Everytime you earn some money take a predetermined amount, say 10% put it away as savings. I suggest that you put it in a savings account, its more difficult to access it. If its right in front of you you might be tempted to spend it. You will have to discipline yourself to save. Once it goes into your savings account leave it it and forget about it until it comes time come that you really need the money, and I dont mean to buy that I pod or cool toy to impress someone.
here are some other tips.
1. Buy only what you need and will use. Do not buy things that you may use only a week and then have it sit on the shelf somewhere.
2 Stop going out to eat. Eat at home or pack a lunch
3. Cut back on treating others to lunch or dinner.
4. With gas prices the way they are do as little drivng as possible. try to do you shopping in one trip.
4.
2006-12-16 14:19:36
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answer #1
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answered by mongo_wood 3
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Self-discipline. Develop the habit of running your life like a business. Four years ago, I started writing down every instance of when I would spend money, on white-lined paper. One hundred percent of the time. Paying a bill by check in the mail, a dime in a parking meter, postage stamps, a soda from a machine, a tankful of gas, a purchase online, didn't matter; it got written down in chronological order. Date, Amount, Name of establishment, Description. I found that the most I ever had on any given calendar day was fourteen (14) transactions, and usually it averaged around five, so it was not difficult to do. And in the process, I got to trust myself with my own money. Learned a lot about myself and how I thought, also!! Most people cannot trust themselves with their own money. They only know "approximately" what they have, and in which account it is, on any given day; they only know "approximately" how much they need for this or for that (a euphemism for "they do not know"). Setting goals to set aside something for a future investment became much easier after gaining my own trust became a habit, as natural as breathing. And earlier this year, I learned to put it all on Microsoft Money 2001 on my notebook computer, so now it is continually in both places -- the paper file and the computer. You'll have a hard time with Microsoft Money unless you first have developed the habit of tracking everything on paper. I find that keeping a supply of pads of paper in the car along with the file box, and never letting that file box out of the car, is essential to the discipline of paper-tracking my finances. And the # 1 side benefit is financial self-respect. Impulse buying became a thing OTHER PEOPLE do; I never do. Unpleasant surprises from my bank became a total thing of the past. Everything gets planned out in advance. It works!!
2006-12-16 22:30:16
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answer #2
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answered by JackN 3
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Hello ,well this is my way of saving,the first mistake that we make is spending more then we make,so you should first make a list of all your expenses,and then of how much you make.after you have figure this out ,put as much as you can on each bill that you have sometimes i may put you to a point where you don't have a lot of money left over to play with ,but that is okay,because the next time around the bills come around,you will have less debt,for Ex:light bill maybe 250.00,you can make a payment of 125.00 on the lights,you have 125.00 left and then the next time you get paid even if you don't have a new light billl still put so money towards your light bill to bring it down,or pay it in full,then after you have gotten your bills whee you are current,always try to put money on the regular bills even if it is just 20.00,this does add up,reg bills meaning lights,phn,cable etc.Okay now that you have gotten this bills current,and ahead,you now have some Free money to start putting into a saving,make a plan for each pay chk,and plan exactly how much you are going to pay on each bill and how much you are going to put into saving each time you get paid ,try your best to stay on the plan.I know it alot and may be Little confusing but trust me it work,help me to be able to by a new house !!!! NO JOKE,sorry for any mispell words
2006-12-16 22:56:46
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answer #3
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answered by beauty 1
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Every check you make, put 20% of it in the bank every week/every other week, whenever you get paid. It ALL adds up! And keep a Debit card with you. GREAT inventions, and they aren't like Credit Cards where you have people on your tails waiting for you to pay them back, it all comes from your bank account. Only use this in emergencies. You really DO save a lot of money and can eventually afford the things you really want time and again. :-)
2006-12-16 22:10:38
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answer #4
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answered by sally b 4
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You said "best" when you should have asked "some good." "Best" is relative. What's best is what works for you. You can come up with the best plan in the world. If you don't actually do it, it's a moot point. I say follow the advice of David Bach and "make it automatic." Open a savings account and have a bit directly deposited. Easy and painless.
2006-12-17 03:53:16
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answer #5
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answered by Big R 6
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The best way i know to save is too put at least 10% of the earnings a way and make a commitment and only use it for a RAINY day,after a wile you will see it grow a you will possibly put more into it ,because you can see its potential.
2006-12-16 22:30:01
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answer #6
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answered by chascicc 2
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I have a little system i use to save money ( this works for me because i get tips as a waitress ). whenever i get a dollar bill with a B on it ( you can use any letter you like) i put it away in a savings account. it's kind of like a game, so it really works for me.but like i said, i wait tables for a living right now, so i come across a lot of dollar bills in a day.
2006-12-16 22:12:55
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answer #7
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answered by Tina 3
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If possible deposit as much money as possible into an online savings account..ING direct is the way to go right now offering 4..5%apy..if you refer someone you also receive 10dollars..it takes five min to join and is very easy to operate...by storing your money in a checkin you are losing so much money due to inflation, this way ing you are basically protected along with making some cash..
2006-12-16 23:22:41
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answer #8
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answered by Allstars 2
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open a ing saving account www.ingdirect.com they allow u to take money out of ur bank and into ur ing account and u have no card so u cant just withdraw money
2006-12-16 22:21:04
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answer #9
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answered by Anonymous
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Don't spend it on material things or on women who just want a free dinner.
2006-12-16 22:09:09
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answer #10
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answered by Dweet 3
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