how to save money

United States
April 10, 2007 9:07am CST
its so hard for me to save money before i knew it its all gone.. like now my salary just came the other day and i have only 200$ left on my wallet! lol! not even enough to pay my bills! how do you save your money?? any suggestions??
1 person likes this
5 responses
11 Apr 07
Best way to save money, is that you DON'T KNOW ABOUT IT!!! You should have at least 10% of your salary "electronically" dedcuted and transfered to a seperate savings account with each pay check or pay wire and adjust your daily expensis on what remains. By doing this each month you will forget about that amount you have saved and by that you would have saved without knowing it. I do that every month...and I don't even know the account number. But at least I know I have saved for a rainy day.
• United States
11 Apr 07
thank's for the idea! :)
@jennifer611 (2502)
• United States
10 Apr 07
If I keep my money on me (in my purse or wallet or whatever) I know that I will spend it. but if I put it in the bank and its not on me then it lasts alot longer lol... when I get my check I usually keep just a little bit. like enough for gas and a little extra for emergency and then the rest go's in my account.. if its not in your pocket then your not thinking about it as much. its not as easy to get to.
• United States
10 Apr 07
even if i put it on bank i always use my card so its useless for me.. i really don't know how control my expenses.. thanks for the response :)
@Giabelle (59)
• Philippines
31 May 07
There must be discipline first and the right frame of mind. If you are not serious about saving then you will never get to save. Setting aside a fixed portion of your income will do the trick, have aseparate bank account for savings only with high yield interest and avoid withdrawing from it if possible and forget you have extra stash of cash so the interests will be compounded, you'll be amazed how your money grows. You can also sell some non-performing assets like old stuff you don't use anymore, set-up a garage sale or sell it on line at e-bay. Money generated can go to your savings account. Lastly, easier said than done but it's worth trying, buy only the things you need postpone a little later you "wants" list, whenever you are tempted to buy something always ask this question is it important? is it urgent? will I survive life without this? or it's just a fancy? Happy saving:)
• Philippines
31 May 07
well... i guess being wealthy is in the state of the mind.. if you learn how to control and trust yourself with money, and if you know how to be responsible for your money, then you have higher chances to be wealthy... :D my advice: keep record of your expenses, spend for your needs.. if you have extra money, spoil yourself ocassionally.. always bring money so that you will feel prosperous.. and don't attach yourself too much with money
@toonatoons (3740)
• Philippines
11 Apr 07
first thing you need to do is to force yourself to save. as soon as you receive your salary, take a portion of it and keep it before you start paying off your bills. this way.