What is the best way to save cash that I won't be tempted to spend it?

Answer 1

If you work for an employer who either would deposit into a savings account for you in addition to sending your check directly to the bank, that would be the best....because if you don't see the money then you won't be tempted to spend it. Also if they can put some away for you in like a Roth retirement fund, that would be best. If they put money into bonds automatically that's good too...if they are a company that is making money and it looks like they will be in the future as well, and if they have a stock plan you can invest in their stocks.

If you aren't of working age then I suggest you get a piggy bank of sorts that you can't dig out the money and just put in there the extra change you get.

Answer 2

What I do is buy a metal money tin that cannot be opened. It can only be opened by a can opener and even that, it doesn't do a great job of opening it either. Usually I give up. But ask one of your parent to hide the can opener so you know you won't be able to find it. Every time you have loose shratnel in your wallet, pocket, purse or whatnot, put it in the tin. I saved up $500AUD+ in 4 months. That's alot of spare change!!!

Answer 3

i would set up direct deposit with treasurydirect.gov or you can link it to your saving or checking account. then have recurring purchases per pay period.

you can buy bonds that can be cashed after 5 years, if cash before 5 years, you lost the last 3 months interest, minimum purchase of 25 dollars
or bills that are for 4 weeks, 13 weeks or 26 weeks, minimum purchase of 1000 (if 1000 is too much per pay, set up recurring purchase every month or 2 months)
all interest earn are state tax exempt, and you won't have access to until it matures. when it matures, it'll automatically be deposited into your link account.

this way, you'll keep saving and your saving will keep growing and you don't even have to keep track of it.

Answer 4

start a savings account once you get money dont even let yourself have time to go out to places where you know you will spend then just go straight to the bank and put it there its much easier with a bank account because if you still have the money in your hands you wont be able to resist the temptation if its too hard for you start by putting in half of the money you got and keep the other half this is what i do so if whenever i end up in trouble i can just withdraw it :)

Answer 5

Set up a seperate amount to be deposited from your paycheck directly into a savings account. If that isn't possible with your employer, take whatever you want to save every week and deposit into an account.

You can even do this online using ING

Answer 6

If you don't think you can leave it alone in an account, give it to someone you trust (a parent, maybe?) and set a limit for when they can give it back to you. Maybe on a certain date, or when you have enough to make a certain purchase you're eyeing.

Good luck!

Answer 7

contribution to 401k, 403b, 457 first
second open ROTH IRA or traditional IRA through brokerage by bank draft or direct deposit. that the easiest ways to save. In the mean time, learn how to invest to enhance return of your saving.

Yes you could learn invest by yourself. it is your money, you should know how to do with it. for starter check this site out.

http://www.pathtoinvesting.org/index_fla...
http://www.stockcharts.com
http://www.streettalklive.com>... university. a lot amount of information. It will serve you well
I accumulate in good amount in 401k at the young age.I could share with you. when consider invest in stock market. you should consider basic 3 things:

fundamental analysis==(economic data,finincial health, management, business model, competetion)>>what to buy

technical analysis==(chart+indicator)>> when to buy

Sentiment/schycho analysis==>>mood of investor, Contrarian point of view.
Market cycle===>> check out book Trader Almanac by jeff hirsch will give you inside stuff
When you combine 3 thing, It is one of the powerful knowledge goinh with you for the rest of your live

At the age of 32. my 401k is amassed 71,000.00 and 30000.00 in taxble account. by follow simple rule

Answer 8

Give it to someone you trust implicitly (parent, sibling) that does not live with you. Instruct them not to give it to you under any circumstances, except the time you designate when you set this up with them initially. That way it is out of sight, out of mind, and most importantly, out of reach.

Answer 9

open a retirement fund

Answer 10

Ill hold it for you.