2 answers
Audrie
Student
Yuma, Arizona
1
Question
Asked
1061 views
Hey y’all?
How can I start saving money on stuff even though I spend money a lot
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2 answers
Rebecca Tang
Banking
2398
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. It is a good time to learn financial planning.
Firstly, you need to understand 'What you need' and 'What you want'.
What you need - This is vital expenses, e.g. school fees, transport, meals, etc.
What you want - This is nice to have expenses, e.g. Trendy Sneakers, clothes, etc. Jewelry, etc.
You can divide your income into 3 parts:
1. Expenses on What you need
2. Savings
3. Expenses on What you want / Investment
Hope this helps! Good Luck!
May Almighty God bless you!
Firstly, you need to understand 'What you need' and 'What you want'.
What you need - This is vital expenses, e.g. school fees, transport, meals, etc.
What you want - This is nice to have expenses, e.g. Trendy Sneakers, clothes, etc. Jewelry, etc.
You can divide your income into 3 parts:
1. Expenses on What you need
2. Savings
3. Expenses on What you want / Investment
Hope this helps! Good Luck!
May Almighty God bless you!
Ashten Walker
Retail Leadership
2
Answers
Updated
Ashten’s Answer
Creating a budget is very important. Start with your net income and subtract the expenses you must pay, like your phone bill, car costs, insurance, rent, gas, and groceries. What is left over? Decide what you need and what you want. For instance, compare how much you spend on dining out versus cooking at home. Look for expenses you can cut down. After covering your needs, see how much you can spend on yourself or save. You can lower costs by finding a cheaper phone plan or shopping at a less expensive grocery store. Begin with these small changes.