2006-07-20 15:31:17 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
You should take one month and conduct an audit of your spending.
Get a notebook and EVERY DAY write down everything and I mean every thing you spend money on. Every penny of it.
At the end of the month go back through it and see where you spent your money.
Organize it by category like fast food, gas, groceries, etc.
Then scrutinize what you bought.
Did you really need a new pair of sunglasses? 22 trips to Starbucks. Can just 15 suffice?
You really can't begin honestly saving money until you honestly know what you are spending it on in the first place.
Set priorities and for some items, set limits on how much you will spend.
Then, start taking the extra money you are not spending and put it in a place that is hard for you to easily get to. Find a bank across town that doesn't have any branches by you and set up a direct deposit account from your employer with a small amount going there each check.
If that small amount.....I'm talking $10 per check at first....really starts working out and you find you aren't spending it....then up it to $20 or $50 per check.
If you get good at it....you can up it until it starts to hurt a little bit.....maybe like $100 per check or something like that.
If you can have this disclipline for 6-8 months or so.....you'd be amazed at how much you can save.
I did this very thing between college and grad school and I saved over $4000 in just three months time. It helped me pay for my Master's Degree.
2006-07-20 16:42:03 · answer #1 · answered by markmywordz 5 · 0⤊ 0⤋
I try to put my money in the bank as soon as possible. Another thing that is good for putting money back for say Christmas is to open a Christmas Account at the bank. You don't have as much access to it as a normal account. Even if your not saving for Christmas, you could still open the account to help get u used to putting back money you can't easily access. For some of us easy access is a bad thing.
2006-07-20 22:37:22 · answer #2 · answered by clover31776 2 · 0⤊ 0⤋
Just put it into a savings account that you do not have easy access to. That way you have to actually go out of your way to get the money out.
2006-07-20 22:34:45 · answer #3 · answered by dahublaz 4 · 0⤊ 0⤋
Make a budget which includes putting aside a set amount for savings.
2006-07-20 22:37:47 · answer #4 · answered by ANGEL 7 · 0⤊ 0⤋
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2006-07-20 22:35:57 · answer #5 · answered by matt i 1 · 1⤊ 0⤋
i will leave it in the bank, at the end of the year I can see the money is growing...
Do not over spend your money, thats the most important.
2006-07-23 07:39:22 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Discipline.
Pay bills on time, don't buy every toy you want, put at least 5% in either savings account or 401(k).
2006-07-21 00:34:53 · answer #7 · answered by Mike R 5 · 0⤊ 0⤋
Budget!
2006-07-21 14:49:07 · answer #8 · answered by ltllady08 2 · 0⤊ 0⤋
predent it's not there
suriously, put it away in a savings of some sort...
but do take some out b4 putting it in there so you can have some fun, & that way you don't raid your savings LOL.
;-)
2006-07-20 22:33:23 · answer #9 · answered by Am 4 · 0⤊ 0⤋
Maturity.
2006-07-20 22:34:10 · answer #10 · answered by Pancakes 7 · 0⤊ 1⤋