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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

Mhizta Yan
Mhizta YanActive Contributor
Asked: August 20, 2023In: Money & Business

What are the best way to save money?

There are different ways of saving money. Some people save money in the bank, piggy vest, under pillow,  some by fixed deposit, and by  local saving method. But among all the Saving method which one is the Best?

There are different ways of saving money. Some people save money in the bank, piggy vest, under pillow,  some by fixed deposit, and by  local saving method.

But among all the Saving method which one is the Best?

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  1. Ceejay76
    Ceejay76 Newcomer
    Added an answer on August 24, 2023 at 1:51 pm

    The first thing to do is to set a saving goal and you can do that by defining exactly what you are saving for, is it for: emergency, or to build house or to buy car or for retirement? When you defined your saving goal that will motivate you to save more. Another way of saving is by creating a budgetRead more

    The first thing to do is to set a saving goal and you can do that by defining exactly what you are saving for, is it for: emergency, or to build house or to buy car or for retirement? When you defined your saving goal that will motivate you to save more.

    Another way of saving is by creating a budget that is, you need to track your income and expenses to understand where your money is going. This will help you to identify areas where you can cut back in other to save more money.

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yusra
yusraTrusted Adviser
Asked: September 20, 2023In: Insurance, Money & Business

Can bundling insurance policies save money?

Can consumers potentially achieve savings on insurance costs by combining or bundling multiple insurance policies, such as home and auto insurance, with the same company to qualify for multi-policy discounts offered by insurers?

Can consumers potentially achieve savings on insurance costs by combining or bundling multiple insurance policies, such as home and auto insurance, with the same company to qualify for multi-policy discounts offered by insurers?

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  1. Precious
    Precious Knowledge Seeker KIDI CARE
    Added an answer on September 20, 2023 at 9:13 am

    Yes, building insurance policies can save you money in the long run by providing financial protection incase of unexpected emergency or damage in your property. Building insurance potentially save us money in different ways, it typically covers damages caused by various factors like fire, storms, orRead more

    Yes, building insurance policies can save you money in the long run by providing financial protection incase of unexpected emergency or damage in your property.

    Building insurance potentially save us money in different ways, it typically covers damages caused by various factors like fire, storms, or accidents, without insurance, you would have to pay for these repairs out of your own pocket, which can be costly.

    Creating insurance policies is really crucial.

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eldavis
eldavisEnlightened Mentor
Asked: August 4, 2023In: Money & Business

How does one handle every spending?

There is always one thing or the other that requires we spend. At the moment its more like the bills are way more than the money coming in. I have been trying to create some balance but I have not ...Read more

There is always one thing or the other that requires we spend. At the moment its more like the bills are way more than the money coming in. I have been trying to create some balance but I have not been able to fully achieve this. How do i plan my spending. I thought about creating a budget for myself but there are so many bills, most of them where not even planned so it seems the idea of having a budget would not be possible.

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  1. yusra
    yusra Trusted Adviser
    Added an answer on August 8, 2023 at 3:09 am

    Here are some tips for handling spending properly: Track expenses - Use a budgeting app or spreadsheet to categorize and record all spending, big and small. This creates awareness. Stick to a budget - Develop a monthly budget that allocates money towards needs, savings, and wants. Limit discretionarRead more

    Here are some tips for handling spending properly:

    • Track expenses – Use a budgeting app or spreadsheet to categorize and record all spending, big and small. This creates awareness.
    • Stick to a budget – Develop a monthly budget that allocates money towards needs, savings, and wants. Limit discretionary spending.
    • Use cash for discretionary purchases – Using physical cash for things like entertainment, dining out, etc. keeps recreational spending visible and limited.
    • Avoid impulse purchases – For any non-essential item, wait 24 hours before deciding to purchase it. Don’t make rushed spending decisions.
    • Assess needs vs wants – Differentiate between things you really need vs simply want. Spend on needs first.
    • Pay with credit card responsibly – Use credit cards only if you can pay the bill in full each month to avoid interest and debt troubles.
    • Question each expense – Ask if a purchase truly adds value and aligns with your goals before spending on it.
    • Shop with a list – For groceries and other essential shopping, go with a prepared list so you just get what you intend to.
    • Wait for sales – If possible, be a patient shopper and buy items when they go on sale or you have discount codes.
    • Buy generics – Opt for store brand generics over higher priced name brand items when there’s no significant quality difference.
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JAYBEE
JAYBEEActive Contributor
Asked: September 4, 2023In: Money & Business

What's your own way of saving money?

