Saving money is difficult, what are some effective ways to save and not feel the crunch in everyday living?

Most people live payday to payday. A lot of people have ambitions of saving money for a rainy day. But that never happens because of this expense or that expense. Especially for people starting out what are some ways to save money, meet daily living expenses and not feel broke?

Public Comments

1. I am college student and saving money can be hard but I found a way that is good for me. I have my check directly deposited in my account but also have 10% of that check deposited in a savings account with a totatlly different bank. With no atm card or anything so this helps me.
2. Have your pay check automatically deposited to your account. Ask the bank to pull out whatever you want to save and move it to a savings account. If you don't see it in the first place, you won't miss it. Good luck
3. I TAKE MY CHANGE EVERY DAY AND PUT IT INTO AN OLD WATER JUG..I USE THIS FOR XMAS GIFTS I WAS SURPRISED TO SEE HOW FAST IT ADDS UP..LAST DEC. I HAD OVER $1000.00. ANOTHER WAY IS TO TAKE JUST $5.00 A WEEK FROM YOUR CHECK AND PUT INTO SAVINGS...IT NOT MUCH BUT IT DOES ADD UP AND WHEN YOU GET IRS TAXES BACK I USUALLY PUT THIS INTO SAVING TOO..GOOD LUCK
4. Have it taken directly out of your paycheck before you ever see it.
5. You need to live below your means. Here are some ways to do that. 1. If you go out to lunch every day, try going out just once or twice a week and brown bag your lunch the rest of the time. Put what you would have spent on lunch in a box. At the end of the month, take this money to the bank and deposit it. If you are eligible for a ROTH IRA, open one and put this money in it. A Roth IRA is never taxed. In an emergency, you can withdraw your contributions (not any earnings, though) without penalty. If you are under age 50, you can put in up to $4,000 a year. 2. Never spend your change. Use paper money to pay for items. At the end of each day, put this change in a box or jar. Use this money to pay extra on credit cards or to fund your Roth IRA. 3. Whenever you get a raise, put half in savings (or Roth). You've been used to the smaller pay. The raise gives you an opportunity to save. By only saving half, you will still feel the extra spending power. 4. If you have credit card debt, pay it off as soon as possible. Pay off the highest interest card first. Do not charge anything that isn't required to maintain your home (redecorating is not maintenance) or to let you do your job (car repairs, work clothes). When you get out of credit card debt, make sure to only charge what you can comfortably pay in full when the statement comes. 5. Many stores have a clearance section. Do your shopping there. Try making a game of getting stuff you use at the lowest price ever --- or even for free by matching sale items with coupons and rebates. You've set yourself an admirable goal. I hope these suggestions help.