how can i save money but at the same time survive?
Well i want to save money up for like a car or for when i move out but i need to buy lunch for work and then other stuff so how do i do this.
Public Comments
- The best thing to do is to start with how much you want to spend for a car. Let's say, $1800. Now, how much time do you have to save before you more out? Let's say one year - 52 weeks. Now, all you have to budget for saving is $34.61 per week. So, if you're going out for lunch everyday, that probably $5 - $7 for each meal. If you start packing a lunch, you could cut that in half...a savings of $17 per week - half way there. Now, think about cutting down on one other habit - expensive coffee drinks, video games, movies. Don't cut these things out - just limit what you are allowed to spend on these items each month. And don't go over that amount. Finally, don't spend one dollar bills - put them aside until you have 100 and then trade them in at your bank for a 100 dollar bill - put that someplace safe - away from your thoughts. I've paid for three vacations, a couch and a nice digital camera just by never spending singles. Good luck!
- The primary key is to understand that no matter what you're making now, there's someone in your neighborhood that's living on 10% less. You have to learn to live like that person. Understand your income after taxes and understand your expenses -- the fixed monthly ones, the variable ones that go up and down, and the discretionary expenses. Write them down and get a very solid feel for how the money comes in and how it goes out. Then determine where your leaks are and plug them up. And for the love of all that is holy, don't buy a new car. American propaganda convinces young people that they have to buy a new car -- you don't. They're *horrible* investments. Think of it this way: If you like to drive new model cars, you can buy a new vehicle at $25,000 and sell it four years later for $15,000 and buy a new one (ignore inflation for a moment), costing $10,000 for the 40,000 miles or so -- that's 25 cents per mile. Or you can buy a used $15,000 car and hold onto it for eight years, selling it for $5,000 after 80,000 miles -- that's 12 cents per mile. That's a 13 cent per mile difference -- every damn mile you drive. Every 8 miles costs you an extra $1! Buy used vehicles with 30-40k miles and let go of the fallacy that your personality is defined by the car you drive. It isn't. Your car is just transportation. Doug
