What do you do to save money?

@p3ks626 (6550)
Philippines
February 9, 2010 9:15am CST
I have been taught by my mother to save money since I was young. I had a piggy bank before and now I already have a bank account. As I grow older, I discovered that there are already so may needs and wants that sometimes I forget to save money. I am trying to budget the money my husband and I earn from our jobs and sometimes I think it would be better to save more. How about you? What are the things you do to be able to save money?
1 person likes this
23 responses
@sid556 (31006)
• United States
10 Feb 10
Hi p3ks626,I try to save any where I can but I'll tell you it is very difficult. I pay attention to all my spending and don't buy things that I don't need....at least I try not to. Mostly it is with the groceries that I'm able to save. I also buy clothes 2nd hand.
@p3ks626 (6550)
• Philippines
11 Feb 10
This one I need to do too. To pay attention! =) Thanks!
1 person likes this
@sid556 (31006)
• United States
11 Feb 10
I keep a "spending diary". I write down everything I spend and what it is spent on. At the end of the month, I know just how much was spent on gas, groceries, snacks, etc etc. I challenge myself to spend less in areas that I can each month. It does make me aware of my spending that can be avoided. Things like coffees at dunkin donuts and things like that add up more than you would think.
• Philippines
10 Feb 10
I also have my own bank account, that is apart from my payroll account, and I try to save money on that.. Though it's really hard for me because I want to buy a lot of things. Hehehe. Now I started going back to the classic way of saving, the piggy bank. hehehe. Instead of coins though, I put in notes, never mind the interest that I'm supposed to earn in the bank.. I just think this is really the best way to save. Hehehe.
@p3ks626 (6550)
• Philippines
11 Feb 10
Actually, I have a atm but I dont place money there anymore because its so easy for me to withdraw the money in there. =D I think I'll just get a bank account. As you said, I am still going to earn for the interest.
• Philippines
11 Feb 10
Hahahhaa. that's the downside of ATM, it really is extremely easy to get the money in there, and it's not advisable for those who are trying to save.. I have thought of opening a passbook account in the bank, but the banks here in the city doesn't offer them anymore, and i'm still trying to look for the nearest branch that offers a passbook account.
@summer77 (415)
• Philippines
9 Feb 10
I have also been taught by my parents to save money but I wasn't that a follower child, but then growing up makes me realize about the reality of life. SO, what I did is to stop being a compulsive buyer as much as possible. I buy only what is needed and it is just very seldom buying the wants. I also have savings account. And I also have lil biz, at least I will have some lil asset just like what I am doing right now. I'm not just doing social networking but also earning here. lol
@p3ks626 (6550)
• Philippines
10 Feb 10
I was thinking of having my own business too but I dont exactly know yet in what kind of business I should engage to because I think I need to study first the pros and cons of having business so that every thing would go well. What do you think? Do you have any suggestions about any good businesses? Thank you! =)
@summer77 (415)
• Philippines
10 Feb 10
I am not that expert when it comes to business. I am self-employed. My biz includes making projects for other people and i get paid, and also selling products of others and get commissions. And I am on my way to join a network company called AMway. I'm processing it and my upline is my uncle so I am his downline. there's nothing to lose with joining network marketing company like AMWAY because you really don't have to put a lot of money investment for there is only one time free membership. you earn money as a distributor and also by referring others. =D If you like to be inmy line then just tell me. =D But maybe you are living in the other country. I still don't know about the rules, maybe you can try other company there.
@KylaDilla (137)
• Malaysia
9 Feb 10
I'm a saver. I love counting money and I hate spending my money. My mum taught me the value of money by buying my siblings and I our own piggy banks. Every once in a while, we'll be able to take out all the money and count it. It was sure fun to count so much money, even if they are just pennies. I usually save at least 50% of my money in my bank account, and I don't have an ATM card. If I did, I'll probably end up withdrawing my money every time at the mall! (oh no!)
