2007-03-06 22:19:19 · 10 answers · asked by nurisa 1 in Business & Finance ➔ Personal Finance
1. Pay off all credit card debt. You should have: '0' due on all your cards. Then cut them all up, except one master card and one visa card, again ZERO owed of those too. These are just for ordering plane tickets and the like. No other purchases. Pay them off when due. (The interest rates will rob you of all your extra cash.)
2. After the cards are paid off, put that money you are spending on card payments into your savings account.
3. Watch your current spending: NO MEALS OUT, no Coffee out, no cable TV nor DVD/Video rentals. These three things are the easiest expenses to cut out right away. Use the money on this to first pay off all credit card debt, then put the money into savings.
4. Buy your clothing at the Thrift shops. This supports a good cause and is a lot cheaper, especially kid's clothing.
Good luck. You can do it! You should be saving 10-20% of your take home pay, more if possible every month (especially if you are over 40. You will be happy when you retire. Pension plans can't be trusted--at least not in the USA and Norway!!)
2007-03-06 23:35:15 · answer #1 · answered by Alea S 7 · 0⤊ 0⤋
Your savings should be the first "bill" you pay. All your living expenses should come after you allocate your savings money.
That way you are learning to live without it. In no time flat, you won't even notice it anymore.
If your bills are not all paid after this you need to either
1. Trim the "fat" off your expenses i.e. cable tele, cell phone, magazine subscriptions, etc etc
2. Increase your income. Get a raise or a job that pays more money. Utilize your current skill set, post your resume on Monster and CareerBuilder.
Good luck!
2007-03-07 01:51:01 · answer #2 · answered by Ethan 3 · 0⤊ 0⤋
Maybe sort through your bills and decide if that cell phone, or cable tv is worth it.......also we saved a lot of money by not eating fast food or eating out all the time. There are ways, but some of them require not doing luxury things like the rest of people do. Buying your kids every new thing that comes out cuts into a budget, also......
2007-03-06 22:23:49 · answer #3 · answered by kaliroadrager 5 · 1⤊ 0⤋
you can join a business company that makes you save more money but this is only available in malaysia only...
2007-03-08 14:12:14 · answer #4 · answered by Nightmare 1 · 0⤊ 0⤋
Might want to track your spending, or pick up a part time job.
2007-03-06 22:21:04 · answer #5 · answered by Anonymous · 1⤊ 0⤋
By cutting down your expenses. Stop eating out, buying stuff that you don't need, etc.
2007-03-06 22:22:03 · answer #6 · answered by Dr Dee 7 · 2⤊ 0⤋
cut down the bills or just dont pay them...
2007-03-07 02:05:11 · answer #7 · answered by dellstar_mofas 2 · 0⤊ 1⤋
Get a rich boyfriend.
2007-03-06 22:34:52 · answer #8 · answered by Geeeyaaa 4 · 0⤊ 2⤋
Get another job?
2007-03-06 22:22:12 · answer #9 · answered by Sheriff of Yahoo! 7 · 2⤊ 0⤋
walk straight back
2007-03-06 22:21:48 · answer #10 · answered by Anonymous · 0⤊ 0⤋