings. Oh what is that formula? Disposable income minus personal expendatures--something like that? So, to them, money put into a savings account is savings, yes, but in addition to that, money invested in stocks is also savings, even if it is also investing.
There's a lot of links to link to, but here is a recent one I viewed that gives a short rough overview:


Have you noticed that the 'popular view', the referenced links, the articles are written by journalists/planners that are not wealthy? Makes you wonder - why am I listening to these guys, shoiuldn't they be listeneing to me? lol
Post Tue Apr 24, 2012 5:00 pm
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fast
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quote:
Originally posted by oldguy
quote:
there is a popular view that all earned money post consumption is savings. Oh what is that formula? Disposable income minus personal expendatures--something like that? So, to them, money put into a savings account is savings, yes, but in addition to that, money invested in stocks is also savings, even if it is also investing.
There's a lot of links to link to, but here is a recent one I viewed that gives a short rough overview:


Have you noticed that the 'popular view', the referenced links, the articles are written by journalists/planners that are not wealthy? Makes you wonder - why am I listening to these guys, shoiuldn't they be listeneing to me? lol
argumentum ad crumenam

Just kidding! But you're still probabably right--they should be listening to ya!
Post Tue Apr 24, 2012 11:48 pm
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clintfoushee
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I am planning to invest but I don't know what.any suggestions?
Post Wed Apr 25, 2012 6:24 am
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richa88
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planning for future is very important
Post Thu May 17, 2012 9:07 am
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debedwards
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Here are 45 ways to save money. I hope this can help.

http://financialhighway.com/45-ways-to-save-money/

elder care specialist | long term care insurance costs | life line screenings
Post Fri Jul 27, 2012 4:50 am
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Johnkewin
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Saving Advice  Reply with quote  

In life everyone need a savings. Some peoples don't aware of their family they waste their money and waste their life. Now the more number of saving consultants are available from that they get a guide lines and best tips to save a money. Saving money is more important for life. Now they taking it as a simple after the marriage it is difficult to start a life and also insurance is more important to life.
Post Thu Aug 09, 2012 11:37 am
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Anton Martin
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Here are few options for you  Reply with quote  

Hello Richa,
There are so many option as far as investments and savings are concern,

1. 401k Plan From your employeer (If employed).
2. invest in Health Insurance or Medicare Plan.
3. Annuities can be a good option for you.
4. Stock investments.
5 Life Insurance Policies.
There are more options available it's up to you how you wants to invest your money and save your money. If you need more information please reply with your option.
Post Tue Nov 27, 2012 10:26 am
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