Any methods for saving money fast?

Question

I am so bad at saving money, but I have to save up about $500 for my upcoming birthday party.. Any effective methods for saving?
I earn around $200au per week..

Answer 1

As long as you spend less than what you earn and have a personal budget (that includes savings) you can never go wrong. Try the envelope system. Label a few envelopes with categories out of your budget; entertainment, BIRTHDAY PARTY, food, gas, etc. Fill each envelope with however much you want to spend for the month (or week). Whenever you need to make a purchase, pull money out of the appropriate envelope. It's a simple, easy, and almost foolproof way to limit your spending and save money.

Answer 2

In order to seriously start saving for your birthday, you must have an action plan in place.

For me, the easiest method I have found (saving up for a holiday) is opening a high interest, online savings account. The best thing about this account, is the high interest rate you earn. They are designed for internet and financially-savvy savers, who are looking to manage their savings online with lower fees. In the end, you receive the better rates on your savings because there are no bank fees.

You can set this up so you can automatically transfer funds, from your main account into your online savings account. You can even request to transfer a specific amount per week, fortnightly or monthly, so there is no need to deposit money at the bank. I have account with RaboPlus which provides me with a high level of online banking security, plus a massive interest rate.

If your from australia you can read more about it here:

Answer 3

Dear Shaina

It would really help, if you would tell us how much time you had to save the required funds.

Regardless, eliminate daily non essential spending, e.g., eating out, movies, and save what you didn't spend. Consider deferring purchases, you were planning to make, again saving what you didn't spend.

Also, are there any things you have, you don't really want, that could be sold on ebay?

Larry

Answer 4

put it or give it to where you can't access it b4 your birthday,,, give it to your mum or dad,, or get another pt time job..