Comments on: What Happens When You Think of Saving Money as Making Money

By: wyche128

wyche128 — Tue, 15 Jul 2008 20:44:46 +0000

If you spend money and save because you bought it on sale, you should take the savings from that deal and store it away in a savings account. That in essence will be making money

By: Link roundup: Rat snake edition | Mighty Bargain Hunter

Link roundup: Rat snake edition | Mighty Bargain Hunter — Sat, 12 Jul 2008 03:58:51 +0000

[...] Money Ning wonders what would happen if you thought about saving money as making money. [...]

By: magnesium

magnesium — Thu, 10 Jul 2008 08:27:03 +0000

I agree with the opinion that saving money means not making it. I think money exist for spending but not for saving

By: marci

marci — Wed, 09 Jul 2008 15:39:22 +0000

The only way I can see that ’saving money’ is ‘making money’ is if it is truly saved, ie, tucked away, and making me interest or dividends, etc.

Otherwise, it is just spending less money than one would have spent. And I don’t think that spending less is really the same. You can call it stretching your money further…but you’re still spending.

Otherwise, it could be said that ‘not making money’ is ’saving money’ …meaning, as I chose to not make much because I don’t want to go up a tax bracket and give so much of it away in taxes, you can’t really say I’m saving that money that I’m not paying in taxes, because I’m grossing so much less money to do it. (Actually, I just don’t want to give up an extra day a week only for money that I don’t really need to make)

By: Aaron Stroud

Aaron Stroud — Wed, 09 Jul 2008 05:36:00 +0000

Nicole beat me to my point. Saving $400 is worth far more than $400 of income. Some people have to earn a couple hundred extra just to pay their taxes.

When I started learning about investing, I use to imagine investing money so I could enjoy the dividends now. Eventually I realized that would just raise my taxes and interfere with compounding interest.

Now I think about saving money in terms of goals, instead of interest payments or dividends. Before spending money, I decide if this is the absolute best way I can spend the money to maximize the benefits to me.

Sometimes buying the item is worth it. Other times I decide I’d rather have more money for retirement investments, paying off the house early, or saving towards a specific big item purchase.

By: Sam

Sam — Wed, 09 Jul 2008 04:04:14 +0000

Well I think of saving money as making money simply because money I saved, I reinvest right-away. Right now, money I saved from my salary is what I use to buy domain and hosting to make blogs–> which hopefully would give me a nice passive income in the future..for my family..well I hope this will be successful.

Sam

By: Joseph @ DebitversusCredit.com

Joseph @ DebitversusCredit.com — Tue, 08 Jul 2008 18:53:04 +0000

My wife follows this theory strongly. She is always talking about how she saved so much money when she purchased [insert item here] on sale. On the one hand I’m glad that she didn’t spend full price for it, but on the other hand I think that it’s silly to assume that because you spent less money you saved money. She still spent money. I understand the theory and it could definitely be argued day and night but I personally don’t think of any type of spending as saving.

By: Nicole

Nicole — Tue, 08 Jul 2008 18:28:43 +0000

In the old days we used to call it “a penny saved is a penny earned.” But in fact, it’s more than a penny earned when you consider income tax. You have to earn more than $400 pre-tax to take home $400.