someone know a good way to save money and not just spend it when i just get it?

Answer 1

1) put yourself on a budget.

Write down everything (and I mean EVERYTHING) that you plan on spending money on that month. If the numbers don't add up, you have to cut something out.

2) use your ATM card ONLY ONCE on payday.

3) Cut up your credit cards.
You can still pay down a credit card even if it's been cut up.

4) Write checks for your bills. Pay cash for everything else.

5) This one may seem odd, but I take the cash I get on payday ($300 on the 15th and 31st) and put it in the freezer. Every morning, I take out a daily allowance (a $20 bill). This covers meals, gasoline, and anything else I plan on buying that day. If it's not yet in my wallet, I don't spend it.

6) Shop for bargains. Red beans and rice is a nice meal, and you can feed a family of four with 2 pounds of beans and a pound of rice ($2.50)

Answer 2

A savings account is usually not helpful if you will take the money out. A saving account with penalties can be worse if you are the type of person who will pay the penalties to get money out.

You can try having money withdrawn before you get your check. Some companies have pre-tax flex accounts for this purpose.

Also, you can buy CDs or Bonds so the money is technically "not there" and it's harder to get at for awhile.

Open a bank account at a small bank across town. It makes it much harder to get money when you have to make a special trip to get it.

Cut up your debit card.

Budget a certain about of "play" money for the week and stick with it.

Keep a list of EVERYTHING you buy for two weeks and see where you can cut spending. Some "must haves" are really just luxuries (e.g. lunch out everyday, splurge spending, late fees for movie returns, etc.).

Pay off your credit cards and don't use them. If you do, try to pay more than the minimum balance. Interest is just lost money.

Two extra payments per year on a mortgage shaves off about 10 years of payments. When buying a house, try to put enough down to not have PMI.

An eye opener is the Social Security situation. Write to ask for your expected payout at retirement. Most of us are not going to have any money from Social Security so it's a wake up call to save as much as you can now.

Good luck.

Answer 3

Open 2 accounts at the same bank. Then have your checks direct deposited. (If you don't have direct deposit, then just do it). Before you spend a single penny, put 10% in your savings--DO NOT TOUCH IT! Then the other part you can spend on what you need. I like having the accounts at the same bank because I have automatic transfers taken out into savings every single paycheck. And now I am paying to remodel my house from savings. It's fantastic.

Answer 4

well one good way to save some money is one if u can get direct diposit..into a savings account that way u only take out a certain amount and don't touch the rest or if u don't want to do that...then have a specific amount that u tuck away every week and put in a saving accoount that your Not alllowed to touch(pretend the moneys not even there)..u are not allowed to mess with it...or get it out(unless its to spend it on whatever u want to save up for)..once u get a good amount in a saving account then u could go to a cd(which has to stay in for a certain amount of time and collects higher interest)usually u have to have at least $500 dollars though to start one of those.Hope i helped some..

Answer 5

Open a Sharebuilder account. Deposit a small amount daily via electronic transfer- As small as $1. If you are disciplined enough not to withdraw it, you can invest in the stock market once you have $25 saved, through dollar cost averaging.

I learned to save money this way- Takes time and discipline though...

Answer 6

If your company has an automatic deduction plan, then let them take part of your earnings directly out of your check in order to purchase bonds, invest in a profit sharing, etc. If not, then see if your bank can take automatic deductions from your account to put into savings. Then throw away your savings account number so you won't touch it! (And don't cheat and open your monthly savings account statements to get the number! Promise to wait at least 5 years.)

Answer 7

I got some cute little banks and every night I dump my change into them. About one a year of so I empty them and buy something I really want or put the $ in an interest bearing account. It is amazing how this adds up over time.

Answer 8

As soon as you get money, immediately take half of it and deposit it into a savings account. Only spend the rest.

Answer 9

Before buying a product, think twice whether you actually need it or not and whether it is need or a fancy. whether you could survive without it or not and think what will happen to you if you do not buy it. As suggested by many, deposit the money in a bank, access to the bank account must not be flexible.

Aravaazhi

Answer 10

Open a savings account...or a CD is even better. Get one with limitations that you can't touch the money until a certain date.