Advice For Saving Money

What is the best advice to save money while living in USA?

There is one simple saving tip that will last you a life time and will apply to anyone and everyone.Save as soon as you get paid, not at the end of the month.  If you get paid weekly, save on a weekly basis.I am not sure what your goal is and what is included in your current living situation. Only you can decide how much.It could be $1 or $5 or $50, whatever it might be, save it first and then proceed with your needs. Needs, not your wants.I have an auto deduct setup for the day after I get paid, for the rest of the month, a weekly budget, bills that never change, gas money, even flower money for my wife :-) etc etc.Boring is good.I don't think I sacrifice anything, just smart about spending.I watch movies but during the middle of the week when they have special deals. Same thing for meals and fun activities, most of the time it is a buy 1 get 1 free or a special groupon or something.Once I have saved enough, I invest. Some in safe bonds, some in the stock market.Good Luck.@harisarshad#notanexpert

What is some advice for someone who is horrible at saving money?

When it come to your money, one thing you must remember and it is this: a person has infinite “wants” and a few “needs”. The needs are food, shelter ,housing. clothing, medical care, some would say love too. your wants would include over 0verseas travels, cruises,plasma tvs, expensive cars,jewelery, cigarettes etc,you get the point. Each person’s needs and wants will not be the same but you get the picture .Since you have infinate wants,try to supply your needs .When you get your pay,what are the crucial needs you have to satisfy? Get a plain piece of paper. Draw a horizantal line at the top then vertical line that cuts the horizantal line in the centre. On the left side write down your salary. On th right ,write down your expenditure ie what you will spend your salary on for the month or week. add up your expenditure and subtract the sum from your salary. If your expenditure equals to your assetts in that you have you will have zero left. this is not the way to live unless it is your last day on earth. modify what you have to spend till you see a surplus .you should save the surplus. invest some for long term.It could be a bank’s fix deposit or a mutual fund stock or bond fund. In other words live below your means and save and invest the surplus. some people’s surplus are is 10% or 20 or 30 and even 50%or more. Operate your money like a business. A business must have money to re-stock after all their expenditures have been met or else they wont be in business for long.

Why do people always advice on saving money rather than spending even when one has a steady source of income?

Income is, at best, only partially dependent on you so the income you produce may involuntarily end.Income is partially dependent on you so you may no longer be physically, mentally or emotionally capable of creating income at some point.You need to diversify your potential sources of value in a way that is greater than just your own efforts.You need to give back to the rest of society in a measurable way. You don't do that by wasting your extra money on things you don't really need.Most people should primarily invest in others, not themselves.Be ready to take advantage of unexpected positive opportunities or deal with unexpected negative events.It is the best way to avoid ‘wage slavery’. In fact, it is the only way I know of.