I need help budgeting. I cannot save a dime. Can anyone help me with budgeting tips?

Answer 1

I suggest that before you make a budget (which obviously you need to do), you keep a small notebook with you for a few weeks. Write down every penny (cash, credit, debit, check) you spend in the notebook. This will help you build your budget and quickly show you where the leaks are.

Answer 2

If you have a checking account, only put in the checking account what you need for the following: Rent and utilities that's it!!!

Now how much do you have left? Start small. Transfer a little into savings, DON'T touch it, Forget about it.

With what is left, take it in cash. Put some in an envelope for Gas. Some for groceries. As hose are essentials. And feel free to spend the rest as you see fit. BUT if you run out before the next check, you have to make due with whatever food is in the house, pass on going out etc. No exceptions. Then as you get comfortable, up the savings maybe 5 bucks...and then do the same thing.

Answer 3

I'm with you. One of my OCD's is compulsive spending. My solution is every penny I spend is monitored by someone else. I get allowances, and by the way, I am 36. I have not written a check in 15 years and I pay for everything in plastic, unless I am given small cash amounts from my little missus or business partner. I found I was too spread out...several credit cards, few loans, bills here and there. Late fees and minimum payments, when it is all over, you've spent 400 on that 180 dollar stereo. Hope this helps.

Answer 4

I would suggest the Personal Budget System offered by the Financial Freedom Society.

Answer 5

Ms. Lick some Honey. We have the same problem. What I found useful and interesting is that I always have spare change. What I did was I bought a piggy bank. Whenever I arrive home, I put the coins inside the piggy. Before I knew it, I was addicted to making the piggy fat! Who'd a thunk it? The piggy was full in a matter of weeks.

Answer 6

Well you have to first cut back on unnecessary expenses. For instance bring lunch to work instead of buying it, make coffee at home, get videos at the library instead of renting, always buy clothes on sale, etc. If you can start trimming off the top you will be amazed at how much you can save. The trick is not to spend the money you do save!!

Answer 7

avail a systematic investment plan with electronic clearing service they remove money from your account on a particular day and don't carry more money than you may need this prevents peole from spending you may folow the budget allocation procedure of writing allnecessary expenditures and allessential expenditures on a side of a sheet and all other expenses and sub total it this would help to determine where cash is going and what expenses can be cut down

Answer 8

Sit down and determine exactly how much money you take home per month. Then determine what bills MUST be paid each month and how much. Subtract the bills from your income. Anything left should be spent on reducing debt, first on your highest interest rate cards/loans. If you have no debt, put it in a money market account/savings/whatever.

Answer 9

i would say go to your nearest book store (new or used) and look for the everything budgeting books or personal fiances for dummies. Also I would say invest MS Money or Quicken Books. These programs link directly to saving and checking accounts. you may spend money on these programs, but they will help get your fiances in order int he long run.

Answer 10

Read the book "All Your Worth" by Elizabeth Warren.