how can you save your money in a way that you dont sacrifice your wants & needs?

Answer 1

1. Learn the difference between wants and needs.

2. Prioritize.

Answer 2

Put a small amount of money from each paycheck into the bank. Even if it's just $10. Because, it all adds up in the end. Also, saving all loose change. Say you buy something for $17.50 and you give the cashier a $20.00 Then she gives yo back $2.50....put that remaining change in a jar or a bank. It's really easy to save with every purchase you make. If you put 50 cents in jar every time you break a 10, 20, or 50 dollar bill, you'd easily have a extra $100 a month just by change alone. You can also look into various mutual funds, which are savings accounts that double your interest. It's really not so hard, if you make it a priority. Also, you can buy off brands on SOME things, and take the money you save from not buying the top brands. That way you can still have what you want on most things, and still save some money.

Answer 3

I don't think you can ever save money without sacrificing something you want - because there will always be something you want that you could get by spending more money on it. I guess the only exception to that rule would be detaching yourself from material desires... that would be an EXCELLENT way to save money :)

However, short of that, I would say start by keeping track of what you spend your money on. I think usually there will be a couple things you spend a lot on, where you can end up saving quite a bit of money just by doing them a little less, but they will be different things for different people.

Answer 4

You will eventually need money for retirement. Saving now for then is being responsible to that future need.

1. Pay yourself first. Try to save as close to 15% of your earnings for the future.

2. Then you can focus on your needs and wants.

(Someone in their teens or twenties who does this can retire close to being a millionaire. Often this is money that can be used to purchase a home, car, etc. over the course of your lifetime.)

Answer 5

Epicurus, that ancient Greek philosopher, understood a thing or two about this. Start with moderation; not only are excessive pleasures expensive, they ultimately fail to please. Fulfill your needs to avoid privation. Know your needs from your wants. Indulge your wants moderately, small luxuries, even frugal ones. A small square of chocolate is only slightly less pleasing than a huge bar and costs less in money and calories. Indulge good things in small portions.

Answer 6

A well planned and executed savings plan is not a sacrifice, but a postponement. Do it right and you will reap far greater rewards in the long run.