I'm crap with money whats the best way to save money?

Answer 1

send it to me & i will look after it for you

Answer 2

I'd like to recommend a book called Automatic Millionaire by David Bach.

He has an alternative approach called Paying Yourself first. Briefly, it's pull X percent out of your paycheck every month and put it in your 401K, savings, and/or to pay off debt. You do this before you ever see the money, automatically. Then you live on the leftover money. It's a good system that I use and you might find helpful.

Currently I'm deducting 15% out of my paycheck for my 401k (because I need to catch up) and 5% to build up my emergency savings, before I even see it. After that savings is at 6 months worth of expenses, then that 5% is to go to savings for buying a car or whatever my goal is at the time.

After a couple of months you totally get used to living on the leftover money you actually receive.

There are also other really good simple tips in the book to dramatically improve your financial situation.

Do yourself another favor and get the book at the library or used and save some money. Personally, I like Half.com for buying used books.

If you want to get an idea of what this is all about, you can go to David Bach's web site below: He's got some introductory podcasts and book excerpts on there too. Just explore.

Answer 3

You will have to clearly define the % of money you are going to reserve for Income Tax and other monthly expenses. The balance money will be one for savings and in this at the end of the year only 50% must be spent in holiday tours and other improvements house, living style etc., Balance 50% should go as investment. Suppose iicome tax is 8 1/2% of the income (one month's salary approx.) and 60% goes for all expenses then 31 1/2% will be for savings. Therefore easily 16% should go for investment and long term savings. Expenditures will have to as per the norms what one decides like the above. There would be a huge sum in 15 years as bank balance.
Are you ready? Best of luck.
VR

Answer 4

Hi,

If you have that problem you need to get rid of it. So cut everything you don't really need.

That includes all but food and enough to get buy.

2nd make more money, and since you are online you have the amazing opportunity to start an online business. Personally I suggest the one I am currently in.

I was even able to quit smoking just to save money - you too can.

Karl

Answer 5

Give yourself a reason (goal) to save for to begin with & start from there.

Not everone has enough of an income to want EVERYTHING they want (not need...) RIGHT NOW. That will be your first lesson.

My wife & I spent nearly ten years digging out of massive debt - it was truly difficult; we're not completely out of the woods, but we had enough to buy ourselves something recently with cash that would have been on a credit card, and would have ended up costing us double the amount.

Good luck in your endeavor.

Answer 6

They say the first rule of finance is pay yourself first. Start saving regularly, set up a separate account. Direct deposit if you can. Stop buying anything at 7-11, Starbucks etc. Good Luck!

Answer 7

there are two basic techniques
1. Reduce your needs
2.spend after saving i.e. first save the amount of money you want to save from your salary then spend the rest judicially...

Answer 8

have your paycheck be directly deposited in to your bank account that way you dont see the money. or you can put some of your money in a CD for a year so that money will grow and you CAN'T touch it for the entire year.

Answer 9

heyyy what a coincidence, so do I. I thought it was me but after a long thought i've come to a conclussion ... the place where i work doesn't pay me enough :D I thought they have paid me enough but then again with the condition of my country I give it a second thought.

So there you have it.

Answer 10

read some articles on how to manage money on this site and more on how to invest where to invest how to budget and lots more