2006-12-13 16:27:17 · 8 answers · asked by mike j 1 in Business & Finance ➔ Personal Finance
My experience is that the only way to save money is to:
"Pay yourself first". In other words, as soon as you get paid, immediately put at least 10% into a special savings account earmarked for savings, or for vacation or whatever. Pretend that you only earn the amount left over. You'll get used to living on the smaller amount and the savings amount will grow.
Try it and see.
Good luck.
2006-12-13 16:34:34 · answer #1 · answered by concernedjean 5 · 0⤊ 0⤋
I agree with the above answer to a point. To pay your self 10% first and live off the rest is a great way to start.
Dont use that 10% for a holiday save it for a year and invest it.
This is an old old saying that the king of Babylon had his fellow man taught in the days before Jesus was here. Becoming the richest city of all time.
They refer to the savings as your children and made them work for them. In return those children made more children and they too worked for them.
This being the begining to financial freedom!!
Then you may spend and it doesnt empty your wallet.
If you want to know how we make our "children" online creating multiple streams of income feel free to e-mail. We are here to help you and hopefully you may help some others in need as well
I hope this helps you
To your success!!
sholsdoinit@yahoo.com
2006-12-13 17:24:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because if you are anything like me, everytime you get money you go to the store (WAL-MART, such an evil place,) and you go with good intentions of just buying what you go in for. Yeah, then you end up leaving pennyless and with a bunch of crap you really could have lived without. Also as a side note... No matter how much money you make, it is never enough. We doubled our income this year, and we were more broke then before.
2006-12-13 16:30:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
We live in a world where advertisers tell us we need it now. Don't repair it, get a new one, upgrade that old one. Can't afford it, no worries - get it now and pay later.
We are not encouraged to save. You have to change your mindset from get it now pay later to Save for the bulk or all of it.
Use lay by rather than credit cards. Helps heaps.
good luck
2006-12-13 16:29:53 · answer #4 · answered by peneth4 2 · 0⤊ 0⤋
It's not. It's very easy. Just start doing it. Have a bit of willpower.
Once you get into the habit it becomes second nature.
2006-12-13 21:07:35 · answer #5 · answered by Big R 6 · 0⤊ 0⤋
Because the things it can buy are so much more fun than the money itself.
2006-12-14 10:30:21 · answer #6 · answered by Don't Panic 2 · 0⤊ 0⤋
The answer is Original Sin. The compelling urge to have what you can't have or don't need.
2006-12-13 16:30:05 · answer #7 · answered by Mirowera 2 · 0⤊ 0⤋
Because you smoke, drink alcohol and gamble.
2006-12-13 16:40:17 · answer #8 · answered by Anonymous · 1⤊ 0⤋