I have a problem with saving money and this has come to my mind that I never get anything that I can turn to and say that it cost my money and all I buy is lots of sweets that makes my room full and makes it look like a candy world.I SERIOUSLY NEED A SOLID PLAN A WAY TO MAKE MY MONEY GROW AND T SAVE FOR THE DAY MY BABY COMES!
redwine
Favorite Answer
Have a certain amount deducted directly from your bank account everytime you get paid. Move it into an account, bank, savings, mutual fund, brokerage account, whatever, that you do not have an ATM card associated and it is a pain to get access to. tba
?
There are many ways you can save money. People usually spends money on really useless things, when they can decrease their spending. 1.Cut down eating out too much, drinking, smoking, and look for low tax areas. 2. Find cheaper ways to commerce to other areas. 3. Saving money on savings account is not really good. Bank interest rates are barely in 3-4%. Inflation happens every year (3.66% this year). So, your money won't grow much. 4. Real Estates are pretty much the safest thing. There is no way for the price to go down too much. However, its a long term invest. 5. Stocks are easiest way to make money and also the easiest way to lose money. Think carefully when investing in a certain company. Do some researches and study the economy. 6. Try to also raise your pay by earning a better degree or having a secondary job.
Greg S
First thing you need is a distraction, like a book or going for a walk or something like that. Also start small with savings, maybe $5 a paycheck put it away save it and stick with that amount if you start to notice that you have extra money at the end of the week, bump up that amount to $10 dollars. Make a game out of it see how much money you can have left over at when you cash your next paycheck. Direct deposit is great as well, out of sight, out of mind.
DearAbby
Do a personal audit of your spending. List all the things you spent money on in one month. Once you have the list, you can see what things are necessary, and which things were indulgences. Figure out what the amount of money you need in a month for the necessary things (like utility bills, mortgage/rent, etc), and the amount you will have left for discretionary spending or saving. Don't completely cut yourself off from buying things you want all at once, but definitely don't wait to take the first step in managing your finances
Kiran C
Automatically and out-of-mind. Have a small percentage of your income deducted each month into an account where it is difficult to withdrawn from.
If you are using credit cards, consider using only cash. Individuals are more cautious when using cash.
Congrats on the baby.