Hi Pooja I would save a percentage of my earnings - the percentage could be something as low as 5%. I would start with a low percentage so that I am motivated to save as I see my savings grow. Deposit these savings into a savings account so that you are not tempted to spend it. However, you mentioned a "financial mess" - then in that case, save a small percentage and use the balance to pay towards your high interest items such as credit cards. With credit cards, pay a little more than your minimum payment every month. Keep your credit card at home, so that you are not tempted to use it and decrease your balance outstanding and work towards bringing that balance down.
Hi Pooja, I feel we should try to save by making some assests for ourselves.Every year keep a target for ur savings.....Not upto it atleast we can come halfway so that some mt of saving will be done Regards,
Saving should not be the only reason to live.... Save for your old age and your illness.. Rest is not required.... I have seen a couple who saved and only saved to give agood future to their children and today children flew from the nest forever and they are still living in the same condition. Too old to wear trendy clothes, to tour around, to eat good food, what more to say..... Live life to the fullest and just keep a margin for your old age (food and illness). Thats more than enough.......
Hi Pooja, I M lalitha here.. I appreciate ur idea towards savings.. this is really very good thinking.. ur future will be good.. Generally, as i m financial consultant, i prefer to save min of 15% from our salary everymonth towards regular savings..which helps us to meet unexpected requirements as well as retirement benefits etc.. This regular investment comes under insurance, ulips etc but not into temporary investments like chits etc... here u need to pay for limited period, but u wl enjoy the benefits life long.. also it wl help u into incometax matters... All the best.. pls feel free for futher querries.. Bye. Lalitha.
i need advice. how to put an end to financial debts. before marraige myhusband had many credit cards and some loans which my parents and i didnt know till one mth before marraige ours is arranged marraige. again for marraige he took another big loan. and then he was without a job and thne my full salary was used to pay of loans after that my husband asked me to take loans to repay his till he got a job i strongly disagreed but after some mths when things were bad i had no option but to take another big loans. today my husband is abroad and earning to repay his loans and im paying 97%of my salary for loans now my inlaws are planning to take a big loan and very low rate of interest and pay off all outstanding loans from all differnt banks that have high rate of interests. i see our futureis stuck up in loans for atleast next 3 -4years. :bang:bang:bang:bang:bang:bangplease help. i didnt expect to be stuck in debts so badly in life i have no savings from my salary at all.
Re: How much ur Yearly Savings Rishi I always wanted to know one thing..what % of our earnings should be saved..because most of us either over do it or under do it..but not balance it...so what is the ideal % of earnings that have to be saved....? Ladies any thoughts on this??
Re: How much ur Yearly Savings Though may seem off topic...What sort of expenditures you wish to cut down to add on savings?
