What is the best way to safe money?

Question

When everything you can think about is going out to eat with ur friends or those new shoes or cloths....huh..help????

Answer 1

The best way to save money is to not spend it.

Answer 2

It sounds like you spend a lot of money that you don't have to. Figure out how much you make and how much you NEED to spend and then add in a reasonable amount of fun spending money. Then have a financial advisor, or an adult if you are under 18, set up an automatic widthdrawl of a certain amount of money that you can really afford to live without. I would suggest 3 month CD's right now since the money is not really that hard to get at, the intrest rate is better than a savings account, and investing in money is a safer bet right now than stocks or bonds. Working with a financial advisor is a good deal because they can help you realistically figure out your budget and how much you can save. If you get sick of it or want to to something different, you can take your money out, go to a different advisor company, etc. Of course your money is not as available as if you were to stick it under your matress, but putting it in 3 month CD's will keep you from spending it on a pair of shoes you don't need. I have actually done this and it worked great for me.

Answer 3

Don't spend it-find other ways to entertain yourself. Eat at home and do other things with friends. Get a dvd, instead of going out to the movies. You know you don't really NEED those shoes or clothes, so if you buy them then you don't really want to save. If there is something special that you want to save it for, then use that as a motivation. But stop THINKING that EVERYTHING requires money, because most people believe they NEED when it is just a WANT and the choice is YOURS!

Answer 4

It's been some years since I have done it but if you have a Credit Union it works great.

I use to get a Pay Raise each year. The first check I got with the increase I went to my Credit Union and starterd a Savings Account with the increase I received plus an extra $10. Then after I got the account information I went to my payroll clerk and had her set up a direct deposit for the same amount taken from my payroll check and sent to the Credit Union each payday.

I saved over $1,600 the very first year.

Saving is easy when you don't get the money in your hand to easily spend. If it's deducted from your check and sent directly to a savings account you never know it's gone.

Answer 5

To save money use only cash, no credit cards. It hurts a lot more to see your cash being thrown away on something you really don't need. In stead of going out to eat invite friends over and start a group doing the same each week, make it pot luck and every one gets involved and no one has all the work or expense. Besides it's fun to entertain at home especially with games, cards or a movie night. Be creative! Then when you do shop... only buy things on sale. there are bargains out there if you look around. Make it a game of how much you can save instead of how much you can spend.

Answer 6

May of the individuals who has answered the questions are basically correct but I like to throw another suggestion...You asked a question relating to 3 things "Eating out", "Buying New Shoes", "Buying New Clothes" My suggestion is without having to sacrifice money to the bank or the suggestions made by previous answerees, why not have a pot luck or BBQ (each people bring something) get together? and buy your clothing and shoes at Thrift shops or salvation army, you be surprised what people donate.

Answer 7

ALWAYS PAY YOURSELF FIRST AND FORGET IT! Each paycheck have an account set up to automatically transfer money to an account that earns high interest or will pay off in the future(savings bonds, for ex. buy 1 now for $25 in a few years $50), buy at least 3-4 bonds per month($100 total) and maybe another $100 in a savings/money market account; That's 50 bucks per check that you'd probably pi$$ away on food or gas;

Answer 8

The best way 2 save money is 2 NOT SPEND IT! hello dont spend it it will help leave it at home if u are going with friends only take bout 5 dollars 2 eat or if an emegensy happens DONT SPEND ALL YOUR MONEY! That simple

Answer 9

1. Saving Accounts, don't touch them unless emergency arise or if you've got a big amount in the bank.

2. Don't shop every weekend or two, don
t shop so often and you will save money

3. Budget: Keep up with what you buy and have like a checking or balance book.

4. Don't buy alot of expensive meals, save them for special occasions and stuff like that.

5. Punish yourself when you spend too much money

Answer 10

Open up a savings account and set aside 10% of your paycheck each pay day to put in your savings. Budget your money like you are getting paid 10% less than what you really are, and you won't miss the money at all. You just have to use good judgement, and self controll to not touch that money once it's in your savings account. That's what I do, and it works very well.

If you don't have a job yet, set aside 10% of whatever money you get, and you will be just fine. It's better to learn how to manage your money now than it is to learn later in life after you've gotten in debt.

Answer 11

First ask your family what life was like before VCR, DVD, cable etc. We had drive in threatre but we did just stay home and watch TV on Saturday night. We did not go every night of the week. Monday - Thursday was work, do home stuff and wait till Friday night. Friday night and Saturday was fun time. Sunday was the day you visited relatives or have family gatherings because you were broke till next Friday.