Soo I have this problem with money were as soon as I get it I have to spend it. And its not like I spend my money on anything important just stupid meaningless. As to why I dont have a car yet. Does anyone have any ideas as to how I have save money??? I not really bad I mean I pay my bills on time and shit but I would like to save money!
give someone you trust 25 bucks a week to put a way for you. (a parent usually)
start small, then put away more and more.
give it to me, I will spend it on less meaningless things. lol
I used to be in that position.
I realized I needed the fortitude to be able to tell myself no when I wanted to spend money on something dumb. I like to think I’m a little better now…
Work on a budget. Figure out what you earn, subtract your expenses, and try to save a percentage of whats left. Seems to work real well for me…
Well, if you know you’re spending it on stupid stuff, just smarten up. No advice is going to help you if you don’t have enough self control to simply not buy useless crap.
[quote=“JayS,post:6,topic:28872"”]
Well, if you know you’re spending it on stupid stuff, just smarten up. No advice is going to help you if you don’t have enough self control to simply not buy useless crap.
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exactly. You need to be able to tell yourself no…
I used to be like that when I was younger and lived at home.
Was making 300 a week, no rent, no bills, would blow it all on bullshit.
Got a place of my own for a few years, now I’m Justin the Jew.
I don’t buy anything, and bank all my money.
I am saving for a house right now so I wanted to see what it would be like to have a mortgage.
I set up a ING account and have $1,000 a month taken out automatically from my checking account. So that plus my $800 rent I know I can afford at least a $1,800 mortgage plus I have an account with some money building up for a down payment.
You could do the same thing with a car, put $250 away a month and have a nice down payment in a little while and know what you can afford each month.
give me all your money and I’ll only give you what you need for bills, then come to me in a year and you’ll have a bunch to pay cash for a car
direct depositing your whole check is the best idea. put a % in checking and a % in savings… or if you really cant contain yourself, get a parent to open a savings and direct deposit into theirs so you cant access it
Direct deposit, and cut your bank card… itll work
No debit card,Direct Deposit.
I don’t recommend doing this but I use a credit card for everything and pay it off in full at the end of the month.For some people its tough but It works great for me because I don’t impulse buy.Basically its for food,gas and purchases that I buy to resell for profit.Not to mention building some kick ass credit.
Telling someone who has serious impulse buying issues to just buy everything on credit is like telling someone with clinical depression that having loaded guns in the house is a good idea.
[quote=“Bigronsaudi,post:9,topic:28872"”]
I am saving for a house right now so I wanted to see what it would be like to have a mortgage.
I set up a ING account and have $1,000 a month taken out automatically from my checking account. So that plus my $800 rent I know I can afford at least a $1,800 mortgage plus I have an account with some money building up for a down payment.
You could do the same thing with a car, put $250 away a month and have a nice down payment in a little while and know what you can afford each month.
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Very solid idea.
Plus, this will help you realize what you can ACTUALLY afford before hand without committing yourself to it 100%, so you can bail if it’d be too much for you.
Savings FTW.
i had the same problem, and recently fixed it in a very primitive way…i was putting every check into my checking account, and using my debit card relentlessly…by the time it was payday again, i had drained the account again. I’ve never really had a savings account, and for years have lived paycheck to paycheck…it’s a very scary way to live, because the moment something goes wrong with a car, an unexpected student loan comes in, etc, i’m fucked…
here’s what i did:
Bought a $1 big plastic crayon bank thingie intended for kids…(or me)…
made myself put $50 to $100 of every paycheck…if i got a paycheck bigger than normal, $150 would go in it…
I never let myself put anything less than a $50 bill in there…
It may seem very childish, but the key is taking an active role in the saving…and being able to physically see the results. By seeing the shape of the bills in the crayon, and knowing what i have in there, i am reinforcing the action of saving more.
It feels good knowing i have something in there, and sure i could just cut the crayon open if i wanted…but in the time it would take me to do so, i would think to myself “what the hell am i doing…stop it.”
Saving eventually becomes a hobby, borderline obsession…and you literally begin to enjoy it, knowing you have a security blanket…and you’ll find yourself spending less and less so that you can afford to take more and more out of future paychecks, and put it in the bank.
Many people will say that this is dumb, and to just open a savings account…but, with a savings account, all you have is a piece of paper that tells you what you have…very different from really seeing and feeling what you have. I tried the savings account thing a while ago, and it did nothing for me. Now, i can admire my savings whenever i want…and be proud of the broken habit of excessive unnecessary spending. :tup:
[quote=“90NA300ZX,post:17,topic:28872"”]
Many people will say that this is dumb, and to just open a savings account…but, with a savings account, all you have is a piece of paper that tells you what you have…very different from really seeing and feeling what you have. I tried the savings account thing a while ago, and it did nothing for me.
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I can see where you are coming from, but high yield, short term investments ftw. you can walk in to M+T right now with $500 and get a money market that deducts money from your checking every week.
The interest rate is variable but its usually about 4.5%. lets say your car breaks down, no problem, put it on the CC and make a phone call and have the money out in 3 days. relitive liquidity.
inflation eroding the value of my hard earned savings? dont think so.