How to save money?
Iam trying to save money. I do not have much income but my expenses are less the way I live. I woud like to find a trick where I can save money dollar by dollar every day and look at them every day and not to touch them no matter how desperate I am for money so that one dollar added every without spending it. Putting them in a bank is good but cashing out is easy. Even cds are easy to cash, even bonds are easy to cash, I tried giving it to my friend who can hold money for me in his account but I was wrong. Temptation has been a problem not for wrong things but for necessities.
Public Comments
- u have to be strong. set a goal..(i want a _____) put that money in the bank forget about it when u see something that u want say if i get it i wont be able to get ______ be strong tell urself NO
- CD's maybe easy to cash but you pay a penalty for early withdraw. This is your best bet, I too was a complusive spender until I started to purchase CD's and you'd be surprised how the money starts adding up.
- I have saved my way for years. Here it is: You live by a budget, if you have to, track every penny spent, and why. Open a free checking account. Don't carry cash, unless it is $ten or less. This becomes your PUT AND TAKE account. Using the debit card, you can track your spending. Annalise you spending habits, and quit buying stuff you don't need/want. Get a savings account: this becomes the first line of defense of saving. Transfer amounts out of checking, as you can, ALONG WITH a monthly or twice monthly automatic transfer. Finally, a second savings account in a smaller bank you can't just get to any time you break down and wanna splurge. I use a credit union that is twenty minutes away from me. This gives me time to think before I break into it and spend that money. This account is PUT AND KEEP. I transfer on line into the PUT AND KEEP when I know I can and in a responsible amount. You need to think about the temptation spending: what did you spend that was so damned important? Do you feel good for spending it? If you want to save you can, if you want to be foolish, aren't you doing a good job? Saving is a life long good habit, that truly pays off. One last thing, look into an IRA: 401k or Roth. If you take out the money, there is a penalty. If you leave it in, in 40-45 years you probably will be a millionaire. No kidding.
- Open an ING Direct Account. Have $20-100 taken out automatically every week from your checking account. After 1 year, you would have saved $1K+ for 20/week or $5K+ for 100/week. If you want to cash it, it takes a little effort. So you might not be tempted, unless it is an emergency. Plus, it is about time to learn some self-control.
- I believe you need some tips to save money. Check this blog. This will provide some tips to save money and how. http://selfimprovement-success.blogspot.com/
