ckm1956
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First, decide how much you want to save per month. Then, have your bank automatically deduct that amount from your checking account and placed into a savings or money market account.
After a short while, you won't "miss' the money.
You DO have to discipline yourself not to touch the savings. |
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blueink
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Read Dave Ramsey's "Total Money Makeover" it's great. After implementing his plan my husband and I were able to pay off all of our debt (except mortgage) and acquire a nice savings. It took discipline but you will be amazed at how much money you spend on NOTHING. Once you cut that out, the book tells you how, you will be amazed at how far your money goes. |
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qman
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Budget at the beginning of the month. Spend every dollar on paper. If it's not in the budget, you don't buy it. |
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Michael A
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If you work and you don't save money, you are ruined (unknown). If you work and save few coins every week, you are one of the richest and happiest people on earth!
Sit down, think, on what are you spending your monies? Deny yourself some few things to reduce your expenditures and join the world's happiest people. |
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Empress Jan
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if you have direct deposit on your checks, set it up that 10% is automatically taken and put into a savings account. Pretend it's not there. It's still your money. LEARN to live below your means! And when doing your checkbooks, keep it in balance! |
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＼(o￣∇￣o)/ Hi!
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Its difficult isn't it?
I cant tell you anything, but they http://www.wisebread.com/topic/personal-finance
can.
I gave you a link to the topic of Personal-Finance, but check just wisebread.com they have a lot of interesting articles.
That's one of the blogs I read. And it helps. Share it with your wife.
Good luck. |
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Elisabeth R
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put all ur extra change or cash you have in your pocket at the end of the day and put it in a jar, u'll be surprised how much you have when you really need it! but dont go to it just for fun keep it for emergency's!!!! |
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Judy1
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The best thing to do is to have some money deducted from your paychecks and put directly into a credit union or savings account before you ever see it. And if you get a raise, have part of the extra money put into savings - you aren't used to having it, so won't miss it. |
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Common Sense
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You're not going to like this answer;
Be Mature...................
I don't say this to be mean. But allowing yourself to be a victim of your bad spending/savings habits is ridiculous.
Here's an idea you could have thought of on your own (if you weren't a victim)....................................
Open a on-line savings account and arrange for $200 a month to be drawn every month. After a few months increase the amount (and so on). Do so as you put together a spending/savings plan. Don't be losers. Be realistic. Control the things (as an adult) that you can control. This is certainly one of them.
Good morning. This is your wake up call for the rest of your life. |
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Leo
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try making a budget out of your earnings, and make provision for savings, it will really work |
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HardCastle
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First off... build yourself a monthly budget. There's a great 11-page article on how to do this located at... http://www.jack-of-all-trades.org/?p=59 .
Then, you'll be able to control your spending... and control how much you can save each month. Then, religiously sock away that amount. |
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adelturk
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You can make lots of money if you know how to invest your
money properly.
I can give couple of tips if you like to invest in stocks that is
where I do have lost of experience
Good luck |
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wealthkeeper
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payroll deduct
first into anty company sponsored plan
then get a ROTH IRA |
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wilderwriter
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First, you need to find out EXACTLY where your money is going (e.g., do you both eat "out" virtually every meal? particularly at nice places? do you take vacations several times a year? feel that you need to dress well, in the latest fashions? see all the latest movie releases?). Once you have pinpointed where the money is going, you can decide how much is absolute necessity and how much is "discretionary." Decide how much money you want to start saving each month, and for what. If it's for retirement, you need to start 401K accounts (if your employers offer them) or IRAs. That way, you'll save while getting added tax advantages. If you want to save for future purchases or real-world NEEDS, you'll need to plan on saving even more. Once you decide on a target for a REGULAR savings amount (notice the importance of the ongoing natue of saving) you need to arrange for that money to be taken away automatically, BEFORE you get your hands on "take home pay." This is sometimes described as "paying yourself" befor paying any other bills.
Then you need to start looking at ways to cut back on spending - learn to fix meals at home and leave the going out to dinner for special occasions, even to the point of brown-bagging it at work most days. Look for little changes in habits that will save pennies at a time but add up over the year (join a coffee fund at work instead of stopping off for the $5 cappucino at Starbucks every morning; turn off lights or the TV if you're not really using them; turn down the thermostat in winter and up in the summer and dress accordingly; re-watch videos you own instead of renting new ones every time; eat at the dinner instead of Ruth's Chris) |
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dreamgirl
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It's as simple as "paying yourself first" which is nothing new. You need a strict budget...write down what you make versus what you HAVE to spend. Then figure out what is left over. Now subtract what you'd REALLY LIKE TO to spend and see what is left over.(be realistic) Whatever is left over after that should be put in a savings account every single paycheck. It's just a matter of discipline. Pretend like the savings is a real bill that has to be paid. |
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steve.c_50
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Yeah. Make a budget for the month on paper. That will tell you where your money is going. Do you both drive nice cars with nice payments? Is so, there's part of your answer. |
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Gone fishin'
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Make a budget and stick to it. Include a set amount to save and a set amount to spend on yourselves so you don't feel neglected. |
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troop there it is
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stop going out to eat, do your own haircuts, catch the city bus to work, stop buying clothes every week, definitely stop buying those expensive shoes, don't give too much to charity, use cloth diapers instead of store brand (very expensive)get rid of your big truck and try a hybrid( save a lot on gas) And start visiting your family more often for a nice home cooked meal |
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shines56
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You both make a good living so you have a good chance of saving money than those who are living on pay to pay check.All you have to do is discipline yourself about spending what you can't afford. So saving from your both weekly pay to another account besides your savings & then invest it to some managed fund with the interest is quite marginal of 14%.We have done that & you can withdraw if you need emergency money for something urgent matter. When it comes to discipline is just a matter of sticking to your budget.You've got all the allowances to stretch your dollar by investing in some share market on a low risk funds. |
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Lemon Twist
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Yeah - I had that problem. First up can you agree whether one of you is better than the other with money? (A hard one).
If so, that person should become the 'controller' (but giving the other visibility all the time of where the money's going ... as well as a say).
Now - a budget. What do you REALLY need to spend to live and pay off debts. Work out what you need to pay each month for the next three months. It may be ugly but don't panic.
Often you'll look and go - "crikey, our credit cards make up 50% of our expenses" (it was 58% for me at one stage). If that's the case, cut them all up and attack each card (this is a form of saving), starting with the smallest and/or most expensive (in interest rates and repayments). Wipe it out and turn your attention to the next smallest/ expensive.
This may take time but at the end you'll have money to actually save. If you're not good with this, put it into something you can't touch like term deposits.
All that sounds boring but I did this for the last year and wiped $55,000 off my debts and now I'm struggling for ideas on what to do with my money (I'm working on that though!!) |
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rs
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There trick is: In more than Out. |
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wiseolguy
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Have it deducted from your paycheck and put into savings the forget about it |
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Westport
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Only spend cash. For some reason it is harder to spend than using a credit card. |
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captainyowser
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You have two options depending on hoe desperate you are.
1) Prostitute your wife, little harsh.
2) See a financial advisor, more realistic and have far more knowledge than you, unless of course you are a financial advisor? |
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Silly World
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Automatic withdrawal from your accounts into China based mutual funds. Don't save, invest! |
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monty
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Stop spending it! |
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