How Do You Save Money?

[NewZ05]

I'm one of "those" people who can NOT seem to save money.

How do you guys save?
What methods work for you?
What are the best type of accounts to save for at least a year or more? Money Market, CDs, Savings Account, etc. And how do those account types (CDs and Money Market) work?

Thanks

 

[johnnyredstorm]

just do that 52 week thing but up the ante so you save more than 1.5 g's

 

[alleniversonfan01]

Youd have to be a little more indepth with your spending habits/income. And are you young?

I used to be like that where I couldnt spend my money fast enough when I was a younger.

 

[NewZ05]

Youd have to be a little more indepth with your spending habits/income. And are you young?

I used to be like that where I couldnt spend my money fast enough when I was a younger.

I spend what I make after paying bills, student loans, etc. It would be great to pay off a few other debts I have as well.
I'm 25 and want to have money put aside if things come up, if I want to take a vacation and things like that.

 

[jehul]

I'm one of "those" people who can NOT seem to save money.
How do you guys save?

Self-control

Make a game out of it, imagine you are saving up your money for something really nice, but once you have enough saved, switch it up to something even more expensive. You'll see that most of your "needs" are really silly "wants" over time.

 

[nocomment6]

It's a good idea to set your mind an a certain goal. Don't just want to go on a vacation or buy a car, but know that you need 2 to go south or 18K for an Audi and so on. I was raised this way I suppose, but I scrutinize every dime spent, not necessarily, because I don't want to spend it, but as dumb as it may sound, writing down what you've spent your money on will reduce expenses and plotting out what your incomes will be and what you want to spend your money on will help you determine how much you can/wish to save.

 

[gottabeem21]

Self-control
Make a game out of it, imagine you are saving up your money for something really nice, but once you have enough saved, switch it up to something even more expensive. You'll see that most of your "needs" are really silly "wants" over time.

this is really what it comes down to. i still enjoy my money but i used to spend it before i had even cashed my paycheck. now i like to see how much more i can save every month.

i think that the bottom line is to live within your means and make sure you put some away.

 

[alleniversonfan01]

@25 you should prolly be pretty well set on stuff like clothes and other stuff you would need to get by. So other than bills you gotta just control yourself I guess. I mean if you are spending money on Green/Liquor/Cigarettes maybe you should try to calm down on that stuff.

Again you werent really specific on what your wasting your money on. Are you eating out all the time? Blowin money on chicks? Have a hobby that takes up a lot of cash? Gamble a lot? IDK. But I would assume a little self control would go a long way. Really think about purchases and dont buy things you dont need. Treat yourself once in a while. But dont go blowing your paycheck every weekend.

 

[bamez]

i have the same problem... this Christmas season got me broke broke though.  One of my new years resolutions is to pay off $4000 credit card.. most of that was just from eating out and drinking every night... 

learned my lesson, buy groceries every month only spending like $100 a month.  Got a gas card for $.10 cheaper gas.. Living with my girl is expensive though

 

[water]

Use my mind for enjoyment. I run a lot of places. I 

When I get paychecks, I put 15% directly into savings. I never use savings, therefore it adds up.  

I only use my money that I make from selling shoes to spend on materialistic items. 50% off. FTW 

My methods. 

 

[lil dre 08]

I just do little things like saving up my change and the 52 week thing.

I work 2 jobs so whenever I get a paycheck I put half in my savings and half in my checking.

I also reserve a set amount for social activities. Usually $10-$15 a week since I don't go out much. So say I catch a movie if I spend all the money I set aside then that means I can't spend any money on any other social activities for the week.

 

[DB Cooper]

Look at your current spending habits and see where you may be able to cut a few things out.

 

[boris]

I don't spend it.

 

[wawawowee]

It's important to keep a budget/log in order to see where your money is going.

 $10 or $20 here and there might not seem like a lot but over weeks and months it adds up. A ton of seemingly small expenditures will kill you faster than a few major ones. 

There's no right or wrong amount of spending but there is responsible and irresponsible spending. 

 

[weekz]

I think you have to find your motivation to save.
Some people save to buy a particular product, some people save for financial stability, some people save because they know they have people to support, some people save just to save, some people save to brag about the number in their bank account.

Find your motivation and stick with it till you reach your goal.

 

[jehul]

Sacrifice your social life and move out of NYC.
Damb near impossible to save in that city :x



* It all depends on your priorities, at the end the of the day though. Do what makes you ultimately happy.

 

[timelessflight]

I usually save about 20% of each paycheck and let it stack

 

[pythagoras]

When I used to get paid in checks I would wait almost a month to go pick them up and then another month to cash them in. It worked out pretty good, maybe that might work assuming you have enough cash in your account for expenses/bills.

 

[stringer bell 32]

Eat in more/ go out less

Netflix weekend