How do you keep yourself from spending money when you are trying to save? It's not that I can't keep any money, I'm just looking for new ideas to spend less money, nothing more than the basics. I don't carry cash, only cards.
2007-07-07 10:12:21 · 11 answers · asked by JJ 3 in Business & Finance ➔ Personal Finance
I have a debit card and a credit card. I use the debit card mostly, but I'm trying to build up my credit since I'm only 20.
2007-07-07 10:27:29 · update #1
You need to have your "savings" automated...like 401k, ira, stock investments, savings (direct deposit into a separate "untouchable" account". Good luck
Also check out the book Automatic Millionaire book for some tips.
2007-07-07 10:47:34 · answer #1 · answered by cran 4 · 1⤊ 0⤋
That's your problem. You can't save if you only spend money with credit cards because it's not your money. Not to mention your only spending more since you will be paying interest on whatever you buy anyway. Secondly, you said card(s). Why do you carry more than one if you are supposedly trying to save? Why not only withdraw say, 50 dollars for the entire week (from your checking account!!). Keep 25 in your wallet and 25 in a drawer or something incase something unexpected comes up. And dont spend more than the entire $50 (or maybe even less) the entire week.
2007-07-07 10:23:27 · answer #2 · answered by Anonymous · 0⤊ 1⤋
I agree that it's hard to not spend money. There are so many things we all want. I did one thing that helped me. I wrote down every cent I spent for a year. I made a budget, estimating what I thought I was spending on everything, and put all receipts in an envelope in my car. When I came out of a store, the receipt went in the envelope.
At the end of a month, I enjoyed sitting down and putting the figures on my budget sheet. Since I had averaged all my estimated expenses over 12 months, sometimes I spent more on one category one month, less in another.
Then you can see what it takes you to live on, and you know what you earn, so you should be able to see what you can save. When you see it this way, it makes you see that you probably spend a lot more than you want to on junk that you think you need but don't. Good luck!
2007-07-07 10:23:42 · answer #3 · answered by P S 4 · 2⤊ 0⤋
i am sorry you lost your pet , it is always so sad... I would recommend 2 kittens together, for a few reasons- they are less likely to shred your furniture and your hands/ankles etc if they have each other to rough around with (you had an older cat before so it may be a while since you had a kitten and you may end up witha real handful lol!) and they are more comical together- a friend is always nice to have nearby, and then on a more sombre point- you say you & your husband are retired- whilst i wish you a long & happy retirement, your new cat(s) may outlive you...(i know this can always be the case as you never know whats around the corner..) but when you get older the chances do obviously increase. And incase 'the worst' happened, you can sleep easy knowing your babies have each other..
2016-05-20 23:47:25 · answer #4 · answered by ? 3 · 0⤊ 0⤋
If there is a retirement plan or any other deferred savings plan at your work, put a percentage of your pay in. This will do two things, force you to save for your distant future and stop you from spending so much of your pay - you can't spend it if you don't see it. Plus it will lower your taxes if it's in some type of 401(k). At your age, if you start saving now, you can be a millionaire in your 50s. Good Luck!
2007-07-07 10:35:24 · answer #5 · answered by stklotto 4 · 1⤊ 0⤋
Have a portion of your paycheck direct deposited into a good savings account. You will get used to not having immediate access to the money. Leave it in the savings account and allow it to grow.
2007-07-07 10:23:58 · answer #6 · answered by mister_galager 5 · 2⤊ 0⤋
Invest in your company 401K plan and have the money yanked out before you ever get it. It's forced savings and 20 years from now when it's grown substantially, you'll be very glad you did it.
2007-07-07 10:37:25 · answer #7 · answered by Anonymous · 1⤊ 0⤋
First stop spending at the wrong places....Big department stores has made enough of money off of you..shop here http://www.mypowermall.com/Biz/Home/15385 and YOU get the rebate money!!
2007-07-07 13:46:38 · answer #8 · answered by James R 1 · 0⤊ 1⤋
Buy a car or property.
You'll never need to worry about having "spare" money again.
2007-07-07 10:21:06 · answer #9 · answered by Derick 2 · 0⤊ 2⤋
write out your expenses, and make a budget.
2007-07-07 10:18:17 · answer #10 · answered by jon f 2 · 1⤊ 0⤋