Anyone got any tips on saving money away each month??

Question

I spend spend spend!!

Answer 1

Go to www.daveramsey.com ----- has helped me alot , by using budgeting forms

Answer 2

How to save,?
I would suggest to first find something that you want to save for, be it retirement, getting out of debt, new car down payment, buy and pay off a house, maybe nothing that big but I hope you get the drift.

After-wards look at your finances, figure out where you are spending a lot and look where you can cut back some, for example maybe 100-200 a pay check, place it into a CD, or a investor account. Use a savings account as a 3rd resort. The investor account ( fidelity, JP Morgan and chase so on and so fort). They have accounts that return about 5% APR and they will give yo a debit card to get to the money at you r convenience.

After that just keep adding and what your money grow. If you goal changes so be it just keep saving, but having that goal is the most important thing.

Answer 3

Give yourself a monthly allowance in cash. If there is something you want (as opposed to need, like groceries or rent) only use the cash in your wallet. If you have cash, you can buy it guilt free- if you don't, force yourself to wait.

Also, have some moeny automatically transferred from your checking account into both a retirement account and a savings account every time you get paid. If it gets taken out automatically, you don't have to think about it and it will grow. Even if you only start with $20 a month, that is so much better than doing nothing! You can always increase it once you realize how easy it is. Choose a high interest rate account- I use ING Direct online, which is very easy and I'm currently getting 4.5%.

Good luck!

Answer 4

If you spend everything you get your hands on, arrange to get your hands on less. Does your employer off direct deposit of your paycheck? If they do, ask if you can have part of your check automatically put in a separate savings account. That way you never see the money and are less likely to spend it. This is the exact reason for income tax withholding. A written budget will help as well.

Answer 5

i am not the one to ask! i spend spend spend too! but since i do, what i do is everytime i buy something, i just stash any "change" and any odd dollars i have left ina piggy bank for my daughter! i dont have much to work w/ in the first place but i seem to do pretty good just doing this! like when i buy thing, i always just use cash, and save a lll the change for her. and if i acvtually get home w/ money, say like $27, i would save the 7 too and all the change, which after yesterdays shopping, i had like $5 in chang in my pocket! it is just a little but everytime i go to the stores i do this and it does add up! then as long as i dont spend it. which i havent so far! and she is 1!

Answer 6

Get rid of your credit cards - cut em up.

And, most important. do the same with your check cards.

Most people think I am ludicrous. I have no check/atm card.

Each week, I drive down to the bank and take out what I think I need for the week. When it is gone - it is gone. Unless, I have a special reason to go get more.

Its the psychology of it. Handing over your check card and then the clerk handing back doesnt hurt. Your card looks the same as when you gave it to them.

Now, try that with cash. Go to the bank and take out your spending money. Get it in small denominations - like 5's. Now, everytime you purchase something, it hurts. To watch your stack of dollar bill shrink - you will limit your spending. When you have to hand over something tangible, and not get it back, you will learn to stop spending.

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next. Get a savings account a separate bank. Also, make it uncoveinant to get there - one that is out of your way. Get a bunch of deposit slips when you open the account. DO NOT GET AN ATM OR CHECK CARD or CHECKS.

Now, when you have extra cash or checks, mail in a deposit slip with the money to that savings account. Get it up to whatever amount you want, then let it sit there - or keep adding.

The beauty of this is - you will have to drive out of your way during normal bank hours to get at this money. I have a savings account at a credit union in downtown. I have to drive down there and fight traffic during normal business hours to get at this money. So if it is for something frivolous - I will change my mind when I think about the hassle.

Answer 7

Open up a savings account and start putting in a little at a time in it each week/month. Try spending less, stick to necessary purchases rather than impulsive ones.

Answer 8

don't spend more than what you are earning. spending with extravagance is only for those people with extra money or surplus money to spend on. In the like of those who spend on interest earn on their savings or big businesses.

Answer 9

I know what you mean.

Put some cash, day by day in a safe, hideout type place where you live so instead of keeping it in your wallet, you are saving up.

Or, put it into a savings account at your local bank and that way it could grow with intrest over a long period of time.

Answer 10

Pay yourself first....When you get a check for $1000 (or anything), before you spend ANY of it, take 10% and put it in an "off-limits" account...