Can anyone give me tips on how to save money?

Answer 1

Yes. Develop a budget. You know how much money you earn. Never try to spend more than you earn. If you don't have it wait until you do have it. Here is a simple example:

Lets say you earn $500 weekly:

You have current bills of Rent 200
Utilities 100
Food 100
Total 400
Savings 50
Spending money 50

This is a simple budget, which anyone can use. Stay away from credit cards. The only ones who do well and get rich off them are the banks and lending institutions.

Answer 2

I'll tell you what I tell my personal finance students. Put together a budget showing from where and how much money you have coming in, and what you spend it on. Then go through this list and see what you can cut down on or cut out.

For example, if you buy a latte every day, skip one or buy a smaller cup. If you spend $100 every weekend drinking and partying, stay home one time or go to the movies instead of drinking.

KEY is that little changes can often add-up to a lot in the end.

Answer 3

Try to save a least $2-5 dollars a day. Try to set it aside in your bank account and make a commitment not to touch it. I you put away 5 dollars a day is $25 a week, about $100 a month, $1200 a year.

Answer 4

Kick bad spending habits or any bad addictions. Seperate your change money when walking anywhere outside your home (smaller bills in one pocket, larger bills in your shoe or something like that). Keep only a few credit cards like 3 or 4 max so you're not swamped with so many bills and it's not as easy to fall into debt. Conserve electricity in your house. Things you usually pay someone else to do find time to do yourself or learn how to do it yourself (if you have means to). If you're dating be creative so your date finds it fun and you find it inexpensive. And sell old things that you never use anymore that only take up room.

Answer 5

Honor God with what He gives you. Learn to be content with what you have. Discipline yourself in spending money.

Plan your spending with a budget.
List down the different areas of expenditure that you incur each month, like, tithe, food, clothes, toiletries, travel, entertainment, taxes, insurance, education, medicine, loans, savings/investments, emergencies, etc.
Classify them according to priority. If your income is limited, what should get preference? Essentials and non essentials?
Decide what percentage of your income you want to spent on each of these areas.
Divide your income accordingly, and spend only what is set apart for each area. Never take from what is kept for food and spend it on clothes, and so on. Be strict about this.
If you discipline yourself in this, you will gradually begin to save.

Answer 6

List out income and expense category items. Budget and adhere to it. On the day when you are going to receive your salary, 10% of the previous month's salary shall in a savings account.
Ramachandran V.

Answer 7

first of all u need to have self control and strong will power to give up some comfort...coz money is something which keeps bouncing in ur pocket n usually finds its way out thru it very easily!

u may compramise for quantity but try not to loose the quality!try it..it really works!
all the best to u!

Answer 8

I have a big coffee mug sitting in my laundry any money I find goes in there. I told my husband if it goes in the mug it stays there.(he has started checking pockets before clothes in hamper). this is just one way i save........oh and we drink store brand soda now. If you try several you can find one you like for sometimes $1.50-$2.00 cheeper a 12 pack.

Answer 9

hey u can go for so many things- mutual funds, government bonds, stocks of reputed comapneis, bank deposits nd so on..

u can also earn some extra money in ur free time everyday nd invest it properly,

many such more ideas available at-

http://www.pcworkathome.net

Answer 10

clearly seperate wants and needs. Do you really need some expenses like handphone, cabletv, internet access at your house.
basically, keep it at your pocket.