Timeline for What is the most effective saving money method? [closed]
Current License: CC BY-SA 3.0
22 events
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| Jan 18, 2017 at 23:50 | comment | added | jamesqf | @Cort Ammon: Yes, that certainly could be a reason (and a good one) to save. It's just that with me, it was a more-or-less accidental side effect of making decent money, but not spending it on things I really didn't want. Indeed, I didn't really figure out what I was (not) doing until I'd been doing it for a decade or thereabouts. | |
| Jan 18, 2017 at 5:05 | comment | added | Cort Ammon | @jamesqf So I would feel comfortable saying that saving "for peace of mind" qualifies as a thing to save for (at least the way I intend to use the phrase). You can then look at how much money you have saved and say "is this enough to give me peace of mind?" which is a powerful and important question. | |
| Jan 18, 2017 at 5:03 | comment | added | jamesqf | @Cort Ammon: I've found that having a rather large amount in "savings" results in peace of mind, even though I don't intend to spend any large part of it. Really, what else would I do with the money? I spend on what I want, but I just don't want, and in some cases positively want to avoid, a lot of what most people spend money on, seemingly simply because they have it. So getting out of that "you have to spend what you make" trap would help a lot of people. | |
| Jan 17, 2017 at 22:23 | comment | added | Cort Ammon | @jamesqf But nobody can eat money, so saving is only useful if you eventually spend it. General concepts of what you are saving for help you save in the right ways. For example, if you are saving to make sure you can buy a new car if you need to, you can stop once you have enough money for that. It also helps once you switch from saving to investing (which you mention). Knowing how you intend to pull that money out affects the investment choice. | |
| Jan 17, 2017 at 21:52 | comment | added | jamesqf | @Cort Ammon: I don't think the "saving for" is generally applicable. For instance, most of the time I (and I expect many people) make more money than I can spend on things I really want or need. A lot of people would spend that extra money just because they have it to spend, while my default reaction is to save/invest it. Why either of us do what we do is probably a better question for a psychology forum. If someone could switch that basic attitude (and I don't know if that's really possible), saving becomes natural. | |
| Jan 17, 2017 at 1:27 | history | closed |
mhoran_psprep not-nick Brythan Victor Chris W. Rea |
Needs more focus | |
| Jan 17, 2017 at 0:51 | history | edited | Ben Miller | CC BY-SA 3.0 |
reword for grammar
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| Jan 16, 2017 at 23:53 | comment | added | alephzero | Discover the fundamental truth that "happiness is wanting what you have, not having what you want". After that, accumulating money is just a nice side effect. | |
| Jan 16, 2017 at 23:50 | comment | added | Cort Ammon | I don't want to add an answer when all of the "budgeting" answers are the best, but I did want to mention the other half of saving. Budgeting will help you be aware of where your money goes, but you should also be aware of what you are saving for. Understanding the kinds of purchases you are saving for is almost as important as understanding how to go about saving it in the first place. | |
| Jan 16, 2017 at 23:15 | comment | added | Jared Smith | Saving money is like losing weight. Any reasonable method will work as long as you stick with it. Over the next couple years try to add a new good money habit every 6 months. You will find that some work well for you, others not as much, and that those buckets might be a little different for you than the next person. Don't use finding an "optimal" solution as an excuse to put off getting started or to bounce around from silver bullet to silver bullet. | |
| Jan 16, 2017 at 21:30 | review | Close votes | |||
| Jan 17, 2017 at 1:27 | |||||
| Jan 16, 2017 at 21:15 | comment | added | barbecue | Strategies and processes only work if you actually use them, so the most effective method for you to use to save money is the method that you will actually use. And that's up to each person, so this can't really be answered. | |
| Jan 16, 2017 at 21:12 | comment | added | user22731 | money.stackexchange.com/help/dont-ask "Your questions should be reasonably scoped. If you can imagine an entire book that answers your question, you’re asking too much." | |
| Jan 16, 2017 at 19:46 | answer | added | spickermann | timeline score: 7 | |
| Jan 16, 2017 at 19:39 | answer | added | keshlam | timeline score: 3 | |
| Jan 16, 2017 at 19:35 | answer | added | coteyr | timeline score: 1 | |
| Jan 16, 2017 at 19:35 | answer | added | ami | timeline score: 2 | |
| Jan 16, 2017 at 18:59 | comment | added | Mason Wheeler | Simplest strategy: Don't buy stuff you cannot afford. | |
| Jan 16, 2017 at 17:58 | history | edited | JTP - Apologise to Monica♦ |
edited tags
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| Jan 16, 2017 at 16:48 | answer | added | Ben Miller | timeline score: 17 | |
| Jan 16, 2017 at 16:26 | answer | added | Kate Gregory | timeline score: 4 | |
| Jan 16, 2017 at 16:09 | history | asked | blackcornail | CC BY-SA 3.0 |