If you notice people have their ways of doing things. The same thing applies with money saving methods. What’s your own way of saving money?

If you notice people have their ways of doing things. The same thing applies with money saving methods. What’s your own way of saving money?

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  1. JAHDO1
    Best Answer
    JAHDO1 Newcomer
    Added an answer on September 4, 2023 at 9:43 pm

    Some people have different different ways of saving their money, some save their own at home, some give it to their friends or neighbor to save for them. Well is still save but as for me i can not save my money in that way. We are living in a civilization world day by day different ways of saving moRead more

    Some people have different different ways of saving their money, some save their own at home, some give it to their friends or neighbor to save for them.
    Well is still save but as for me i can not save my money in that way.
    We are living in a civilization world day by day different ways of saving money coming out every day.
    But as for me i use to save money in crypto currency Wallet like Trust wallet coinbase metamask or crypto exchange like Lbank Binance and so on.
    I prefer those one as the best.

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spencer
spencerEnlightened Mentor
Asked: August 10, 2023In: Money & Business

Is There Any Savings App You'll Recommend?

Do you have any idea of any savings app I can use to save money? Preferably one with interest rates so that I’ll be earning as I’m saving. List the number of apps you’re using below in the comments section

Do you have any idea of any savings app I can use to save money? Preferably one with interest rates so that I’ll be earning as I’m saving.

List the number of apps you’re using below in the comments section

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  1. eldavis
    eldavis Enlightened Mentor Graphic designer
    Added an answer on April 28, 2026 at 6:26 pm

    When it comes to saving apps, apps like cowrywise or piggyvesg often stand out. These apps actually gives yoy multiple saving options that best suits your needs. There are target savings where you can choose how much you want to save within a specific period of time, and also decide on the amount thRead more

    When it comes to saving apps, apps like cowrywise or piggyvesg often stand out. These apps actually gives yoy multiple saving options that best suits your needs. There are target savings where you can choose how much you want to save within a specific period of time, and also decide on the amount that would be automatically deducted from your bank account and the specific day and time you want it to be deducted. Another factor again is that you can actually lock your savings preventing you from touching it until the agreed time. 

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Suba
SubaKnowledge Seeker
Asked: August 24, 2023In: Money & Business

How to Collect Wedding Expenses?

Marriage is an important and sacred moment in one’s life, and everyone will plan a wedding according to their financial capabilities, from simple to extravagant weddings. but in principle the same. Couples (usually men) must provide a certain amount of ...Read more

Marriage is an important and sacred moment in one’s life, and everyone will plan a wedding according to their financial capabilities, from simple to extravagant weddings. but in principle the same. Couples (usually men) must provide a certain amount of funds for their wedding expenses and they must save/raise money first. How to save money for wedding expenses.

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  1. spencer
    spencer Enlightened Mentor
    Added an answer on May 15, 2024 at 10:26 am

    Saving money for wedding should be intentional, if you plan on getting married, you can start preparing from day one and save enough money for events, also depending on your capacity you can do a simple wedding or an extravagant wedding. You can also take a loan to do a wedding and pay back later, wRead more

    Saving money for wedding should be intentional, if you plan on getting married, you can start preparing from day one and save enough money for events, also depending on your capacity you can do a simple wedding or an extravagant wedding.

    You can also take a loan to do a wedding and pay back later, wedding is an individual stuff and you can do whatever works for you and your partner.

     

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bluebird
bluebird
Asked: April 27, 2024In: Money & Business

What percentage of your income should you save each month?

What percentage of your income should you save each month? Saving some amount each moth is always recommeded.

What percentage of your income should you save each month? Saving some amount each moth is always recommeded.

