Any tips on saving money??

Why does almost everybody is having a problem saving money? Back when I was in High School, a classmate of mine started writing on the board. She wrote "SAVINGS = ALLOWANCE-EXPENSES" She also told us that the formula she wrote is the formula for saving money. She emphasizes savings by puting it in the first position meaning savings should be prioritize rather than expenses. Let's say you got your allowance and you decided to keep the 30% of your allowance and save it. You should have disciplined yourself not to take the remaining 30% and only spend the 70%. You should think that the only money you got is the remaining 70% of your allowance.

The hardest part about saving money is that you can never tell when you'll need something. What I mean is this. It's easy enough to predict your daily expenses, i.e. food, clothes, entertainment, rent, etc. and then to allot your money accordingly. Where most people trip up and "splurge" is during times of emergency. For instance, if your car breaks down, and you don't have enough for an immediate replacement, you'll have to take cabs, or rent a car. It's often these unplanned for expenses that drain your bank account. Sure daily expenses can be really high. And, theres no reason not to think in frugal terms. But, if you want long term financial security, you need to set aside a special fund of money just for emergencies. You might have a seperate savings account for medical or car emergencies; unexpected moving expenses or even an unexpected pregnancy or birth. Just be sure not to touch this money except in cases of real emergency. You can set up a fun money account in a plain jar on your counter-top. Every time you come back from the store, stick your change and spare dollars in there. Then when you want to splurge on games or downloads or just have mad money for the mall, you won't have to dip into your real savings. Also, watch out at holiday time, not to go overboard with spending. Before you hit the malls or stores at holiday time, set a budget and make yourself stick to it. And, then only carry that amount with you into the store. Saving money can seem tough at times. But ultimately it allows you to be in control of your own future. Best of luck on your money saving venture.