Retirement Oz - i cant save money, I have to spend it!?

i cant save money, I have to spend it!?

how can I control myself to start saving money? I really cant save even if i have 40 dollars and dont know wut to do with em ill go n spend em!! gosh!! if i continue like this , im never gonna have anything on my life, im only 21 yrs old and some of my friends save like for cars or suemthings they want, I cant save, and I do have an open account in the bank!! :( any books or website on how to control the wasting money for no reason problem?

Public Comments

Honey welcome to my world it sucks here but it is what it is....
thats how i was but i got a piggy bank type thing and made sure that I would put half of any babysitting money or money i got in it. I still have not spent any (im getting a laptop) I think it easier if you have a goal of something big you to buy with it. (a wedding dress, a tv, a computer, a car, etc.) If you get in the habbit of doing it, it becomes easier.
If you are working, get direct deposit. Then, schedule a deposit of 10% automatically every paycheck into an online bank account like those at capitalone.com, or amtrust.com. They pay about 5% interest, and if you are putting money in them every paycheck, it adds up. Since they are online accounts, it's not as easy to get to the money. Get a software program like Quicken to keep track of your bills. I get paid once a month, and at the beginning of the month, I write out all the bills (even if they are not sent until the end) and what is left is what I have to spend. Budget money for your gas, utilities, insurance, food, etc., but put that 10% away if you can. If 10% is too much to start, then try 5%. But, and this is the big kicker, don't borrow from that account unless it's for the big ticket item you've been saving for or a TRUE emergency (new shoes are not an emergency unless you have to have them for a new job, and you replace the money in full with your first check).
im the exact same way, if i have money i have to spend it so heres what to do: open a savings account in another state (you can do this online) and mail in money orders to the account (dont request a debit or atm card. Or open a savings accoutn in your state but still dont request a debit or atm card. Or get a prepaid debit card and write fown te card # and all the information you will need to load money onto it and toss te card out. This way you can continue to save but you cant spend any of the money at all until you are ready to on whatever it is that you have been saving all of your money for.
Yes there are books on how to budget your money. Visit your local library on money management or budgeting household finances. You will need to establish a budget and use it regularly. These books will have many ideas on where to start. You can start today. Only shop when you need things and use a list. Stay home more and cook more of your own meals. Do not carry a lot or cash or all of your credit cards. This will cut down on impulse buying. Limit or eliminate some gift giving throughout the year. Do not charge any thing for Christmas this year. Why keep paying for Christmas all the way to next June or July? If you receive a Tax refund (IRS and State), save it. You live without it all of this time so don't plan on spending it. Brown bag your lunch to work more. If you have a home phone and a cell phone, get rid of the home phone. Do you need more than one movie channel on your cable TV? Do not buy electronic products when they first come out. In a few years the prices will come down and they will be of better quality. There you go, I gave you some ideas to get started. Good Luck.
I feel for you and understand your problem! You are what is known as an "impulse buyer". If you have money in your possession, you must spend it even if you don't need the item. What you need first, before you try the other suggestions, is to get some counseling on how to deal with your issue. Your problem stems from a lack of security where somehow you feel that the material items you buy will make up for the void in your life. I urge you to see a therapist about this immediately...the longer you wait, the worse your problems will get and the less money you will have (causing you more problems). If you have health insurance, that will help to pay for a good portion of the counseling. If not, try your local Department of Health & Human Services to see if you qualify for low income health assistance. Try searches on the internet for "impulse buying" or go to your local library for information on the subject. After you have a handle on your spending in this way, then you can begin to learn how to budget yourself and put away what you would normally spend in a savings account. If you live apart from your parents, perhaps in your own apartment, here are a few things you can do to curb your spending on your standard monthly bills: 1. If you have from $20 - $25 to spend on the new compact fluorescent bulbs, you can save 1/4 of the amount of energy you normally spend on electricity per bulb per month and you, very well could get paid back for the money you spend on the bulbs in only 1 month. (I did this and now spend from $20 - $25 per month less than the majority of people in my apartments)! 2. If you have an electric water heater, you can set the temperature lower than you usually have it and get a low flow water showerhead that has a shut off valve so you can easily shut if off and on while showering and still retain your desired temperature. This saves the hot water so you don't lose all of it before you're done showering. 3. Use coupons every chance you can for everything from grocery shopping, department stores, fast food/dining out, etc. Many of these coupons are usually sent to you in the mail on a monthly basis. 4. If you find something you want, don't buy it the first time you see it! Go home and do some comparison shopping...on the internet or by calling stores on the phone. Sometimes you may find the item advertised for lower prices on TV or radio. Just always try to get a lower price than the first time you see it! 5. Drive slower than you usually do. I'm not advocating "driving like a granny", but if you typically go 10 to 20 miles over the speed limit, you're not only putting yourself in the position of getting a speeding ticket, but the higher the RPM's you drive, the faster you use your fuel and the lower your mileage becomes. Try to go the speed limit or not more than 5 miles over if you can help it. You're safer this way on many levels! :) I hope this has helped and I wish you the best of luck. God bless and take care of yourself!