Yikes, this is hard to ask. It seems my bills equal my pay. I need to save some money. Any clues? Thanks.
2006-12-16 05:30:38 · 9 answers · asked by The N8 2 in Business & Finance ➔ Personal Finance
First, get a high interest savings account. Create a budget. Set aside a percentage of your paycheck to go into the savings account and NEVER touch the money in this account. It should be for your long-term goals. You can also deposit your coins into the account. Consistency is key. Prioritize. Decide what you REALLY need and stick to it. Cut down your expenses and make sacrifices if necesary. Do not spend what you don't have. You will regret it. Also, you could make some extra cash on the side by getting a second or part-time job. But if you are looking into making a lot of money, you should consider starting a home-based business. The following is a great one, check it out: http://www.americhoice.unfranchise.com E-mail them any questions at americhoice@unfranchise.com Hope this helps and God bless.
2006-12-16 06:11:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Now, now don't tell me that there are not plenty of people you know who make less than you and get along just fine. I guarantee you can cut out a few things. Everyone can. What I'd say you should do is arrange to have 10% of your income directly deposited into a savings account. Live on the 90%. You can pay your bills fine if you scale back on some un-neccessary stuff. Most people are in the same boat. It's called the Titanic.
You don't owe anybody more than you owe yourself. Pay yourself the 10% before you pay anyone else. And remember, that money is not for cars or clothes or trips or anything but building greater prosperity for yourself. You can do it. Get started right now. I know lots of people who never save anything their entire lives. They are miserable their entire lives. Forego some immediate gratification for long term lasting comfort. It's worth it.
2006-12-16 22:04:28 · answer #2 · answered by Big R 6 · 0⤊ 0⤋
Start small.
Empty your pockets, purse, etc. everyday of extra change. At the end of the week, take it to the bank and put it into a savings account. make sure the savings account is not linked to your checking account.
Put 1% into a 401(k) at work. This will get you free money if your company has a match program. Increase to 2% next year.
2006-12-16 06:25:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can start a home business or get another job to make more money and save the money that you make. Go to my website http://shannon.myteamonthego.com/ I can help you out. Just fill in your information on the next page and I will email you. Don't worry, nobody will call you or harrass you about it.
2006-12-16 05:35:48 · answer #4 · answered by Shannon B 2 · 0⤊ 0⤋
Maybe you could try the envelope thing, Label each envelope with names, such as Food, Entertainment, Clothing, Laundry, Rent. And put how much you need a month and try not to go over it,, save all receipts too to see how much you are spending and where.
2006-12-16 05:34:36 · answer #5 · answered by Michelle N 5 · 0⤊ 0⤋
Consistently give 10% off the top to your favorite church or charity. You will come out with extra left over if you give consistently. Cut out extras, like vendo pop and eating out. Then save the extra.
2006-12-16 05:33:32 · answer #6 · answered by stick man 6 · 0⤊ 1⤋
cut some of your budgets that you don't need to spend...
Also other way is transfer weekly automatically of the amount you want. But one thing you demand to do is the commitment to not touch it until emergency or get something affordable that you dream of.
2006-12-16 07:02:16 · answer #7 · answered by starsgirl021687 2 · 0⤊ 0⤋
Work More Hours and Spend Less.
2006-12-16 05:48:11 · answer #8 · answered by prem 2 · 0⤊ 0⤋
cut down your fuel expenses
2006-12-16 05:33:31 · answer #9 · answered by anand p 1 · 0⤊ 0⤋