do you save money every month?

United States
April 22, 2009 11:43am CST
I have been trying to do this but it is so hard to do. I have a savings account but it only has like 28 dollars in it. I know having some money saved is better than nothing. So I am curious do you save money every month? If so how much do you save and please feel free to give any tips on how you are doing it. Thanks and happy posts everyone.
8 people like this
48 responses
22 Apr 09
Hi montrying2makeit, Well I have asavings account and whenever I get paid from mylot, it goes straight into my account and it will stay there till I can spen it on what I have wanted for a long time. Tamara
2 people like this
• United States
23 Apr 09
Thats what I was thinking about just saving mylot money for my savings but I have not done that yet. Nice tip and thanks for responding to my discussion. Happy mylotting to you as well.
1 person likes this
@ajithlal (14569)
• India
17 Apr 12
It is always great to save money in life because we might need it in the future. I think it i a good idea to save the myLot money in the bank account.
• United States
22 Apr 09
I'm not working right now,I've been laid off, but when I was working I put money into my savings account every week. How I did this was by taking all the money that I made from my over time and put that in there. You would be surprised at how fast that will add up. If you don't work any overtime just make sure that when you cash your check that you put some in to your account before you have to spend any of it, and try not to withdraw back out. I also do this with my Income tax return. By doing this I have seen a huge difference in my saving account
• United States
23 Apr 09
I only work online but I see what you mean about saving thanks for responding to my discussion and happy mylotting as well.
1 person likes this
@naureos (14)
23 Apr 09
Yup, £150 every month for a year at a time, i then choose to blow it all on something i want badly, or it can go into an isa. I usualy spend it all. I think one of the best options is for a certain amount to be automaticaly be taken out of an account each month and put it into a seperate account, that can't be touched until it expires. Fullproof, but lack of extra money irritates on occasion.
1 person likes this
• United States
24 Apr 09
cool thanks and yeah to save to get what you want is a good idea too. Take care and happy mylotting as well.
• Philippines
22 Apr 09
Yup, as much as I can, I try to save some money from my salary and deposit it to my savings account, maybe 1/4 a month's salary, that is. I wanna save for the rainy days. Like you said, it's better than having no money at all. I've experienced situations before where I badly need some money and I've nothing and it was really depressing so I said to myself that it wouldn't happen to me again and I would use my money wisely. That's why I'm saving. I also wanna have some business in the future, that's another reason why I save and hope it'll come true.
1 person likes this
• United States
24 Apr 09
Yeah this is why I want to save too. I want to have some money to back me up if needed. I think I am gonna make more of an effort to save and I have a lot more people to respond to so take care and happy mylotting to you as well.
22 Apr 09
I am not working at the moment I am a student so there isnt any money to save - in fact i am living off savings right now; i used to save back when i was working full time, and that has proved to be a godsend since i have gone back into education! in the UK it is very worthwhile having an ISA but now we dont get a very good interest rate compared to a year ago... But its still better than not saving!
1 person likes this
• United States
24 Apr 09
Cool I guess the savings can come in handy. You must have had a good chunk of change to live off of it. That is what I need to do. I have read in books and online that you should have at least three months worth of expenses saved in case of an emergency. Take care and I hope for the best for you.
@gerard09 (75)
• Philippines
22 Apr 09
Yes. I save half of my salary to my bank account. I'm saving up for my family's future most especially for the future of my son. I would like to give him a bright future. give him a nice education, hassle free life. Good thing my sister Gracie, introduced me to online world. I never imagined that there are great opportunities online. The earnings i will be making here will go directly to my son's savings. i am planning to put up my own blog because i have heard that my sister is making lots of money through her blogs and i want to earn big as well.
• United States
24 Apr 09
Whoa half of your income? That is great I wish I could do that but than I would be living off of nothing. I guess if I really lower my monthly budget I could that but I would have to get rid of a lot of things that I have. Take care and thanks for sharing and taking part in my discussion.
@xiaouie15 (290)
• Philippines
22 Apr 09
Yes I am saving money every month. Everytime I received my salary I always make sure there is something I'm gonna be depositing in my bank account. I always calculate how much I will be spending each month because eliminating debt is the quickest way to free up some bucks. I also trim down my expenses sometimes and reassess my savings goals.
