How do you save money better?
I would like to start saving more money something my boyfriend and I r not very good at! Currently r bills r about 3,500 a month and r yearly income is a little over 6 figures...most of which is earned by my b/f...however we cant seem to save more than a few thousand if that any suggestions??
Public Comments
- A really great way is to have your bank set up an automatic debit so that they move $100 per pay check over to your savings. That way you don't have to think about it. If you haven't already read it, go buy Rich Dad, Poor Dad. It is a really great book and explains how you should always pay yourself first (put money into savings) as you will always find ways to pay bills but you never find a good way to pay yourself.
- Pay yourself first. Setup automatic contributions to your company retirement plans, as well as automatic deposits into a savings account from your checking accounts. Treat this money as off limits, even when you think it would be a good down payment on a new car. If it is in your checking accounts you will spend it. As for the rich dad, poor dad recommendation, Kiyosaki is a bit of a snake oil salesman, he made his money off the sales of his books, but he has no documented success in the real estate ventures he pushes in his books. Recently he's actually admitted that his Rich Dad never existed and was made up for the book. He also recently took a challenge on TV to help someone make money, he lost money and said "our best learning comes from our failures" Search on the web, you'll find that Kiyosaki is not the person to trust when making your own financial decisions.
