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Quote from: LucioTan on July 22, 2016, 10:17:23 AM

One of the best saving strategies is to pay yourself first. What this means is that you designate a certain amount of your paycheque as your pay (how novel) and you pay that money to yourself before you pay your bills or anyone else. This amount can be $25, $100 or maybe 10% of your paycheque. It can be any amount that you decide. The important part is that you pay yourself first rather than last. Most people pay all of the bills first and then save anything that might be left over. For most people, that method of saving doesnt really work because nothing is left over to save.

If you pay yourself first, then money will get saved because paying yourself is now your first priority. The nice thing about this method is if your budget is a little tight, it forces you to make adjustments elsewhere and your savings continue to grow.

Paying yourself first also makes sense. Why are you going to work everyday anyway? To earn money for someone else? No way. You go to work to earn money for you and your family. Thats why you should pay yourself firstto make sure that your first priority is taken care of: you. It is not likely that anyone else is going to take care of you because they assume that you are taking care of yourself.

That is actually the best way to save money if someone is really serious about it, and if someone's salary is a little high or good enough he can save a good amount everytime he gets his salary, in that way he will not also have to do any adjustments because his salary is enough to cover everything.

If you want to be safe then saving money in fixed deposits is the best thing to do as you also get good interests from it which can be more valuable in future.

I think you are referring to savings in a bank. We should also consider that saving in a bank will only give us the security to safe keep our money but the interest would not suffice. It is still advisable that we need also to invest some from our savings to have a better future ahead of us.

That's true investment will help in giving us good profits in future which is not possible with savings but to have good balance I think one should go with both of them.

Correct, investment would be a big help on growing on your money rather than on saving it but its not bad to have savings but if youre a wise man get a little part of that savings and invest into something that you know that you can gain profit. So, if youre already gaining profit then you add it into savings just continue the process then youll succedd on the end.

Investment can help you achieve your dream and by doing it you should be ambitious enough as that is too risky and you need to prepare yourself if the other way around happens. If one can succeed in saving money, he can also be successful in investing.

There are types of investment that is not too risky. If you are not a type of person that is a risk taker, you can take those types of investment. That includes but not limited to bond funds and balanced funds. Those investments can have a good interest rates that can beat inflation but the risk is just low.

You can invest with bonds but you need a decent amount of money to do that. On the other hand, if you have a little amount of income and you are just saving for your future you should always consider also investing and probably not in bonds.

With a little amount of invest you don't need to put in a low risk investment as you earnings will also be lower, try a high risk investment like bitcoin which has a good potential to be huge.