2007-11-27 12:44:52 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
As said above, figure out a budget of what you NEED to spend. Remember that having unlimited text messaging and internet on your phone is not usually a need. It is also a lot cheaper to prepare your own meals, so maybe pack a lunch and make dinner. Once you have figured out what you need to spend, figure out what you want to save. Then see what is left. If you feel that you can still live a little after putting aside savings and have money left over, maybe consider putting more into savings.
It is also a good idea to take savings out before you spend anything. You could do this by setting up an automatic transfer to savings. I also bank at a credit union that allows you set up a CD where you can add money to it every month. This helps me to restrain myself from spending the money since there is a fee to take it out early. As far as I know, my institution is the only one in my state that does it, so I don't know how common it is though. This also gives you a better return on your savings.
2007-11-27 13:03:17 · answer #1 · answered by moonman 6 · 2⤊ 0⤋
The best way to save money is through a company sponsored 401(k) plan. Not only does it gain money tax free, but a lot of companies will match a percentage that you put in. That is free money! And once you start, you cant touch it until you are 59 1/2 without incurring a penalty. So you are forced to save.
2007-11-27 21:39:02 · answer #2 · answered by stocktongrad2004 1 · 1⤊ 0⤋
If your working and your company offers a 401k plan sign up for automatic deductions. You will be taxed at lower rate. Taxed income is after the 401k contribution, means lower tax. Learn to live on your take home pay, forget that you have money in your 401k and you will be amaze how fast it will grow. Also your employer will match what you put into your 401k. All free money to you.
2007-11-27 22:17:29 · answer #3 · answered by Goodhead 3 · 0⤊ 0⤋
Try to budget your money better. Get what you need, not what you always want. Try shopping at an Aldi's, safeway, save-a-lot, etc. instead of walgreens, jewel-osco, etc. GET A JAR AND START PUTTING CHANGE IN IT! Try not to use your change too much, and collect as much as you can throughout the day and then put it the jar. Change adds up pretty fast. If you really want that change jar to add up, try adding a one dollar bill every day. It really speeds things up.
2007-11-27 21:21:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
figure out your bills .. the how much you make every week... then out of whats left put a percentage in a savings account that you never take money out of... and every pay check put the amount in
2007-11-27 20:53:32 · answer #5 · answered by LC 2 · 0⤊ 0⤋
spend less
2007-11-27 20:49:20 · answer #6 · answered by jesse d 2 · 0⤊ 0⤋
yeah, be CHEAP
2007-11-27 21:13:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