why can't i save money?

Question

i am always skint

Answer 1

Tell me about it! I am terrible with money but I reckon the best advice is "take care of the pennies and the pounds take care of themselves" Before you buy anything think "Do i really need it?" Even if it's really cheap.

Answer 2

What does "skint" mean? You've got to change the question. To not why "can't" I save money to why "don't" I save money. Spending is a choice and so is saving. Make your choice. Don't you want a little nest egg? You can save a little and still have plenty left to have fun with. Figure out a savings plan that works for you. Lots of people gave you good ideas here. If you asked your friends I'm sure you'd come up with some more. There's very little "can't" in this world. Lots of "don't." So, why don't you save money? It's easy and it's good for you. Get into the habit and enjoy life more!

Answer 3

Well I have to agree with the others. Buy only what you need and avoid purchasing branded items. A further way to save cash is to buy at discount stores. Now, before you go on a spending spree, you need to first establish a budget. Ask yourself:” How much am I willing to spend?”

The budgeting principle should also be applied to everything else. Say you’re earning £ 3000 per month. Factor in your utilities (gas, electricity, etc.) Suppose your monthly bills (utilities) total £ 300. Factor in rent, car (a good way to save here is to use the public transport system). If you are single, you can share your flat with a roommate. This will reduce your expenses further. Reducing food costs might also be something you want to consider. Avoid eating out rather cook yourself. Say, all of the things mentioned above equal to £ 2000. This roughly gives you £ 700 per month to save. If you have saved enough, open a deposit account with an automatic roll-over principle at a bank and increase it by a certain percentage every month.

Hope this helps. Good luck.

For further advice read books by financial adviser David Bach.

Answer 4

The key to saving money is to save it before you do anything else. Take 10% of what you make and place it in a savings account of some kind before you pay anything else! After that you live on what you make; if you cannot then you are living beyond your means. Now some will say they cannot do this for they do not make enough. Well, you have to look at your expenses. Cut out that soft drink, that is one dollar there. Get rid of cable, Internet access, etc. Now when this money gets built up in savings beyond a amount you will need for emergencies, like job loss or medical expenses, invest it! A great book to read that is short and very simple it "The Richest Man in Babylon" by George S. Clarson. I promise it will take less then a day for you to read and it is written in story form so it is not boring. You can find it at any library too.

Answer 5

That depends...
If you spend more than you make then you won't be able to save money.
If you don't make enough to meet your basic needs then maybe you need a better or an additional source of income.
I suggest you start monitoring ALL of your expenses including snacks, drinks and see where it is all going. You may be surprised.
Then, you could make some decisions as to what you really want to do with your money and whether you can save any or not.
You may also consider talking with a financial counselor. They can often help you know where your money is going and what you can do to keep more of it.
Hope this helps...
Good Luck!

Answer 6

Here's an easy way to save a little bit of money - say you make $100 a week - figure your budget with this number, then if you make say, $114.35 one week, you move that extra $14.35 into a savings account. Pick a number that's a little lower than your usual check and work with that. It doesn't have to be an even hundred, but it's a lot easier to figure that way.

If you ever fall short one week, you now have money in your savings to put back if you need it. You'll be amazed at how quickly it adds up.

Answer 7

I cant save money because of the state that I live IN and I dont earn enough,but when I did,I saved and also put money for me to have fun and this worked to me,dont spend so much that you cant save and dont save so much that you have no life.

I also looked back at what I spent on,for Instance I used to rent videos quite a bit and after a year I found out that what I spent I could have used for a down payment for a car.

I made better choices and this worked for me,I also started to make my own coffee at home,this saved me about $100 a month

Answer 8

Keep a small journal in your purse of every time you spend money. Everything. This will help you in two ways. One, you will be thinking harder about what your're buying when you know you have to write it down, and then at the end of the month, you can go over your spending log and figure out what you could cut back on or do without for next month.

Answer 9

Earn more
Spend less
Buy what you need and not what you want
Ignore brand names
Forget that you ever earnt 20 or 25% of your money and put it into a savings account by direct debit the minute you get your salary

Easy - ain't it?

Oh yeah add a dash of will power and common sense.

Answer 10

well depend´s on how old you are, if you don´t work then it´s only pocket money you get , Right? so if that is the case , maybe you can ask for a little extra , help your mum or grandparents around the house or are you old enough to do a paper round , even if you save 1 pound a week at the end of the year , 365 pound´s enough to buy all your family a small present for Christmas, and something for yourself

Answer 11

Be like me and get a very large coffee tin, make sure that you sellotape the lid very firmly down, so that you will not be tempted to break into it and make sure that you do not injure yourself while making slits in the lid bigger enough for you to drop coins in, and not turn it upside down trying to get the money out. put it away somewhere, where you are not going to be tempted by it, and then do what i did save all your £2 coins and £1 coins in it, you will be so surprised how much you can get out of it in the year. I had over £700 so now I have done a tin for 20p coins and one for £1 +£2 coins.