How do i save my money?

i just can't seem to save any money. i just spend on stupid stuff. it's like i have no control and i don't know what to do.

The answer is simple. Treat your savings account like a bill and make a payment every month. My wife and I have been doing it like that for 35 years and it still works fine.

Try the envelope system. Label a few envelopes with categories out of your budget; savings, entertainment, food, clothing, gas, etc. Put however much CASH you want to spend per month in each envelope. When you want to make a purchase, pull cash out of the appropriate envelope. It's an almost foolproof way to limit your spending and save money. PS: Shred your credit cards.

Try this

step 1....put your credit cards in a freezer bag and fill it with water and put them in the freezer. It won't hurt the cards, but by the time they thaw out your immediate urge to buy will be tempered with your logic.

step 2...Only carry cash. It's really easy to swipe a card and make an "invisible" transaction, but it becomes more real if you have to pull paper money out of your wallet.

step 3....don't spend any $1 bills. Put them all in a jar to save. Doing this helps in two ways. The obvious is that you are saving money by tucking the ones away. The other is that you will be less likely to buy a soda, or random impulse items, if you know you can't spend the rest of that fiver after. It helps you budget.

You need to set things up so that you save automatically. It's actually pretty easy to do.

If you're working, go to your bank and set up another bank account. Make it a passbook account, preferably one that earns a lot of interest. This will encourage you to keep the money in there, and reward you for doing so. Being a passbook account, you actually have to go into the bank to access the account. You can't use an ATM card. This makes it harder to spend. Even better, if you find it very hard to control your spending you can go for a Christmas club account. Then you can only access the money for a few weeks near Christmas.

Go to your employer and ask them to put at least 10% or more of your income into this account. Don't touch this money. It's your emergency savings, to be used as you would a credit card if you have an emergency and no available cash.

If you leave things set up like this for maybe a year, you'll have a nice little nest egg. Then you can see a financial planner and get some advice about investing it. Then you'll really be making some progress.

Don't worry about living on a little less money. Most people get used to it in about two weeks. If you get a bonus or a raise at work, just tip this extra into your savings. You'll never miss money you didn't have to begin with.

Having your employer put the money in the bank account for you saves on bank fees for you, which could eat into your savings. Also, it makes everything automatic. You don't have to think about it. It just happens. And you get that great "I'm saving money!" feeling. You'll be in total control.

It's called 'paying yourself first' and it's a good strategy for people who find it hard to control their spending impulse.

Here's some more tips.

Don't shop on an empty stomach. You'll buy more stuff you don't need. Also, shop around for things. If you're going to make a purchase of an item above $25 (like carpet cleaning, new tyres, or a new blender) get at least 3 quotes or prices and compare. Go with the cheapest. If you follow this rule, you can also say "Well, Bob at XYZ Shop said he'd give me the same product for 5% less. Can you match it?" In instances where getting the item means driving across town or has another associated expense, this can save you money because you choose where you shop. If someone pressures you into a sale, as in "This blender is only on sale for the next 15 seconds and if you don't make a decision you'll miss out!" then tell them that you always run decisions like this past your 'trusted advisor' who happens to be overseas and can't be with you, and you'll get back to them in the morning. If they really want the sale, they'll be compliant. If they get aggressive, leave. Your time is important. When shopping for a new fridge or a car, this can save you from being pressured by sales people.

Pay cash for everything. If you don't have cash, you can't buy stuff. Cut up your credit card. Keep it in your house just in case you need it in an emergency to make a phone payment (pizza doesn't count, I'm afraid). If it's cut in two, you can't use it at the shops, but you can use it over the phone.

Get a plastic snaplock bag and put $10-20 in it. This is your spending money. Blow this on whatever you like. You'll be a far happier budgeter if you can enjoy a six pack of beer or some new cds every so often. Don't go overboard with this. It's a good strategy to keep you motivated, but you need to set limits.

If it's really hard to curtail your spending, just don't go shopping. Avoid the shopping centre. Set yourself a time limit at the supermarket and stick to it. Get out of there as soon as you can. You should take a list, and have a set route through the store. Avoid those temptation aisles like the confectionary and soft drink aisles. They'll lead you to the financial Dark Side. When you feel the urge to shop, go for a walk somewhere where there isn't shops, or watch TV or something. Have at least 3 activities you can do instead. This will help you stay in control.

Control of your finances is vital. It doesn't mean you're a bad person if you can't magically control your spending. We all have blowouts sometimes. Just have a few strategies up your sleeve, and set your savings up automatically, and you'll be in control with no effort at all.

If you want more tips, email me. I don't mind at all.
Best wishes.

You must have self control.

Why not try having money deducted from your paycheck and directly deposited into a saving account. Don't touch the account once the money is there.

I hate to sound like Miss Obvious but you have to gain control. There is nothing that will fix your problem except learning to control your spending.

Listen to DebtSlayer. The envelop system is great. I paid off my student loans and both of my cars that way. It took but it was worth it.

Also, I suggest starting a savings account.or CD so you can't get your hands on the money you want to save.

I used to have friends give me their money until they had enough to start an account or buy what they needed.

You may want to look at why you spend your money the way you do. .
Are you spending because you are stressed, depressed, etc.S tart asking yourself "Why am I buying this?' "Do I absoluntely need it?"

What am I feeling when I buy these things. And how can I have those same good feelings without having to spend all my mone.y
You can get a handle on this situation.

Ok the simpilest way i know is read a book like Robert Kiyosaki's Rich Dad Poor Dad, or the book God's plan for your finances. The books are the best place to start. Implement what you learn from them and things will start looking up trust me. life changing books

I keep an Excel spreadsheet of all my spending and have it broke down into categories. You can see where the money is going, and also see what things you can cut back on.

if you have no dream that you need to save money for you probably will never be able to save, find a goal

Will all this stupid stuff that you buy help you when you are 65 and broke? Do you want to live in an apartment for the rest of your life and watch your friends going on vacation trips and you are eating cat food in a can? You have no fear over money. Read Jim Cramer's latest book Stay Mad For Life and you'll learn the basics.

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