Dear my friends here. i guess there are many people are working at company or other place and were paid salaries once a month.could you share with us how to distribute your salaries. for me, my salary is not more and were paid once a month, i hope i can be set part to investment, due to this part is little and i have no any knowledge of how to investment of this. so i always save money months by months. when it is reach to a integral,nearly RMB5000, RMB10000, then put it in the bank and we were not be allow for one year. i feel that way is not wisedom, but i don't know how is the best.
could you share you experience or you advice with me.good luck and have a nice day!
[question posted by haiershen]
responses and comments:
I do not know anything at all when it comes to investing my money to make sure to get a return from it. I would rather save my money in a savings account in my bank. It does draw a little bit of interest. [stephcjh]
A combination of savings and investments is ideal and that is what I do. I have a goal of saving 6 months of expenses in the bank but I only have 3 months right now. In addition to my savings I have investments. This way, I have some money working for me (although not as well as before!) and I have some money that I can access immediately in case I truly need it. I do not have a job, there are very few jobs here, but I put every penny I earn on the internet into my savings account and pretend that it doesn't exist. [dragon54u]
Well I dont know if I am wise enough to offer you andy advice as I havent been saving much because right now my bills exceed my earnings .I however think that out of your cheque ,1/10th of that shoudl go to straight saving .This can be held in an ordinary accouont and you should have access to it in the case of emergencies.The next 1/10 th should go toward investment divided equally into risky but high earning Instruments (like stocks ,mutual funds etc) and money market instruments like bonds. [ronnyb]
I also tend to save money but it's better to have an investment and make it grow like engaging into business. I am planning to have an internet cafe on my own but I don't have enough money for it yet . maybe someday if i do have enough money, then i would plan for it. [xannebull]
Hi Shen, This is really a good discussion and would know the basic things about the investments, otherwise the life going to be very dangerous, when you have received your salary from the jobs or benefits from your business, then you have to allot 25 percentage for the necessary expenses like medical, foods, rent of the house, etc., and another 25 percentage we need to save in the saving account in the bank for the emergency purpose, and then another 25 percentage we should allocated for the kids education, and finally remaining 25 percentage would be save for our future life. This should be considered as a best plan for the life, but unfortunately very difficult to follows in the real life. Have a nice day.surrender [Binthu]
happy Hi Haiershen. With the economy and the stock market still unstable here in the US, I opt for a high-yield savings account or insured bonds. I won't invest again until the market proves itself stable. Karen [PeacefulWmn9]
hi haiershen, regarding money saving,i am saving and investing at a time,i have opted for SIP ,systematic investment plan,in that we will select a plan,company and investment can be made monthly,you start the investment with approximately 25 dollars monthly in some mutual funds,when the share market is growing our funds also growing,have anice day [yugasini]
My way of doing saving and investment goes this way, I usually keeps enough money in my savings account so that if I becomes jobless, I can manage for at least 3-5 months without a paycheck. Then comes the next part of investing. I do prefer investing in stocks and gold coins. There is relation between stocks and gold, if the stock market is going down then the gold price goes up. If you are very much afraid of taking so much risk, my best bet would be gold as for the past 4000 years gold has been in demand and since all the gold mines are going out of stock thus the supply of gold will go down but the demand will remain same or may go up so it is for sure the gold price may increase in long term and will give a decent return on your investment. Stocks are also good when compared to other assets with regard to the returns but it is more volatile and if wrong choice is made or bad time comes up you may lose much of your hard earned money. [vsinoj00]
Oh,actually you can often store,is very good.of course ,maybe there is a better way,I think,in storage at the same time, there is a certain proportion of investment,such as buying stocks, long-time holder of stock,like Buffett did ,add up,appreciation,maximum Harvest.Wish you reach your goals! [dong88]
I think i should take a part of my salay to investment, the rest of salary used to save in the bank.The profit in the bank is very low,if we spend some money in investmenting we maybe get a high return.But now i have not enough money to investment because i merely work for four months. [shahalashamo]
I cannot advise you what to do in your country. When I was working (I'm now retired) I had a percentage of my salary withheld and invested for me. When I retired I requested that my money be invested in bonds, which was safer than the stock market. We bank at a credit union, which I consider safer than a bank. Each month that we have no unusual expenses we put some money into a savings account. When we accumulate enough in the savings, we buy certificates of deposit with the money. Since the money in a CD will not be available to us until it matures, we are careful to leave some money in the savings account for unexpected emergencies. This is what I have been able to do in this country. I do not know how conditions are in your country. [bellis716]
Well, alot depends on how much of a risk taker are u.. haha =D Savings will always be the safest when it comes to keeping your money intact in the long run, and without even losing anything.. BUt when it comes to investments, u must be prepared to lose some, before u will start to earn.. It takes courage and patience, for investments are never stable.. IF u are not prepared for such risks, it will be wiser to leave your money in the bank ^_^ [kun2349]
In my opinion, it is better to save first before investing. If you're able to save more, then you'll know that it is the best time to invest already. But you have to make sure there's still some more money where it came from. Investing is taking risk as well, so beware and be safe, try to invest money when you know you still have some of them left in your bank accounts. Enjoy. [hapsicordable1]
I put 70% of my momeny save in the bank account, and put the left 30% buy some stock or funds.I buy funds month by month and not buy so much,so the risk is not so high.Though the return is not so much, but is is a little higher than the interest in the bank. [acer5540]
There are a lot of investment options available these days such as trading and buying stocks, mutual funds etc. You should talk to an investment advice, a reliable one. Seek for good advice from people in the investment line of buisiness [lindiebiz]
U are very smart to be saving money. All young people should think more about this . U never know when something could happen to keep u off from work & u need to have a nest egg stuck back. I always just put what little i had in savings at first because u don't need to have it in anything where u have to pay a penalty to get it out. I am not a gambler & didn't have any i wanted to lose so i didn't do investments. I think after u get enough saved for an emergency , ira's are good, cd's are good but Noone is paying any good interests now anyway. Good luck. [ANTIQUELADY]
I think it is advisable to do both. I mean when you have the cash you should save a part of it and the rest of it should be invested somewhere. The cash saved up is sort of a backup funds in case of emergencies or when you need to have some cash that you could spend when it is absolutely necessary. The rest should be invested so that not all of the cash that you have remains stagnant in a bank or a lockbox. The money being invested gets some kind of profit. This profit should also be divided into savings and investment. So you'll be adding to the cash that you saved and you also add to the funds that you're going to invest. That can be a part of a fallback fund just in case the investment suffered losses instead of having gains. That is just what I think though.^_^ [bjcyrix]
At this point in our lives, my husband and I are not investing money, but rather saving it in our regular checking account. We don't have a lot of money, so what we do have goes to first making sure that there is food for our children and for ourselves and then to getting the bills paid. Then we have a small amount of money that is for our needs that are beyond the basic needs. Finally, we keep some put back in case we come across an emergency. Our hope is that eventually we will be able to get ahead where we will be able to start keeping money back as an investment so that we will be able to truly get ahead in life. [dorannmwin]
Hi, haiershen. I would rather save because I know for sure that my money will be kept safe. And if I invest my money, I want to be sure that I am going to get something back. I want to invest, but I don't want to lose out either. I would like to do both. [cream97]
I would save with my personal and private bank. And I would invest in the stock exchange market. I would also do HYVP... [cream97]