@p3ks626 (6550)
• Philippines
10 Feb 10
I am actually planning to get an ATM card and a passbook to save in both options but what do you think is the best thing to do? Choose only one option or both? Thank you! =)
• Malaysia
10 Feb 10
To me it is important to have both at hand. I don't have an ATM card because I fully supported by my parents and I am technically still a teen that lives under their roof.. You never know when you need money and an ATM card would be the best way to withdraw money as soon as possible. A passbook will allow you to see how much you have saved and withdrawn, its good for keeping money records. So my advice is get both. Have a nice day!
• Pakistan
9 Feb 10
I have managed a organizer which works to save the money. I divide the remaining days of a month on the money in my pocket. The result guides me that what is the range of my expenditure. so I keep my self in the range of the amount, and hence I manage to not over flow the money and by this way I arrange to save the money.
• Pakistan
9 Feb 10
I can send the sample of chart I made to control my expenditure.
@p3ks626 (6550)
• Philippines
10 Feb 10
Manage and organize. I have to apply these in my budgeting. =)
@thebeave (31)
• United States
10 Feb 10
The most important and effective method I have found is to pay yourself every month before you pay anybody/thing else. Treat this payment to yourself like it is the most important payment you make every month because it is. I put $200 each month into my retirement account. Sometimes it gets a little tight but I always find a way to pay the other bills. I am 22 years old, when you have this much time on your side there is no telling what the possibilities are. I plan to be retired by the age of 40 and this is a real goal of mine that I am working very hard for. I am raising a 4 year old step son and I have a little girl due any minute so it does get tight but I don't care, I pay myself EVERY SINGLE MONTH and treat that money like it does not even exist. Like it was mentioned, it is also very important to keep a detailed record of where every one of your pennies goes. Though this may seem tedious, if you have enough discipline to do this you will not believe how much money you can free up from your budget. Everything takes a little time and effort but it will pay off 100 fold in the future.
@p3ks626 (6550)
• Philippines
11 Feb 10
I like that! Pay myself first! =) I'll do that next pay day! =)
@dobstar (56)
10 Feb 10
That is a very common question I think. In my case when I want to save up some extra money I usually get a part time job at evening and weekends. It is not easy, especially at this time of the global economy situation but it is not impossible if you really want to do it.
@p3ks626 (6550)
• Philippines
11 Feb 10
I was also thinking of getting a part time job and save everything I am gonna get in there. I think its a good too but I dont know what kind of part time job I should go into.
@rumshie (186)
• Philippines
10 Feb 10
im a saver before but now, as i grow up.. :( I ALWAYS FORGET to save because of FOODS. :(( i really really love to eat (though im not fat). BUT this time, i'll try to save again. :)
@p3ks626 (6550)
• Philippines
11 Feb 10
I have the same problem with you. I also love to buy food. We both need self-control I guess. lol
@23uday (2998)
• India
10 Feb 10
hi friend, I will save my money it in my bank account. I am saving from my childhood onwards. Every month i earned here and job i save some money which helps to me when i required i will take from bank. Saving money to me helps all my needs to purchase. have a good day.
@p3ks626 (6550)
• Philippines
11 Feb 10
I am actually planning to save the amount that I am going to earn here.=) Thanks for the tips!
@ipcarpio (19)
• Philippines
10 Feb 10
well first, i must be determined on what will i save for, i mean i must be motivated. then i list down all the things that badly needed attention and the things that are not. in short, i prioritized things.
@p3ks626 (6550)
• Philippines
10 Feb 10
I am also going to save for something now. =)
• China
10 Feb 10
Just as "Attack is the best defence." So in my opinion,"Earning is the best saving."
@p3ks626 (6550)
• Philippines
10 Feb 10
Earning is the best saving? I think this is new to me. So what you're trying to say is earn from other resources aside from my primary job? =D
• Singapore
10 Feb 10
I actually have a few bank accounts in different banks to save in money in. Most of the time, I don't really look at bank statement but rather I try to make more money by investing and earning and cut down on unnecessary expenditure.
@p3ks626 (6550)
• Philippines
10 Feb 10
That's what I wan too. Invest and earn. I just think that I need to manage my resources well so I will be able to do things that I wanna do.
• China
10 Feb 10
I think we always like to buy all kinds of things.but most of things are not necessary for us.Maybe we can save money from these.for me I always like to buy things not suitable to me and put there and forgot them .It is waste.