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  1. Ramolak19
    Ramolak19 Knowledge Seeker
    Added an answer on May 18, 2024 at 3:34 pm

    Well, It's common knowledge among financial experts to save 10% to 20% of your monthly income. This proportion makes it possible to save for retirement, establish an emergency fund, and meet other financial objectives. The optimal percentage, however, can change according on a person's unique situatRead more

    Well, It’s common knowledge among financial experts to save 10% to 20% of your monthly income. This proportion makes it possible to save for retirement, establish an emergency fund, and meet other financial objectives. The optimal percentage, however, can change according on a person’s unique situation, including their income, expenses, and financial goals. To maintain financial stability and make progress toward your goals, it’s critical to evaluate your financial status on a regular basis and modify your savings rate as necessary. Thanks 

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bluebird
bluebird
Asked: April 27, 2024In: Money & Business

Should you prefer paying off debt fist or save money first?

Should you prefer paying off debt fist or save money first? Paying of debt is equally important like saving money…..

Should you prefer paying off debt fist or save money first? Paying of debt is equally important like saving money…..

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  1. Slaky12
    Slaky12 Knowledge Seeker Cryptocurrency Engineering
    Added an answer on May 18, 2024 at 1:40 pm

    It depends if your debt has high interest rates, it might make sense to focus on paying that off first to avoid accumulating more interest. Once high-interest debt is under control, you can allocate more towards savings. However, having some savings for emergencies can provide financial security andRead more

    It depends if your debt has high interest rates, it might make sense to focus on paying that off first to avoid accumulating more interest. Once high-interest debt is under control, you can allocate more towards savings. However, having some savings for emergencies can provide financial security and prevent you from relying on credit cards or loans for unexpected expenses. It’s about finding a balance that works for your financial situation and goals.

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eldavis
eldavisEnlightened Mentor
Asked: September 5, 2023In: Money & Business

how much are you able to save every month?

Do you have a monthly savings plans? How much are you able to save each month? I used to have a monthly savings plan but i stopped, i am thinking of starting it all over again.

Do you have a monthly savings plans? How much are you able to save each month? I used to have a monthly savings plan but i stopped, i am thinking of starting it all over again.

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  1. Augusta
    Augusta Enlightened Mentor
    Added an answer on August 2, 2025 at 4:10 pm

      Honestly, saving $500 a month is a solid goal--especially if you're consistent with it. But it comes with challenges that one has to cross especially as a freelancer. As I'm a freelancer for now I'm not saving much because of less pay which leads to less money. But I know as One rule of thumbRead more

     

    Honestly, saving $500 a month is a solid goal–especially if you’re consistent with it. But it comes with challenges that one has to cross especially as a freelancer. As I’m a freelancer for now I’m not saving much because of less pay which leads to less money.

    But I know as One rule of thumb is to save 10% to 15% of your paycheck each pay period. Another savings strategy is the “50/20/30” Rule: set aside 50% of your paycheck for your needs, 20% for your savings & debt, and 30% for your wants. but if  it is possible one can try to save 15% of one’s gross income.

    But basically, I want to try to save  at least six months’ worth of my household income which I would set aside for emergencies and other bills that would come but that are very important

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yusra
yusraTrusted Adviser
Asked: September 15, 2023In: Money & Business

How can I save money from my salary?

With the cost of living continuing to rise, how does the average worker making a modest salary find ways to trim expenses, avoid unnecessary spending, put a percentage of each paycheck into savings, and take advantage of any employer-matched retirement ...Read more

With the cost of living continuing to rise, how does the average worker making a modest salary find ways to trim expenses, avoid unnecessary spending, put a percentage of each paycheck into savings, and take advantage of any employer-matched retirement contributions to build their net worth?

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  1. eldavis
    eldavis Enlightened Mentor Graphic designer
    Added an answer on October 30, 2025 at 4:06 pm

    To save money from your salary, you need to be intentional. To achieve this you need self discipline. Take out time to list out your needs and your wants, and then create a saving plan. You can have a separate account for your savings, this way you won't have to spend from your savings and it wouldRead more

    To save money from your salary, you need to be intentional. To achieve this you need self discipline. Take out time to list out your needs and your wants, and then create a saving plan. You can have a separate account for your savings, this way you won’t have to spend from your savings and it would also install self discipline as well. Having a specific amount for savings might also help, especially if you have a target.

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