I have opened up a CD and now I need other Ideas to save money. I am 25 with a child and I am in school. Please only give me serious answers.
2007-02-18 04:05:09 · 5 answers · asked by Flower 1 in Business & Finance ➔ Personal Finance
I know that I had certain things that I thought that I needed. I made a budget and figured out where I was spending and what I could cut out. Here's what I learned...
My weaknesses were my daily "splurges"
-I didn't need to buy the 4 buck latte every day. Coffee that I made in my own pot costs pennies
-I didn't need to eat out at every meal. A packed lunch took dollars off daily expenses
-I was spending lots on expensive hair products. I purchased the discount kinds. I can't tell any difference in how my hair looks or feels.
Maybe, if you look at your spending habits, you can find some ways to trim off the excess, too. Good luck.
2007-02-18 04:16:14 · answer #1 · answered by Anonymous · 0⤊ 1⤋
One of the way to save money is by looking at your current insurance policies....
Most people are buying policies that are upfront loaded such as endowment plan, retirement plan, saving plan, etc...
When you are on very tight budget, the only insurance that you should buy is term insurance. It gives you the same coverage with 1/10 th the premium....
If you are on other policies, then you should review them and if you just starting out that policies, you might consider to terminating it and changing it to term insurance policies.
Do your maths and you will know what I am talking about....
This can save you huge amount of money over the years....
The first year alone, almost 50% of the premium you paid would have gone to pay for the agent commission on an endowment plan.
Hope this help ....
2007-02-18 13:39:52 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Only buy what you need, and try to get good deals for it. Put more money in the back, and constantly, so you can get into the habit of not having ALL your money around. Try giving away some clothes or toys from you or your child to Goodwill or Parka or any other donation service and it will give you money off of your taxes.
2007-02-18 12:13:59 · answer #3 · answered by Ari ♥ 3 · 0⤊ 0⤋
Stop buying clothes even if there cheap i buy so much clothes im broke now! Buy cheaper foods put all your change in a jar for things for your child go to a thrift store hope this helps!
2007-02-18 12:09:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Earn extra money to save money...
2007-02-18 13:10:54 · answer #5 · answered by Rajesh 2 · 0⤊ 1⤋