@p3ks626 (6550)
• Philippines
10 Feb 10
That's right, buy only the necessary things. =) I should keep that in mind.
@ghieptc (2525)
• Philippines
10 Feb 10
I think you have a passbook to save your money & a debit card so you can budget your spending. I think both will benefit you on saving your money in the future. You can use it for emergency situation like maternity, accident and child education.
@p3ks626 (6550)
• Philippines
10 Feb 10
I am going to do this one too. =)
@kaylayoe (295)
• United States
10 Feb 10
Well, I'm still in high school so when I get allowance I put half away and use the other half for spending money. I set goals for myself and limits. I try to buy things the dollar store because usually it's the same product you would generally buy from another bigger store. Those are just some ways I save my cash.
@p3ks626 (6550)
• Philippines
10 Feb 10
Its a good thing you already have that kind of mind set when it comes to saving money. Thank you for the idea.
@HansonFan (1659)
• United States
9 Feb 10
If I find something in the store that I want I put it in my basket and continue to walk around. I then proceed to ask myself if I want it, or if I truly need it. If I dont truly need it I will put it back unless I happen to have plenty of money that month and I might splurge a little on something I really want. Most of the time, though, I end up putting it back and moving on.
@p3ks626 (6550)
• Philippines
10 Feb 10
I also have that kind of habit that's why its sometimes difficult to save. I just hope that when I go to the store, the displays aren't so attractive so I wont get tempted. lol
@MrKennedy (1994)
9 Feb 10
What I do is put it all in my saver's account. I find that I am less tempted to spend money if it isn't just sitting there in physical note-form before me Also, if I have a clear idea of why I am saving, then I will be more motivated to actually save my money rather than squander it.
@p3ks626 (6550)
• Philippines
10 Feb 10
Hmmm. This is a very good idea too. I think I need to be motivated about what I am going to save for. I'd better start thinking of something. Thank you for the idea!=)
@cher913 (25893)
• Canada
9 Feb 10
i stay away from the mall and often shop at thrift stores if i need anything. we visit the library to get books and movies from there. we eat fairly cheaply, plan our meals and only shop for what groceries are needed. there are lots of ideas that will help you save money and lots of websites too. try looking up frugal living.
@p3ks626 (6550)
• Philippines
10 Feb 10
This is also one of my weaknesses. Sometimes when I go to the mall I get tempted to check out the new arrivals and I end up purcashing them. I need to overcome this to be able to save. =D Thank you!
@gicolet (1704)
• United States
9 Feb 10
Thanks to online banking I am able to check my incoming and outgoing money. Without this I'd be waiting for a month of every month to find out how much I've recently spent which usually shocks me. The best way for me to save money is to cut off my shopping urges. Sales are fun but I realized that I get so hooked on spending money on sale items sometimes thinking that I get the best deals in the world only to find out that I didn't even need what I bought! So off i go and return the items afterwards. Another thing is I cut back on buying foods that actually are not healthy to eat. Most of these junk food snacks are cheap but I don't want to spend my money on something that will kill me in the end. I'd rather spend my money on buying healthy foods than on hospital bills. Lastly, I learned how to say NO to my daughters. I used to give them everything they wanted years ago then I thought they have to earn them first. Show me good grades from school first then I get you what you want. Otherwise help me in the kitchen once in awhile and i'll give you $5 for that. lol There are a lot of things we can do to save money and we don't need to spend money to enjoy our family and things in life. Quality time with family counts the most and I think we should learn to ignore the latest technology around us. It's all but glamour in the material world. Hope that helps.
@p3ks626 (6550)
• Philippines
10 Feb 10
I am actually starting to do this now. I think it is needed that we should be smart when buying the things we should buy. Thank you for the comment! =)
@myzire72 (1157)
• Singapore
9 Feb 10
There are several ways to save money. Cut down on expenses, or earn more so that you may have surpluses for saving. The 1st option is more easily achievable. Besides budgeting, I also tend to compare prices first before I do the purchase. This is one of the sure ways to save. The 2nd option, which is to earn more - I'm looking at several alternatives where I can earn extra money at my own leisure time. For this, I've turned to the Internet.