Ideas on how to save money?
I'm 24 year old female. I have bad credit and I cant get a bank account at all. I have been trying to save money to so I will be able to pay off the debt that I owe. I have a car payment but keeping my car by the skin of my teeth. I try to save money but it just isnt working I always run out of money before I get my next check. I make $15 and hour and I work full time. Any Ideas on how to spend less and save? Fastest way to get out of Debt? I have paid off some things but still have a lot more to go. Thanks!
Public Comments
- If you're like most people you don't have a written budget in place. Like most people you really have no idea where your money goes. Your money controls you rather than you controlling your money. Get yourself on a written budget. List essentials first like housing, food, utilities. Then list your bills. Include a savings category. Include a small blow column because everyone blows money. Spend all your money on paper. 1. Save a 1000 dollars emergency fund. No sense tackeling your debt if you go back into debt when Murphy comes for a visit. 2. Get on a written budget. 3. Pay minimums on everything but your smallest debt. Pa minimum plus extra on that. When that one's gone roll that money to the next smallest. And on and on.
- The best way to save money is not to spend it. With that being said , it is hard to save, to pay off debts. I have two children around your age, one saves really well, the other is like you , a lot of debt. You have to put yourself on a strict budget. I am telling you , it is the only way. You can not , go out to eat, movies, until you pay off debt. The fastest way to pay off debt is to take it one bill at a time. Pay as much as $10 more on a bill. Soon it will be gone ...Good Luck!!
- Here are some ideas: 1) Go on a financial "diet" and don't buy anything. I paid off my card by going for two years without buying things like magazines, take-aways, taxi fares, expensive drinks in bars, CDs, DVDs, coffees, etc. 2) Look for a job that you can get to without the car, if it's possible. Then you can sell the car and that's one payment off the list. If you can't move the job, could you move to cheap accommodation near your work and get rid of the car? 3) Do as much overtime as possible: you'll earn money, and whilst you're at work, you can't spend it. 4) Always cook from scratch and eat vegetarian: it's much cheaper. Do things like making yourself a massive pot of say veggy lasgne, then freeze what you don't eat to have another time. 5) If you get into social situations where you end up spending money out of awkwardness, like buying rounds of drinks in bars or expensive presents, just come clean with friends, tell them you're broke and agree that until you've paid your debts off, you'll buy your own drinks and not exchange presents. It all sounds a bit miserable, but you'll feel so good once you've done it. Hope that helps!
- You need to sit down with a budget. Make list of all your bills, when they are due, when you get paid and approximately how much you expect on each check (I would guesstimate on the low end to be on the safe side). When making a list of you bills, examine where you might be able to cut some corners. Cable is an unneccesary expense. I miss mine, especially during football season, but you have to make some sacrifices. Clip coupons in the local papers. It might be 50 cents here or a dollar there, but in the long run you'll save money. Snowball your bills. Whatever debt you're paying, once it's paid off, make like it's still a bill you have to pay and either put that money aside for emergencies, or use it to pay off another debt sooner.
- Saving $$ to pay off a debt? Why not pay off the debt instead. In order to pay off your way, the saving or investment must be good enough to do. Btw, its possible to get a bank acct (or maybe a credit union acct) ...just keep shopping.. CU accts may be the right choice for u.