1 person likes this
• United States
23 Apr 09
Thanks I need some savings goals too. I think I am gonna start taking so much of my online earnings and start sticking some of it in the bank. Take care and thanks for taking part in my discussion.
@fasttalker (2797)
• United States
22 Apr 09
I have three bank accounts. A checking account and a savings account and a christmas account. Every payday (weekly) $5.00 goes into my Christmas account and $10.00 goes into my savings account then the rest goes into my checking. I use my Christmas savings at Christmas and the other savings account is never touched. I've been lucky enough that it has been there for 7 years and I have never withdrawn from it although I've wanted to several times! I don't have a retirement plan where I work and a finacial advisor friend of mine tols me this a long time ago. When I reach 45 I am supposed to up that amount to $15.00 and then $20.00 at 60 years old. Hopefully this will give me a nice nest egg for retirement. So far so good anyway! LOL
• United States
23 Apr 09
Sounds like you have a good plan fasttalker, I wish I could say the same for myself but that is what I plan on doing is starting to save more instead of spending. Take care and thanks for taking part in my discussion.
• United States
22 Apr 09
i have a savings account and thats where we put money for our vaccion and then i have my own account just for me and then we have a checking account that we pay bills out of and the things needed for the house then my husband has his own account for whatever he wants plus my kids have there account so they can save money to buy what ever they want or save it for when they get older, i save all my change , i try to get things that are on sale, plus i don't tell my husband how much is in my account because he likes to spend money lol but i have trouble spending money on myself thats why its easy for me to save most of the time.
1 person likes this
• United States
23 Apr 09
Lol sounds like me with my boyfriend I try to be honest about what I have in my bank account but you know I also need to be honest too. Take care and happy mylotting to you as well.
@itsme_cha (504)
• United States
23 Apr 09
yes i do save some money every month, even though its a little amount from what i make, i think saving some money is a good idea for emergency use as you dont know when you have an emergency. its a smart thing to save some money from your pay check. i am working part time right now so i save 20 percent of what i make every month. happy posting!!!
@chulasa (69)
• Philippines
23 Apr 09
I try saving money as much as I can. I think I only have around $100 so far in the bank and I haven't added any money for quite a long time now. I do have some saving here our house. The bank is a bit far from my house I kinda save it here if I happen to get the chance to come by the bank I'll deposit them. I read in an article before the best way to save is to keep your change. Treat the change as your savings... coins and small bills. Don't spend it if not needed. I tried it and works for me. At first it's like a drag to carry coins in your pockets, purse or bag. I put them in my old fish bowl and didn't realize that it files up. When I thought it was time to take it to the bank, we counted it and almost came up about a $100. I haven't counted my file of coins right now, this one goes to the bank again, who knows if I can make around $200 (I wish)...
1 person likes this
@scheng1 (24742)
• Singapore
23 Apr 09
When I was working, I budget $1000 for living expenses, the rest of the money stayed in the saving account. No matter how much I earn or how much bonus the company pays out, I do not increase my living expense. There is a lot of things I love to buy but I know I will not appreciate them once I bought them. So I do not spend money on it. One useful tip is to look at the price tag of a bag or shoes, for example $24, then decide that spending this $24 must give you an item that can last for a year or two. If you think that the item cannot last so long, then do not buy. What for spend $24 to buy a bag that lasts only 3 months? That is equal to $8 per month of usage value. If the $24 bag lasts for 2 years, then the usage value is $1 per month.
• United States
27 Apr 09
Hmmm I like the way you think about buying certain items. I never really looked at it in such a way. I know saving money can be done and I realize 1,000 month income can be lived on. I am working my way to that a month and maybe I should do as you. Live off that and than the rest is for a savings every month. Great tips and happy mylotting as well.
@scheng1 (24742)
• Singapore
27 Apr 09
Hi, that is actually the accounting concept. I learnt it in finance and accounting lesson, seen the accountant does the budgeting in the office and just apply the concept to my life. I mean, when you are thinking of buying a sofa, you will think of the price of teh sofa, but the accountant also think of how long do you want the sofa to last. Because accountant has to factor in depreciation. So if the sofa is expected to last 5 years, she will divide the cost into 5, and depreciate it in 5 years time. That is a very good concept, I apply it in everything I buy, provided I bring along my brain!
