Rachel
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No, it is not a good idea to have the money withheld so that you get it back at the end of the year because (1) you don't earn any interest on that money while the govt is holding onto it and (2) if you had an emergency, you wouldn't have any money available.
You are only bad at saving because you don't have any self-discipline. Create a separate savings account and tell yourself that you will direct deposit 10% of your paycheck in it and you won't touch it unless it is an emergency. Even if you "need" the new shoes or gadget or whatever, just forget about it and leave the money in the account. |
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SpOrTsDiVa10
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dont spend it |
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mauk
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the best way to save money.
dont spend it. |
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Pond Jumper
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no just create a seperate account for saving, and put a certain percentage of each pay check in it, and spend the rest. |
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Miss Kitty
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You could talk to your bank... many banks nowadays have automatic monthly savings programs - where it automatically takes a certain amount of money from your chequing account and sends it to savings.
You could also try little things such as saving smaller pocket change - quarters and smaller - in a piggy bank and then taking it to a bank at the end of every year and depositing it into your savings... it won't be all that much, but every little bit helps!
I don't know about your particular bank, but Scotiabank in Canada has a new option to 'bank the rest' where they bank the remainder of purchases on your Interac card and put it in your savings account (up to multiples of 5). So say you spend $7.38 somewhere - the bank will round it to $10 and put the difference in your savings.
Definitely in the end though, the people to talk to are your bank - they'll be the best at helping you find easy ways for you to save money - the easier they are, the more likely you are to succeed with them!
Best of luck! |
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Vicky
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if you have direct deposit i have some transfered automatically from checking to savings each paycheck im bad at saving you'll be suprised at how much you save in a month or two!!!
:)) |
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goosy719
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I am horrible on not saving money. I have always had a 100.00 taken out of my paycheck and put into savings but I always find a way to spend it. I have a shopping addiction and if I want something its very easy for me to just transfer the money into checking to cover what I dont need so while that works for some it doesnt work for everyone (especially me). What I have found that works is keeping a change jar. I have a 5 gallon water jug that I put all of my change into but I also go to the bank every pay period and ask for rolls of quarters (usually anywhere from 40 to 100 dollars). If I get extra money for something like selling something on ebay or winning money from something, I turn that into change as well. I have been doing this for a few months now and I am guessing that I have around 1500.00. The thing is...its a pain in the *ss to bring in that much change to the bank so I wont do it to cover a stupid non needed purchase. I am saving for a new hardwood floor and this is the only way I can do it...kinda shameful I know but it works for me and at least I am saving somehow. It has been fun watching my jug get bigger and bigger. |
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Disgusted At Yahoo Answers
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that is one way of doing it or maybe talk to your payroll person at you office to see if there is any way you can set up an R.S.P or something. Other than that yoiu could give to your mom or sometihng and have her put in special bank account for you that you cannot access. |
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maloumg
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Nooo girl, are kidding, why would u let some one hold on to your money n make money on it! Get some self discipline and make a budget, know exactly how much you NEED only to spend every pay check and get a rooth IRA or a CD, where the money is taken from your check into an account where u won't be able to get for 6months or a year or two depending what you choose. |
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*christine*
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put away a certain amount every time you get paid or every month, just like its a bill that has to be paid. and put it somewhere that you cannot take it out. for example put it in an account where you will be charged a penalty for taking it out, if you just open another acct that doesnt help you because the money is still readily available to you anytime to take out. |
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janeroth2
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Join a xmas club
So you will have a saving. |
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vernathome
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I am also lousy at saving money, I have used a savings account that removed money automatically from my checking and I did not miss that money to much, however I never did get the boat I was saving for , I spent it on a truck anyway. the only thing that does work is giving the money I want to save to my brother to hold for me out of reach. |
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Ashley ♪♥☮
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don't buy junk food buy food that's necessary. that also goes for clothes and items.
in other words/short term : Don't spend it!!! |
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im_a_goofy_chick
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if you withheld you would get less on your check and may get more at the end of the year. It's really up to you on want. |
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airforcemom79
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We withheld more on our taxes and it really is nice to get a big sum back! Also they have I think at wells or bank of America every time you use your debit card it takes the change and puts it right into savings. Or if you are like me you have to have a trusting family member save it LOL |
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bermuda890
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Budgeting, you will see where every dollar you spend goes. |
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hamrrfan
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Figure out a basis budget. Determine what you can realistically save each month.
If your company offers direct deposit use that. I have my bank accounts set up so that all of my check goes into savings and then a certain amount is transferred into checking. If your employer will automatically do direct deposit into 2 separate accounts that is simpler.
You also need to realize what things you WANT versus what things that your TRULY NEED. |
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Sick of Haterz
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bank? a bank with high intrest rates? |
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jethrow
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Open a savings account.
Put x amount in it out of each paycheck.
put some in checking for bills.
and keep a little in cash, just for fun. when its gone playtime is over.
also get rid of the credit cards if you cant resist using them |
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DS
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Have a portion of your paycheck automatically deposited into a savings account each month. The thing with state and federal taxes is you want to pay just a little when you do your taxes. That way the government isn't making interest with the money you're over-paying them throughout the year- you're getting that money instead. |
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