whats the best way to save money?

Answer 1

by managing your money and not spending it all. learn to buy things that you need at that time and not buying things on impulse.

this site shows how you can save money in all different kinds of areas. i hope this is helpful to you

Answer 2

Simply put, there are two ways to save money.

1) Increase your earnings.
2) Decrease your spending.

Usually, it is easier to control the latter option. You should always remember to pay yourself first! Having some amount of your check removed and put into a 401(k)/IRA etc is a good start, but pay yourself first. Then pay your necessary bills. See what's left.

Do not, under any circumstances carry debt on credit cards. If you can't pay for it with the money you have, don't buy it. Credit card companies have all sorts of ways to get you hooked on spending money that you don't have. 0% interest, teaser rates, cashback bonuses etc are all examples of these hooks.

Know where your money is going. Keep a financial diary. Account for every dollar. Figure out where you can cut back if you need to.

Hope this helps !

Andy
www.my2centsonline.com

Answer 3

The best way to save money for someone starting out is to invest in an index tracker on a monthly basis. By doing this you are using the principle of paying yourself first. You are making the best use of dollar/pound cost averaging (you buy more shares when the price is low and less when the price is high) and spreading your risk. In addition , you are compounding because your dividends are re-invested.

As the person said before separate needs from wants. Save the money you would have spent on your wants and use it to buy assets. The assets will generate income that you can spend on future wants.

Answer 4

I've found that if u have the money taken out of ur chk automatically before u receive ur chk and have it sent to a bank that is kind of a hassle to get to, to withdraw money and not give urself the option of having a ATM card works out.

Or u can have the IRS take out an extra protion when they take out taxes and u will receive it all back during tax time.

or u can put aside say $20 +/- every time u get paid from ur job
u know put aside ur bill money and then pay urself
the key is to start small and watch it grow into something large. Just don't force it and try and remain patient because believe me I know it's difficult to not spend especially when it's on things that u think just have to bought or paid for.

Answer 5

First.....separate your needs from your wants. You may really want something but do you really need it. I want a new car but I have a perfectly good car that has a lot of wear left in it.

Second....have a certain amount of your paycheck auto deposited into a savings account. I have found if I don't have it in my checking account I won't spend it. I have set up a special account and place $50 a week into it for a future (as yet undetermined) purchase.....could be a vacation or a diamond ring for my wife.

Third....pay off your credit cards and then cut them up (save one to make emergency purchases....and that doesn't mean dinner at an expensive restaurant.)

Answer 6

Stop spending. Never take on debt - especially credit cards. Be ruthless with yourself! Save by direct debit to an account with 100 day notice period, then you can't get at it so easily!

Answer 7

1st get 2 or 3 small jobs and put all the money u made in a shoe box and push yourself to not spend any of it at all

Answer 8

Don't save, its better to die spending a million than saving a million ;)
x

But if u want to save, as first answer said have the amount u want to save eveny week automatically taken out b4 u can get to it ;)

Answer 9

Always get paid through the Bank of by cheque so that when you want to withdraw you just take out what you need at that particular time and leave the rest in your bank.

Answer 10

Speak to a financial adviser. He/she will make a note of your financial & personal circumstances & work out the best options for you. It's no good asking us what is best because the best option for me could be the wrong one for you. Things lke that have to be based on the persons individual needs.