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i don't make a whole lot of money whats the best way to save?

i make about 650 every two weeks. after bills and all, i have about 200 left what is this best way to utilize this money?

9 Answers

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  • 1 decade ago
    Favorite Answer

    Have 10% of your income automatically deducted from your checking into a savings account. It may seem like you don't have enough to do this but trust me, after a month you won't realize it's missing. It will pile up and gain compounded interest and GROW. Everytime you get a raise or move to another position be sure your savings account is receiving 10%. That means you PAY YOURSELF FIRST. That is a basic secret amongst millionaires especially the ones who started where you are right now. As your balance increases - start looking for money market funds with higher interest rates. (over 5%) Always look for NO LOAD Money market Funds. No Load means NO FEES.

  • 1 decade ago

    Well when I was out on my own that is close to what I made and I got by fine. I didn't have cable, but I'm not much of a tv watcher anyways. I didn't have long distance on my home phone, I bought a phone card in case I needed to make a long distance call. The easiest thing to say is make a list of what you have and decide what you can do without. Then put the money you save from eliminating those bills into a savings account. It will really add up. Good Luck.

  • Anonymous
    1 decade ago

    If you are asking how to invest, you can open an online stock trading account. Ameritrade comes to mind, but there are many other similar companies. You could also put it in a savings account. You won't get filthy rich from the interest, but the $ will be safe.

  • 1 decade ago

    Write yourself a check for 10% at every payday! Put the money into a saving account until you have enough money to buy a CD...

    Read Suzie Orman's Books!!! And watch her on cable and PBS... she is the smartest person I have read on the subject!

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  • 1 decade ago

    do lots of research for the best interest. Open an online savings account. Look at fees and minimum amount to leave in the account, before they charge you. Also check out how much you need to open an account.

  • 1 decade ago

    Don't spend it.

  • 5 years ago

    Fill Surveys Get Paid : http://onlinesurveys.uzaev.com/?uJLr

  • Anonymous
    1 decade ago

    Invst in fixed deposit

  • Joe L
    Lv 4
    1 decade ago

    Send it to me.

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