Good Ways to Save Money?
I'm totally a money spender. I just got my first full-time job out of college in October. I've never had a steady, salaried paycheck before. I've been spending like crazy. Mainly on lunch everyday, coffee and dinners out with friends and socializing (like the movies and other activities) What are some good ways to save money? Obviously, I have to stop getting coffee in the mornings and start bring lunch to work. But, what are other ways to save money. My boyfriend and I want to move intogether sometime in the coming year (around August or so) and then get married (which would require saving for a wedding) What are some great ways to save money and make it grow?
Public Comments
- I am terrible at saving but...if you have direct deposit you could have them put in so much into savings say $40.00 then you wont miss it. I would still do the morning coffee and start bringing lunch and not so many social events during the week. have a weekly budget of $50.00 and have that as cash money and when the cash is gone no more fun until next week and if you have money left put it in the bank and start your new week $50.00 worth a shot.
- Well the best way to do this is to create a budget. Figure out how much you spend on food, gas, entertainment, etc. and figure out which ones can go. Another good way to save up, although it is admittedly a piecemeal method, is to set aside 20 dollars from each check, and deposit into a separate savings account that you do not withdraw from unless it is absolutely necessary.
- great, You have just answered your own question. Yes, Stop buying th e $3.50 coffee almost everyday and bring your own lunch. that's what i do and I am able to save money just fine, there is people at my work who buy their lunch and go to starbucks everyday and spend about $10 everyday.
- One of the best things I've done, in addition to starting a budget, is using coupons since I tend to spend more in groceries (especially now that I'm taking my lunch to work several times a week). Several grocery stores double or triple coupons. With the right coupons you can sometimes get things for free or next to nothing. If you're pretty organized it's an easy way to save money without a lot of effort. Other things that might work: - For one month track your spending in a spreadsheet so you can see where your money is going. Update it daily or every other day. - Use the spreadsheet as a basis for a reasonable budget you can stick to. Include things you enjoy so you won't feel so deprived. Go ahead and budget yourself to buy coffee once or twice a week or go out one weekend a month. Don't forget to budget for savings. Always pay yourself first! - Put that savings in a money market account instead of a savings account. MM's have higher interest rates and are still easily accessible. While you're at it, bank with a credit union if possible. They have higher interest rates and charge fewer fees. Good luck!
- 1. Don't spend so much. Try buying one less coffee or one less meal per week and go from there. 2. Save automatically. Money can be tranferred automatically into a savings account to banks like Citi, HSBC, ING etc which pay 4 - 5% a year.
