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Tips on saving for future?

I have been in the work field since I was 16 years old (now 22) and I really have not saved money. I have been on my own before and had an apartment with someone. Was able to manage just fine. Now I am struggling. I have the greatest man in my life. He has been there for me through thick and thin. Through my dads death and everything. I recently have become very upset because I do not have money saved up or an emergancy fund. (nor does he) I recently got a job which is only part time. He works full time plus overtime at times mostly during spring and summer. I work as a Cashier for the mean time while I do my schooling for my CNA. He works as a construction worker. He frames houses. Makes pretty decent money. Before he met me, he was doing okay with money had a few thousand saved up, thought it was pretty good for a fresh 18 year old straight out of high school. After my father passed away it started going downhill, he got suspended on school. But needless to say we are happy with each other. Always feels like the first day I met him. How can we save up and keep building? We want to have our own place, another car (at some point in time), emergancy fund (in case anything happens), our Wedding, future children (because I do not want to have kids and struggle as I grew up) etc. I basically want to save save save for anything for the future. I want a good future. I just opened a checking account and have my checks deposited in it. I also have savings at that bank. I have another account at a credit union which is savings.

Thank you in advance for sharing tips! :)

2 Answers

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  • ?
    Lv 7
    9 years ago
    Favorite Answer

    Think like a saver. Nickels matter. If you are being charged a service fee at the bank, combine the bank accounts and CU account to whichever one is better for you and has less fee. Do not carry balances on your credit cards. Do not bounce checks, or incur late payments. Cut and use coupons. Stop unnecessary expenses (expensive cable TV, expensive cell phone service,,,,) when you can without incurring a nasty fee.

    Live healthy to keep doctor costs and insurance costs down.

    ... and give yourself time to grieve your dad, and get settled into a routine. Then you can flatten out some of the harder expenses to bring under control.

  • 9 years ago

    The first step is to create a reasonable budget and stick to it. Once you have one ironed out, you can pinpoint areas of expense that you can reduce or eliminate so you can add to your savings.

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