Okay, this summer I finally have a full time job, and soon it will be senior year. I know there will be plenty of costs to go with this, but my problem is I have trouble saving money. As soon, as I get it, its gone, even if I really know that I"m going to need it the next day. Its sick.
Well, I was wondering do banks have savings account where you can put money in, but you can't take money out until a certain date, or under certain circumstances? I will be 18 Friday so I will be able to open my own account and stuff. (I already have a shared account with my mom) That would make my life a whole lot easier.
If not, do you have any suggestions as to how I could save money, I will be making about 1200 dollars this summer, but I want to save 1000.
2007-07-09 12:59:00 · 7 answers · asked by gravytrain036 5 in Business & Finance ➔ Personal Finance
Where you put it in and cannot take out is a CD or timed acct with a higher rate of interest.
To save is to commit.
I save every couple of days. I save for the cigs I do not buy and other things.
I have paid cash for my cars since 1992 because I save so well.
I also travel to many places, so it is not like I live like a homeless person.
Spend the minimum each day and you can save that $1000 easy
Good luck
2007-07-09 13:09:24 · answer #1 · answered by Michael M 7 · 1⤊ 0⤋
Throughout your life, you will constantly have money and have needs and have wants.
The best thing you may do for your finances now is to try to save all that money, realize how difficult it really is, and wind up spending it.
Your 18, if you can't have any discipline now, you likely won't have any until you learn the hard way. I don't say this to be rude, just practical - Your mom won't be there to hold the money for long.
(You can get a Certificate of Deposit - ask about it at the bank)
2007-07-13 12:32:44 · answer #2 · answered by Byron W 3 · 0⤊ 0⤋
Set a goal ... which you have.. $1000 . Watch yourelf achieving that goal.
I use a program (CalendarBudget.com) that lets me see the balance of my account on any given day. You will see that if you go and buy that new pair of shoes or other item.. you will miss your goal. Or you can see if you're overspending on a category.
I've used the program to plan for a cruise we went on, and going down to a part time income. We were able to continue our current standard of living and only cut down on our savings and extra payments for our debt.
Do be strong willed with yourself. You cannot spend more than $$'s this week to be able to reach your goal and stick to it. Report to someone that will be excited about your progress as well. Encouragement always goes a long way.
For future planning... see the blog of ideas that can further help you and give you encouragement to stick to your budget.
2007-07-10 15:19:00 · answer #3 · answered by Robin 2 · 0⤊ 0⤋
try giving the money to ur mom and make her promise she will not give it back 2 u until u actually find something good enough to spend it on
2007-07-09 20:04:53 · answer #4 · answered by Eltohn 2 · 0⤊ 0⤋
i dont think so u can just open up savings account but u can take that at any time
2007-07-09 20:39:29 · answer #5 · answered by Preppy Prep Girl 4 · 0⤊ 2⤋
Heya,
Check out this little article. Remember to pay 'yourself' first!! http://www.helium.com/tm/456815/articles-there-which-great
2007-07-13 19:14:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
cram it in your mouth while praying for lockjaw! :)~
2007-07-09 20:06:42 · answer #7 · answered by Anonymous · 0⤊ 2⤋