Mister C what currency please?

LadyT:

Mister C what currency please?

I print in £££'s so if you need naira, you will have to sort out exchange yourself!

platinumnk:

~Waves~ Help me !!!

How much do you need?

Say bye bye to credit crunch!!

10,000 please I need a boost

MrCrackles:

How much do you need?

Say bye bye to credit crunch!!

bro, all i need is a $750,000,000 BAILOUT! 

@topic
i'm more inclined towards making $1 out of 15 cents (investing) ,but since the question is bout "savings strategy" , i wont go into that. i dont know where u live, but one thing i've realised is; as far as you have instant access to savings, you'll dig into it. so what i do is send a certain amount of money every 2 weeks to my account in naija. why? i cant reach it when i want, so it stacks up.

and while this may not seem like a profound logic, its the best you'll get 

no special strategy, i spend as when needed if available, if not, all actions suspended till cash comes.

Like the saying goes, If u fail to plan, u are plan to fail!! We should all realise that this thingy we are faced with , i mean the global meltdown is real, abi wetin i for tok, everyone is tokin bout it, So basically if u were not saving before or had no ideas or outlets to get some extra income then u really need to do sumtin about it. Alwaz have a backup plan or savings. Need not say much cuz some of us here have really hit the nail on the head, so, the ball is each and every ones court!!

@Poster

What saving strategy?? I ain't got none, i spend on what's good!! Life is too short to be wearing iron clothes. If i have extra, i might put it in the bank for another day or two till i see what's good.

@poster,
I just cut back on my expenses and I started a monthly saving scheme with GT Assurance.

i really like this saving sstrategy topic, well let be sincere with each other, not everyone have a good saving culture. Iwork with an insurance firm and we have a package that is called individaual savings and protection plan, i have close to 50client, and i know how i run after them to pay themself every month, but for those that are honest with it, they have really saved something and i still encourage them to continueC cause it is this savings and investment they still fall back at, no matter what we earn now it not for life is for a matter of time,i can introduce the savings scheme to you, it will help u honestly, it is helping a lot of us. if you are intrested send me ur email addy, i will send what u stand to benefit on ur savings, send u all the details, u can think about it, then i can tell u how to go about it, it transparent, it flexible. it all about wealth creation and protection. let save today so as to cement the future

Deep Soul:

I'll soon stop using phones because of the amount of money I give to MTN in d name of buyin recharge cards

Then, you have to spend more on transport in order to deliver your message.

labuke:

i really like this saving sstrategy topic, well let be sincere with each other, not everyone have a good saving culture. Iwork with an insurance firm and we have a package that is called individaual savings and protection plan, i have close to 50client, and i know how i run after them to pay themself every month, but for those that are honest with it, they have really saved something and i still encourage them to continueC cause it is this savings and investment they still fall back at, no matter what we earn now it not for life is for a matter of time,i can introduce the savings scheme to you, it will help u honestly, it is helping a lot of us. if you are intrested send me ur email addy, i will send what u stand to benefit on ur savings, send u all the details, u can think about it, then i can tell u how to go about it, it transparent, it flexible. it all about wealth creation and protection. let save today so as to cement the future

I would appreciate you post it here for everyone to benefit.

Sweet T:

@Poster

What saving strategy?? I ain't got none, i spend on what's good!! Life is too short to be wearing iron clothes. If i have extra, i might put it in the bank for another day or two till i see what's good.

That's some risky life u're leaving. Guess you don't have major responsibilities.
At least, if not for rainy days, you could use it to start up a small biz.

I'll soon stop using phones because of the amount of money I give to MTN in d name of buyin recharge cards

True talk!

Saving has been my culture before now, the credit crunch has just encouraged me to save the more.

Let's learn from the ants like the bible admonished.

read what warren buffet had to say concerning the economic crunch,

@ehie007

Thanks alot for that post.

You have just nailed it on the head for me. The one I like most is:

Don't save what is left after spending; spend what is left after saving. Gbam!

This is probably one of the best threads I've seen on NL. I've actually had to copy out some of the suggestions made here for further deliberations and careful implementation.

I do not have a good saving habit at allllll. I recognise this and have struggled to change, with very little success.

A recommendation on this thread that reverberates is the strategy of saving into an inaccessible account, this I tried late last year, I got up to about 450K (naira), then I found out I could EASILY do fund transfer from the account via the net and VIOLA, used everything within 5 weeks!

Now I've started again, in this new account, 20% of my salary goes in. No ATM card, No cheque book, No internet banking.
I wonder how far I can go

gReenmAn:

This is probably one of the best threads I've seen on NL. I've actually had to copy out some of the suggestions made here for further deliberations and careful implementation.

I do not have a good saving habit at allllll. I recognise this and have struggled to change, with very little success.

A recommendation on this thread that reverberates is the strategy of saving into an inaccessible account, this I tried late last year, I got up to about 450K (naira), then I found out I could EASILY do fund transfer from the account via the net and VIOLA, used everything within 5 weeks!

Now I've started again, in this new account, 20% of my salary goes in. No ATM card, No cheque book, No internet banking.
I wonder how far I can go

the key word here should be DISCIPLINE.

even if you like, put the money in the desert and throw the key away, fact remains you know where the money is and n what direction you threw the key, and since you do, one day, you'll retrace your steps and look for the key if you are nt disciplined.

the success factor to saving substantially is DISCIPLINE and CONSISTENCY. try this:
1. draw up a budget
2. set an amount u want to save
3. proritise and set apart a certain amount recurrent expenses (tithe, transportation, feeding, call credit, toiletries)
4. list out the essentials to buy and cross out as you buy them so u dont duplicate, the secret is in buying these things at the beginning of the month and for the month). for those in Lagos, try shoprite at Palms shopping mall, you'll get toiletries and stuff at reasonably cheap prices, but you have to walk through that mall with your eyes half closed, so you dont see the other shops
4. after doing 1 to 4, you'll realise you still have a lot left. the good news is that balance is for flenjuring/enjoing

the secret to enjoying yourself is in setting apart an amount for miscellaneous expenses, that way you wont think of the savings as a burden

lemme give u an illustration, if i earn 150,000 naira:
20,000 is for tithes and other church activities
60,000 is to be saved monthly, so i just move the balance  of 70k online to my saving account from current, that way, i can withdraw from saving account without being charged COT all the time ( it really helps)
then recurrent expenses:
10,000 for calls (postpaid line), 15,000 for fuel/transportation
10,000 for feeding in the office ( i stay with a family, so my weekend meals are on the house, lol)
10,000 for toiletries
10,000 for miscellaneous recurrent expenses, such as hair, pedicure and nails(my acrylic lasts a month, cos i make sure my hands arent wet for a prolonged period and as for my hair, i alternate between braiding and fixing moderate lasting styles with dark colours. that way, it wont look like i've had the hair on forever)

guess what, i still have 15,000naira free kish to spend impulsively on things like aso ebi, without accounting for it and it sure helps to keep you sane.

the more you save on your free 15k every month, the more you can spend in the next month. its called short term saving for short term goals.

i hope this helps

ppleget a personal view.so i thing the only way we can escape this situation is to unit our economics every countries in africa must participate.and each african should understand the importance of to struggle together.

african unit we say

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@ spicy007

Your analysis is so clear and in depth it makes a lot of sense.

I'll add it to my repertoire. Thanx.

@efosanice, whats your bank interest rate like for 30days Fixed deposit for 1M and above