What is a good way to save my money??
I am saving up my money so I can get something big. Though I don't know what that thing is yet I am still having alot of trouble. I currently have 80 dollars saved up in about 2 weeks. I have a bank account and I have about 2000 dollars in it but I don't want to put my money in there I use my bank account for checks or other things. I blow peoples leaves and I make alot of money and I want to know how to keep it without spending it. Today I went to many stores and was very urged to buy something. Can you please give me some tips on how to get rid of the urge to spend my money...also can you give me some tips on where and how to save my money. Thanks
Public Comments
- My friend took one of those big bottled water bottles and would fill it with loose change that worked
- Easiest way not to spend is not to hold cash in your hand. Deposit and create a savings acct for yourself where you can just leave it there and buy only with your checks.
- I have several savings accounts set up at Emigrant Direct. You can transfer money to them from your checking account and it's harder to get to the money because it takes a few days to transfer out. I use them because the interest rate on the savings is currently 4.75%. It was above 5% just a few months ago, though. I have lots of accounts there for different categories of savings -- vacation, car repairs, home repairs, clothing, etc. So you could deposit your extra cash in your regular bank account and then immediately transfer it online to Emigrant. As far as the urge to spend money is concerned...I only use cash. And I don't keep cash on hand except for grocery money. That way when I see something I really want I have to at least think about it long enough to go to the bank and get the money. Another thing that has worked for me in the past is writing down what it is I want to buy and waiting 2-4 weeks. After my waiting period I think about it again and see if I still want that item. If I do, then I will either go buy it or think about it again for another couple of weeks. I've talked myself out of many silly purchases this way.
- I can only give you advice if you are residing in Singapore. If you are really keen in wanting to know more, you can email me your contact number and we can arrange a time to share with you more. I'm in the business of investment risk management planning, helping people to develop strategies and portfolio to achieve their desired goals. No commitment but only email me if you are serious. Email: Jagspor75@gmail.com
