I need to save money?
I want to actually put as much money as I can into a savings account. My goal is to save up as much money as possible in the next two years. Do you have any good ideas or tips? Any help is appreciated! Thanks!
Public Comments
- An interest bearing savings account for starters... though it won't help too much over only two years, but it's good to have. Also, make some sacrifices.
- Don't spend money on anything you don't absolutley have to have to live. Food is ok. That neat nail job, not so good.
- don't spend it...
- Cook your own food every day, brew your own coffee and bring a bag lunch to work. It's amazing how much you can spend on convenience food in one week.
- Yeah I absolutely have a tip, it takes a lot of effort, but it's worth it. For one week write down everything you buy, EVERYTHING next to everything you write down put the word WANT or NEED. Stop buying the want things for a little while not forever just until you get your finances under control. Now make another list of all the needs and go item by item and see how you can save money on each of them even if it's just a few cents it all adds up. Look at things like buying in bulk, buying store brands of things, generic clothes etc. If there is something you really want make that a goal to save enough besides the amount you are saving already to pay for that thing in cash. Don't use credit cards either they are a trap. Good luck I can see your mind is in the right place =)
- Create a budget for yourself. Have a column stating your take-home pay (after taxes). Write a list of monthly expenses that you absolutely need to spend money on. Any extra money that you have left over, put into a high interest account that you cannot access from your banking card, this way you are not tempted to spend it. Also, look for an account that takes a few days to transfer money back into your spending account, so that you are less likely to dip into the savings fund!!
- First stop the "bleeding". When you pay a little for this, a little for that, on stuff you don't really need, it adds up.
- something my mom told me and it helps - pay yourself first... trsf money from your checking to savings when you are paying bills... and then forget about it being in there. even if it's only a small amount, it adds up and if you treat it like another bill, it won't get eaten up by the frivolous spending we all do....
