2006-10-04 12:12:47 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Budget. Stop spending money on things that you don't have to.
Get out of debt. Don't balance it. Destroy it. Pay off the balances, cut up the cards. If you have to borrow to buy it, don't buy it.
Now you'll have money left to save.
2006-10-04 12:17:18 · answer #1 · answered by Steve M 3 · 0⤊ 0⤋
Yes. First, you don't "balance" debt. YOU PAY IT! You pay it AS FAST AS YOU CAN. When you're clear of debt, you can start saving money again. Really, you should AVOID debt by saving your money until you can buy what you want without going into debt. If you'd just do that, you'd end up paying only about half as much because you would not have those interest charges.
2006-10-04 12:19:34 · answer #2 · answered by David S 5 · 0⤊ 0⤋
The best success comes from focus. Focus on one or the other--I would pay off all the debts as fast as I could, then start saving. Imagine how fast you could save a lot of money if you had no payments to make!
2006-10-04 12:28:39 · answer #3 · answered by SnarlyBear 2 · 0⤊ 0⤋
Budget as best you can. If you want to save and pay off bills too, start small. Budget something like $5 a week for starters while putting most of your money on bills. It will add up faster than you think. You may have to adjust your budget a few times to see what works, but stick with it and you will get used to it in order to pay off bills.
2006-10-04 12:22:57 · answer #4 · answered by freedomchild99 3 · 0⤊ 0⤋
yes, here's my method it works
take your pay check each time you get pay and divide it into three parts.
the first part is 10% of your check
the second part is an equal 10%
the third part is the remaining 80%
the first 10% goes to the Church - The Bible says if you give to God's work He will bless you so much you will not be able to content it.
the second 10% you set aside to your retirement, its called paying yourself first. You never pay your bills and any other thing with this money. Its untouchable until you retire.
the 80% is used to live on and pay bills with. if you give to
God ask him for help to use the 80% wisely.
2006-10-04 12:31:13 · answer #5 · answered by zqx357 5 · 0⤊ 0⤋
stop buying things that you don't absolutely need. Move into a more affordable area. Take cheaper forms of transportation. Put money into a savings account.
2006-10-04 12:21:52 · answer #6 · answered by nothingcreativecametomind 2 · 0⤊ 0⤋
Budget your money. Stop using credit cards if you cannot pay them off all at once each month.
2006-10-05 20:15:19 · answer #7 · answered by Steve R 6 · 0⤊ 0⤋