@sanuanu (11238)
• India
23 Apr 09
These days, no but when I was in a job, I use to save some penny every month so that I could use them in my bad time. I had Something around Rs 30K in my account but from next month I will start saving again.
• United States
24 Apr 09
cool thanks for taking the time to respond to my discussion. I wish I could save that much money. I need to start spending less and saving more! lol.
1 person likes this
@sanuanu (11238)
• India
25 Apr 09
Hmm, again cool thanks. Okay I can live with it now. Well, as I suggested, I have no money these days and suffering from 'no money in savings' problem. LOL
@ajithlal (14569)
• India
25 Apr 09
I also think it is better to have some money rather than having nothing. I am right now jobless and hope to get into a job very soon. I had a job before and I got terminated from my job. I never thought I would get terminated. I would have saved more money than I had saved before if I know I would reach such a situation. I always thinks it is great to save money. I am planning to save more money after I get into a job in the future.
• United States
27 Apr 09
Thats a great way to look at it. SAving money if later is better than never. I think that if I set my goals right I can start being a saver too. You never know what will happen and saving is a good thing to do in such of an emergency. Take care and happy mylotting to you as well.
@kusanag1 (50)
• Indonesia
23 Apr 09
yes i save my money in my pilow
• United States
27 Apr 09
In your pillow? Well I guess it is a somewhat safe place. Thanks for taking part in my discussion and happy mylotting to you as well.
• Philippines
23 Apr 09
I am also trying to earn and save money as much as possible. I just started lately earning online and got paid by a two sites. I don't have a big savings account, I only have $20 on it and I am also trying to add more money into that savings. "Little by little does the trick"
• United States
27 Apr 09
I agree every little bit of money saved counts. I am gonna try this next month to save some money even if it is a little. I guess even small goals can be accomplished too. Thanks for being postive and happy mylotting to you as well.
• Philippines
23 Apr 09
I try to save more than 10% of the money I get every payday as a rule. I had to go to great lengths just to make that possible. I refrain from eating out and I choose the cheapest rides available to get to and from work just so I could save even more. I cannot tell you how important it is to save as much as you could especially in these very trying times. You could just as easily wake up one day with your bills mounting in your face and very little money to pay them and still pay for the necessities. It is good that you have started saving for the rainy days. I agree with you, no matter how little that 28 dollars seem to you, it is still a good start. Just keep at it and you will never regret it! Good luck to you!
• United States
24 Apr 09
Cool I think 10% would be a good goal I think. I guess that will be my goal since I know that is something that I know I can do for sure. Starting next month I am gonna take 10% of what comes in and set it to the savings. Thanks for sharing this and happy mylotting to you as well.
23 Apr 09
I try to save money every month but, at the moment I save very little! Once I finish paying my car though I plan to put the amount I was paying of that each month in my savings instead so then I should hopefully be able to start growing my savings! x
• United States
27 Apr 09
Cool sounds like you have a plan. I know about paying on the car thing and I will never do that again. I have no car at the moment but for me to buy one with credit is not something I want to do, I hope you reach your goals and happy mylotting to you as well.
• China
23 Apr 09
Well,i'm a typically moonlite,every month i got my salary,i told myself i'll keep some in my bank account,but i broken down when i got out shopping.I can't insist the desire to buy something i like even that one is not practical.My own dorm have many things that unpractical but i don't want to throw,i've regret that why i buy them when i saw these things.Now i'm trying to insist to shopping,i hope i can succeed.
• United States
27 Apr 09
I see what you mean I love to shop as well and I think that is one reason why I have trouble saving every month. Hopefully both of us can strap down on the shopping sprees and starting saving more like we should. Take care and happy mylotting to you.
@happymommy3 (2013)
• United States
22 Apr 09
My husband is the only one who works, I'm a full time stay at home mom. Most of our savings a month come from me and my work online through gpt sites and more. I have my paypal payments sent straight to my savings account and we do not touch that money. Another way we save is we try and take atleast 20-30 dollars out of every check he makes. We figure we might as well do something good with that money because if not we would probably end up just blowing it on something like a fast food restaurant or something we really don't need.
• United States
24 Apr 09
Cool seems like some good ideas. I cannot save all the money I make online because it is the only job I have. My boyfriend is unemployed at the moment so every little bit I get I must use. i think if I start off small saving that would be a good start for me. Thanks for responding to my discussion and happy mylotting to you as well
1 person likes this