how can i matain my savings?

Question

pls how can i mataian my savings along with my expenditure

Answer 1

as soon as you get paid, write a check for 5% and put it in an interest bearing account, then leave it alone. you will besurprised how it grows. It is hard to do this at first, but just bite the bullet and do it, it gets easier.

To save money, shop at resale stores, used furniture stores, ebay.

If you get the idea you really want something big, write that item down and put it away for one month. If after one month, you STILL want it, then shop for teh best price on it. Many items on your list, you will end up not buying. This will help if you have a problem with impulse buying.

Answer 2

Trying to do the very same myself.

For me it's working; Don't buy stuff you don't need, even if it's on sale. Don't know if it works in the US, but here it's cheaper to bring your lunch to work/school than to buy it at work/school.

I automatically save a certain amount every month and then don't touch it.

If you have telephone/mobile phone/internet/cable, see if you can switch to a new (cheaper) plan. Here is is occasionally possible.
Mobile phone contract lasts a year, or 2 years. Afterwards you can switch to a cheaper plan (but you get no new phone then). ADSL lines; when I started mine was 55 a month. I then switched to 30 a month, and will now switch to 23 a month.

If you pay for electricity, switch of any appliances and lights in rooms you're not in. Cut down your shower time.

All in all, see which things are absolutely necessary (rent, gas/electricity/water/insurance/groceries/phone), see what that costs and how much you have left over. Then check what you want to save, and whatever is left over you can use for whatever other expenses you have (movies, mall, eating out, whatever).

If your expenses are too high, you will never be able to get a nice amount in savings.

Answer 3

The first and most important thing is to spend less than you earn.
The next is to only buy things you can pay cash for.
Then you need to work out a budget you can stick to, including an amount you can manage to save each pay day.
Finally do not put money in a bank account but use a cash management fund which will pay much better interest and should not have any charges.

Answer 4

Make sure that after you've payed bill's and bought food you save a % of what you have left you decide how much or how little and get a direct debit to take the amount out of your normal account and put it into the savings account.Or just work out a good budget and save that way

Answer 5

Control on your expenditures. Save more as you can. Open a Saving Bank Account in a Bank and deposit the money saved by you in the bank immediately. Either open a Recuring Deposit Account with any bank or Post Office in which you can deposit money every month. You can choose the amount to be deposited every month according to your regular savings.

Answer 6

Well have you tried to shop at non-expensive stores, cut down on the bars if you ever went to them and spend more leisure time say at other less expensive hang-outs and my gosh there is so many ways you can cut-down, point is you have to know where you can shop for less, ever watch those Oprah and Tyra Banks shows where they discuss how you can maintain your savings?

Answer 7

Stop the shopings and night clubs

Answer 8

well i guess dont use it much only if you Have Emergency needs that you cant avoid''but you have to add it if you recover for you expenses