retirement oz


I spend all my salary every month, How can I manage to save some money?

Public Comments

  1. When you get your paycheck, pay YOURSELF first. Meaning, take 10% or whatever amount you want to sock away and immediately put it in a savings account. Once you see the money start to grow, you will be motivated to save more. Everytime you want to go spend $10 on a coffee or lunch or some other thing, put that money in your savings. I have been doing this, and not have I only seen how much I was spending on piddly things, but actually have savings now!
  2. You need to cut down on your monthly expenses. As the first user said, the rule of thumb is to save 10% of every paycheck. Take advantage of your 401 (k) plan if your employer offers one. Try taking out a part time job to increase your income.
  3. Act as though 10-20% of your money isn't actually yours, any you 'Spent' it by putting it away in a savings account. Then, make sure that you don't touch this money. That way, you don't spend it.
  4. You've been given some great advice and you should take it. Have you ever considered that living paycheck to paycheck, for some people, can result in being homeless in a three months? It's a extremely risky way to live.
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