bluebell
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Have money deducted from your wages at source and sent to a savings account where it will be earning interest for you - which you won't get hiding it in a tin. You'll hardly miss it if it never comes into your hand.
Note your expenditure daily. You will identify unnecessary spending when you see it on paper.
Use what you have already instead of buying more. Yard sale or ebay for things you don't use now. Reuse or find another use for items. I had nice bedroom curtains which didn't match new decor. Now reinvented as tablecloth in a different room.
Instead of always going out with friends for entertainment, invite them over to your place to chill out with a DVD and BYO. Find out what is happening locally that you can attend for free.
Don't use credit card - you will lose more on interest charged than you are saving otherwise.
And check your receipts. I bought something yesterday, reduced price in my supermarket, but today notice on the receipt that they charged me full price. Keep your eyes peeled. I'll be doing that now too.
Good luck!! |
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hot_lil_navy_wife
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i think we should all just give up and move to mexico and start over. its obvious they dont want their land anymore. no i am just kidding. i would try to save a small amout every paycheck. my husband and i do 5% every payperiod. you have to stay committed to not pulling it out of savings even when it is tight, which is hard to do with the mortgage companies robbing us blind and the oil tycoons using my money to pay for their private jets and desert oasis's. |
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Knowitall
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Everyone is struggling at the moment
Income - expendiure = saving
I assume Income is static
If expenditure is rising - ask why - if there are no luxuries you can cut - then look at the basic everyday expenses and see if that can be done cheaper.
Lose the credit cards and pay by debit and aim not to borrow anything.
Sounds obvious - but thats how I am managing at the moment - just had to keep a strict tag on all incoming and outgoing cash.
Good luk |
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NEB808
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Some people spend more when they either have paper or plastic. As in, people spend more with cash(paper) or debit/credit cards (plastic). It maybe that you spend more with paper. Also, you should probably set short term and long term financial goals for yourself. Write those goals down and then figure out ways on how to achieve those goals. Say you want to save $10,000 in 2 years. How would you go about doing that? How much would you need to save every week? Also, maybe you are spending to much on wants instead of needs. People have spent 25-50 dollars a week on starbucks coffee, that can really add up. You should take a look at your wants and see what you can live without. Hope that helps. Check my profile |
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Andrew D
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Keep a diary for a week itemising every penny you spend and on what, then look over it all and see where the savings can be made |
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cleopatra1978
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put it into a savings account |
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kylie
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it's usually the small things we buy that end up costing the most.
like, a coffee here and cookie there and etc. so just try and cut back on those things and you should see an improvement! :) |
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oxo*skye bbes*oxo
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give it to a trustable member of youre family in a money tin dont let them tel u where it is but ask them to keep track of the amount inside and give it to u when youve got what u wanted! hope this helps ;) |
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Mad as a Cat in a Bomber Jacket
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Try saving coins in a jar, soon mounts up.
Good Luck hunni. X :-) |
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Susan K
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What worked for me was writing down everything I spent money on for a couple of weeks so I could "see" where my money was going. The only way to save money is to spend less than you earn. You should divvy up your weekly paycheck into five categories:
1. Fixed expenses (rent/mortgage, electricity/gas, cable bills, etc.).
2. Non-fixed expenses (stuff that doesn't come up the same $$ every month - food, gas, etc. but you need to have in order to make a living)
3. Irregular expenses (expenses that crop up two or three times a year -- like manicures, clothing, insurance, taxes)
4. Savings (short term: for a trip or a special thing, long term: for your retirement, or emergency fund: for big expenses that pop up)
5. Fun money (no explanation needed).
It looks like a lot of categories, but the fact is that you spend in all five anyway. Now, you just have to figure out how to only spend within the dollar amount of what you make. #2 is the easiest place to trim. Don't cut out #5 or you'll give up trying to organize your spending. You need some fun! |
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Phoenix
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When you get paid set up a standing order for the £50 to go straight into a savings account, an ISA is tax free and gives you instant access as well as a great interest rate while it sits there waiting for you to spend. also no card so it makes it less accessible at cashline.... |
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swflsteelerfan
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Budget analysis to always remember from each paycheck:
35-40% for housing
10-15% for bills such as utilities
10-15% for food
Any thing left over is for your enjoyment.
The first two should always go into a checking or savings acct, never on hand such as in a cookie jar. The temptation is too great to borrow from it, then never have any left. |
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pink hearts3 ♥
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I know exactly what you mean, living isn't cheap these days, I've been trying the same thing cause I wanna save for a new car, I'm trying my best i've just got to forget its there and cut down on buying things I don't really need. Maybe this will help you too, try and forget about the savings tin and lock the money away and forget about it, then see the results once its built up. Also don't forget to cut down on things you don't really need or want. Hope this helps! |
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ae.scottx3
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well. prices will rise and rise.. and people are going to have to accept that. the demand percentages are going way high and the population of the world to. theres only so much to go around..
people are beginning to be very lazy and not doing there jobs... (farmers) so theres less crops.
try buying only whats absolutely necessary for a while. and maybe you will hvae more money in your hands.. do extra work at your job.. overtime.. and weekends.. if you don't already work them.
or try finding a better job.
cut out coupons when you go grocery shopping. and try buying the cheaper brand of things or the cheaper thing at the time/ whats on sale.. and only waht your going to need that week or that few days.
hope i helped. |
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hermit
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record what you buy weekly to see where it goes
I save 50% of earnings; you may have to earn more money as you can only save if your expenditures are less than your earnings |
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Jesse01
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Make packed lunches for work - and take dilute juice in an old pop bottle - you'll save at least a tenner a week.
Do on line shopping - although you pay extra for the delivery, you don't get side tracked by the clothes and special offers. |
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