How do i save my money?

Question

I just got a job and I don't know how to save money. I'm very materialistic and like to have good things. but i wanna save some money and don't know how. What are some ways i can save it without trying to sneak into my piggy bank to buy sneakers? lol

Answer 1

Use the following priorities.

1. Have 10% or more deposited directly into a retirement account before you get your check.

2. Have 10% or more deposited directly into an Emergency account before you get your check.

3. Have 10% or more directly into a sink acocunt for large purchases later, before you get your check.

4. Have 5% or more deposited into a brokerage account.

Enjoy the rest.

Answer 2

Savings is paying one's self first. If your employer offers it, have them automatically transfer 10% of your paycheck into a savings account. If your employer does not offer this service, you will have to take 10% of your paycheck and deposit it into a savings account each payday. Once the money is in the savings account, you can't touch it. I don't even touch my savings for big ticket items I really want. When I find something expensive that I want to buy, I keep that money separate from my regular savings until I save enough to buy what I want. I do use my savings account for emergencies, but it has to be something really serious like my car breaking down or my furnace going out. I started working when I was sixteen and after two years of saving 10% of every paycheck (at $3.35 an hour, which was minimum wage back then), I had over $1200. Not bad when you consider I was only making $134 a week. Try it for 3 months (no cheating) and I bet you won't even miss the 10%. GOOD LUCK!

Answer 3

There are so many ways to save the money. That is you can save your money in your bank account, in some best mutual funds or in share market. If you are in governmental job then the provident fund is also good opinion to save the money. In Bank or post office you can open any account like recurring, saving or term deposit. So I think this time you open your bank account and save money from your pay.

Answer 4

Start by opening a high interest savings account. After opening the account, have money direct deposited from your paycheck directly to the savings account. You will not miss the money as much if you do not have to make the deposit your self.

ING Direct is offering 4.50%, with no fees, no minimum deposit requirements and you can get started for $1. More info at http://www.ingorangesavingsaccount.net/

Answer 5

If your job offers direct deposit I would say open a savings account and have some of your check deposited into the savings. If they don't then get disciplined and put money in the savings account yourself. JUST DO IT!!! you can, I know you can...
Good Luck~!

Answer 6

try to focus on some valuable purchase that you're planing ...When it gets to small sums, that's a good way, at least you don't spend money on trivialities...On the other hand investing money in long term savings in a bank or investing in stocks can also bring you some interests, besides when you need a substantial sum, you know where to get it ! Try to contact your local banker for your savings plane...

Answer 7

First Divide your money, first part put it in Fixed Deposit in a Corporate bank, the second part put it in Shares & Commodities, Blue chip., So that ure money is save and u can see de returns shortly

Answer 8

Make a budget and plan out how much EXACTLY you need to spend on bills, food, etc and put some away for emergency. Then you can see how much is left over for materialistic things.

Answer 9

open a bank account... if not, then contact me ill be so helpful to save it for you.......... lol

Answer 10

you have to displine yourself