Post
Topic
Board Economics
Re: Best way to manage money?
by
HarryKPeters
on 25/09/2016, 21:47:29 UTC
I think that you should save your money, cutting your spendings by only buying what you need. I think that's a better way to manage your money.

In theory this sounds like a very good idea. But in reality it is very difficult to save a significant amount of money, unless you are having a very well paid job, in addition to a few other revenue sources. Also, saving money is quite risky in unstable countries such as Venezuela and Ukraine. You will never know when your national currency is going to get devalued.

Well, you can save money and then change it into USD or EUR or any other stable currency you like. This way it's not as risky anymore. Another option is buying silver. You can't spend anymore unless you really need it (crisis).

Getting your money managed properly needs not a lot of things. The number 1 priority is to get a grip on your expenses and deduct it form your income. What's left can be sent to a savings account or a investment accounts, and yes metal these has been proven a solid investment.