how can i be cheap?

Question

lol i know itys not something you may hear everyday but i cant help myself i spend every cent i have i do have a bank account but every time i need money i go and take some out

when i turned 18 i received a trustfund for 7500 and believe it or not 2 days later that was GONE !!!!!!!!!!!!!!!

i need help how can i stop spending every cent i have

by the way im 21 now

by the way i dont go out only to like movies rarely with friend im more of a computer gamer

Answer 1

A lot of men get chintzy when they get married. You could try that. Either that or only buy what you NEED, not the things you just want.

Answer 2

Make a list of what you want most in the order of priority.
Say you want:
1. To be a self respecting adult that never asks parents for money again.
2. To someday own a home that your future children with think of as home.
3. To retire without poverty.
4. To send future children into the world with some help with college and a first home.
5. To be able to help your elderly parents should they ever need help.
6. To show off how much money you have to friends by driving a car with high payments.
7. To dress in the latest style
8. To travel around the world a little at a time
9. To not worry about your future if you should become disabled or widowed or have handicapped children.
10. To have the latest electronic toys.
11. To stay healthy

Then every time you have a want compare it to the list, you want a widget? See what that fills on your list, not there don't buy it.
Every cent you waste is something you really want being delayed or stopped cold. Your list can only be made by you and prioritized by you.

Answer 3

you should open a cd, money market, or even a roth think of your retirement. yes you're young, so am I, but I believe once we are older we will not have social security benefits. If you open a CD now, just think of how much money it'll make... try a 6 month CD and see how much you earn in that time frame... wait, you said you already spent that 7500 didn't you? Well, if you didn't you should look into investing. If you did and just want ways to be cheap, just be cheap :) if you go out to eat dont get a value meal stick to the dollar burgers, also, do you always have to eat out? clothes, why do you need a complete outfit? How's a pair of pants here and there? Instead of going to see a movie, why not rent one? Stay home, don't go out as much... there's plenty of ways you can be frugal... and have fun doing so :)

Answer 4

Put it in CD's or Certificate of Deposits.
there are cd's going from 6 months to anywhere like 10 years.

Maybe you should look into the 6 month and 1 year options at a bank. AND DONT OPEN AN ATM ACCOUNT IF YOU WANT TO SAVE MONEY.

Answer 5

WOW... you need to put yourself on a budget... its not gonna be easy but you have to do it. Keep everything in the bank! Only give yourself a set amount of cash-only allowance each week, or even make it harder and make it a set amount each month!...Plan ahead make sure your bills are paid first and then what you NEED not what you WANT (big difference). I was the same way you are until I moved to NY and realized how important not spending was!! The only real suggestion is you have to be strict with yourself and if you want it to work you cant cheat!

Answer 6

Do you want to die broke and single? (Print this as big as you can and place it in your room and everyday when you wake up you have to see it and read it)

Check your pockets and write down how much money do you have that morning and write everything you buy or sell and at the end of the day you should be richer.

Example 1:
You start the day with $10.00
You end the day with $0.00
You are not richer.
You are broke.

Example 2:
You start the day with $10.00
You end the day with $9.00
You are not richer.
You are not broke anymore.

Example 3:
You start the day with $10.00
You end the day with $11.00
You are richer.

You need to be like in the example 3 EVERYDAY OF YOUR LIFE.

You also need a budget for expensive things (Things worth more than one day of salary like shoes, clothes, Halo 3 and so on)

Answer 7

Perhaps changing your outlook a bit. Challenge yourself to buy a mutual fund and continue the challenge to build it to $1,000 by a certain date. When approaching that date set the next goal. You will be amazed at what happens to your desire to spend once the fund starts to build.

Buying your future is alot more fun and far more productive than the other things that you buy.

Answer 8

You might try U.S .Government Series I Savings Bonds. You can not cash them for a year. By that time you may like the fact that you are saving money and keep doing so.

They cost $50.00 up to $10,000.00 .

Answer 9

ask a trusted adult to become your "conservator", in other words, to control your money legally for you and put you on a reasonable "allowance". This will teach you financial responsibility by force since you admit you cannot do this yourself.

Answer 10

just dont go out, stay at home with your comp, eat yesterdays pizza to save on food:))