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What Saving methods do you use currently? Do you just spend all of your paycheck or you save some part of it in your savings account? Share with us how you do it and other tips you discovered personally about saving money
Depending on my income I cut 10-20 percent of my income and keep it in a saving account in a bank. After 6 months or so, I will have some amount that I will keep in high-yield saving accounts such as fixed deposit accounts. I also invest some money. I continue to save money as well as invest money.Read more
Depending on my income I cut 10-20 percent of my income and keep it in a saving account in a bank. After 6 months or so, I will have some amount that I will keep in high-yield saving accounts such as fixed deposit accounts. I also invest some money. I continue to save money as well as invest money. I save money to have emergency funds, retirement funds, as well as money to buy property. I invest money to grow my wealth.
See lessI only have a little money in a savings account, but I deduct all my income in fiat money by 20% and put it in a savings account, but after a sufficient amount I allocate it to deposits, or to mutual funds and stocks. But I often use property rental income to pay monthly bills. Meanwhile, income froRead more
I only have a little money in a savings account, but I deduct all my income in fiat money by 20% and put it in a savings account, but after a sufficient amount I allocate it to deposits, or to mutual funds and stocks. But I often use property rental income to pay monthly bills.
See lessMeanwhile, income from crypto trading and returns from staking I never take or sell, I leave it until the price of crypto is high.
Saving money is a very important quality for financial stability and security. Personally, I save using a mobile savings account on my phone. It is effective because it is a lock savings account and I don't access the money easily, hence it keeps me disciplined in saving. Alternatively, I invest myRead more
Saving money is a very important quality for financial stability and security. Personally, I save using a mobile savings account on my phone. It is effective because it is a lock savings account and I don’t access the money easily, hence it keeps me disciplined in saving.
Alternatively, I invest my money in safe methods. One great one being cryptocurrency trading. But of course I have to take my time and analyse the market well before investing.
See lessNigerian bank with their stress, i do save my money there before, but currently I don't save in the bank. Why don't i save my money in the bank? Saving my money in the bank it's like drawing my financial life backward or making it standby. Currently, I do save my money in crypto means, i can chooseRead more
Nigerian bank with their stress, i do save my money there before, but currently I don’t save in the bank.
See lessWhy don’t i save my money in the bank?
Saving my money in the bank it’s like drawing my financial life backward or making it standby. Currently, I do save my money in crypto means, i can choose to save in Bitcoin or Ethereum.
Most at times, I save my money in my Opay account knowing that I will be receiving my daily interest everyday.
"I currently use the 'Envelope Budgeting' method to save money. Each month, I allocate a specific amount of cash into different envelopes representing various spending categories, such as groceries, entertainment, and dining out. Once the cash in an envelope is used up, I stop spending in that categRead more
“I currently use the ‘Envelope Budgeting’ method to save money. Each month, I allocate a specific amount of cash into different envelopes representing various spending categories, such as groceries, entertainment, and dining out. Once the cash in an envelope is used up, I stop spending in that category for the month. This method helps me visually track my spending and prevents overspending in any particular area. It also encourages me to be mindful of my expenses and make informed choices throughout the month. For online transactions, I transfer the equivalent amount from my bank account into a digital ‘envelope’ to maintain the same budgeting approach.”
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