Do you save money each week?

United States
April 19, 2007 2:49pm CST
When you get your weekly paycheck, do you put a certain percent aside towards savings? If you, what percentage do you put away. If you don't, do you have another method for saving?
8 people like this
22 responses
• Philippines
20 Apr 07
passbook - safer with passbook than atms
i have to save from my husband's salary:) we usually put away 20% from his salary. we consider this amount as one of our bills so that we can allot for this. i deposit this amount to the bank where we only have a bankbook and no atm card. it is safer because we can't withdraw from this account unless we really intend to go to the bank for withdrawal.
2 people like this
• United States
20 Apr 07
Wow 20% of his salary, that sounds like a very good amount to be stashing away. Good for you!!
1 person likes this
@lightningMD (5931)
• United States
20 Apr 07
When we both worked we put money into savings every week. Now that I'm unemployed we just cant afford to save. We have actually exhusted the savings we did have. As soon as we get moved into our new place I have to find a job. Then we can begin rebuilding our savings.
2 people like this
@misheleen73 (6037)
• United States
19 Apr 07
We always pay our bills that are due that week, then keep a certain amount for food,gas, etc the rest go into savings at the end of the next week when we get paid again. My husband gets paid every other week and I get paid every other week. Luckily it pans out so that one of us always gets paid every Friday.
2 people like this
@darkness01 (1300)
19 Apr 07
I generally save more money than i spend, even though i have most things that i want to have. I have spent very little money this month and have most of what i earned in my bank account from last month, thats mainly because im going to be buying a new pc next month though so i have been planning and saving so that im not left with zero in my account.
@breepeace (3014)
• Canada
19 Apr 07
Well, I don't get paid once a week, so generally whatever I make each payday has to last until the next payday. I try to take a lump sum out of my month end pay and transfer it into a high interest savings account, and midmonth I have $25 go into an RRSP I set up a few years ago.
@natash121 (219)
• Australia
11 Jun 07
I dont save a certain precent or anything, I save all my 20 cent 50 cent and 2 dollar coins and my $5 notes the amount adds up really quicly, its surprising.
1 person likes this
• United States
11 Jun 07
Yes coin can add up really fast. We save our coin in a large jug and cash it in a couple times a year. We are always amazed how much it adds up to.
• United States
19 Apr 07
I don't really put a weekly amount, but I do try to save monthly depending on how much I make. My income is very unstable and I often don't make the same amount every month. Though, in the last year, it has been reasonably stable. If my expenses don't go over my income, I usually try to put in a fixed amount to my savings account. If I happen to make something extra, I divide the extra amount between my savings and my credit car. Right now, I'm trying to get as much money as possible for a new car. But, I expect my expenses to go up about the amount that I save each month.
• United States
11 Jun 07
The only time I save up money is for Christmas really. I start about this time of year to make sure we don't have to put anything on the credit cards. Other than that I feel like putting more money towards the principle on our home loans is like putting money in the bank though. In a way it's saving - especially if we want to upgrade our home in the future. We'll have that much more to put down towards the next one. I would love to have a savings account but they just isn't in our cards at the moment.
1 person likes this
• United States
11 Jun 07
Oh yeah - we also round all of our debit transactions up to the nearest dollar in our checking account. It's nice to have that safety net if we ever need it. A couple of years ago we had nearly a thousand but then we bought our house and used it all for painting and all all those extra things you end up buying when you move. It does add up over the years.
1 person likes this
@carlaabt (3504)
• United States
11 Jun 07
My husband is active duty military and pays into his Thrift Savings Plan each month, but that's really about it as far as savings go for us now. When I was working, too, we were saving more, but now that I'm not working, we can't afford to save any extra money until we get the credit cards and student loans paid off. We have a little over $3000 that we saved while I was working, but most likely about half of that will be going for things like a new deck floor, new door knobs, etc at our new house that we are trying to buy right now. We will probably wait to start saving again until we get all the debt except the house paid off, and the house down to half or less. I would much rather use the money to pay off higher interest rates than have it sitting somewhere drawing a lower one. The only exception is the money that sits in my paypal account to save up for when we have to fill our propane tank.
1 person likes this
• Hong Kong
11 Jun 07
I don't save each week because we are not paid by week, we are paid by month. Therefore I would say I have a monthly saving plan. I do put away a 10% percent of my salary as savings in another bank account (which I promised myself I won't take any money out). Besides that, I am on two insurance plans which are related to my retirement. And those amounts are directly deducted in my bank account on certain days every month. I didn't save before and now I should work harder on saving money up *smiles*.
@321633wy (1795)
• United States
7 Jul 07
I get pay check once every two week i used to make it a habit to save 15 percent each time i got my pay check.The total i save 30 percents for a month,not bad.:)
11 Jun 07
nope, unfortunately i don't :( every month i say i will... but every month i find something important to pay... so i have no savings what so ever until now :((
1 person likes this
• United States
11 Jun 07
Hahaha, that's pretty funny. If only I had that option. We're a family of five on one income in San Diego. But we have a plan in place and we're in phase 1, which is getting completely out of debt. The credit cards are cut, we're slowly starting to dig our way out of it. After that, the other phases should be easy because we are so used to having no extra money to either save or spend. Things are looking up. Walking to work, saving gas. That helped a bunch.
• Singapore
11 Jun 07
Hi there im paid monthly not weekly but i always set aside some amount of money for my kids education savings and for emergency ones too...Learning to save money is a good habit it shows thats the person responsible and is a good planner..Remmember too that savings can come in handy for rainy day..
1 person likes this
@kgwat70 (13388)
• United States
7 Jul 07
All of my earnings from myLot go into my savings plus any additional income that I make other than my job earnings. I actually have a couple of savings accounts so I am making sure that I have money for emergencies and for later on in life. It is definitely important to save money. I have also reduced my bills at home to help save money.
@beyonce03 (2331)
• Canada
7 Jul 07
Yes, I save money each week. I never put the same amount every week. it depends of what else I have to pay. I will put between 10-30$ every week. Most of the time is to pay something in the futur. For example in august, I will start saving for Chritmas :P
@KrisNY (7590)
• United States
7 Jul 07
Yes at certain times a year we do- Like soon for school clothes shopping- We also throw all the loose change in a jar and count it before we go to vacations- We are going to Niagara Falls tomorrow so I'm soon off to count it- My daughter isn't here today so the job is mine- YUK! I also every couple of months transfer money from my checking to my savings account-
• United States
7 Jul 07
I have a little taken out of each paycheck and put in a 403b retirement fund at work. Then my check is directly deposited into my savings account. That way, I don't actually handle it and am less tempted to spend it :-). Each month, I transfer enough money into the checking account to cover the bills for the month. Everything I don't spend stays in the checking account and has added up over the years into a nice little "cushion".
@mamasan34 (6518)
• United States
7 Jul 07
I do put money away very often. Not every paycheck, my checks are pretty small, and they often go to extra payments on my car, but my husbands pay after the bills are paid and the groceries are bought we do put money away for a rainy day. I know I am supposed to put a percentage away no matter what, but I haven't been able to do that recently. I am planning on doing that here shortly though.
@jade1986 (563)
• India
7 Jul 07
No, i dont get enough money to save. I dont earn yet, all i get is pocket money from parents. I spend all that i get. I do not have the habit of saving money. But when i will start earning, i will definitely start saving too. I have seen everybody doing that...