How can I save money without spending it?

[eldorado99]

I know I'm really asking for it here, but do any of you have suggestions (seriously) for a way for me to save money, I always seem to spend it as soon as I get some, and I really need to start hiding a little away for safety.

 

[RiDE]

Right when you get it, burn it so you can't spend it. Works for me.

 

[Chaotic42]

Go without power for a month and go to your old job and beg for food for two months, then only eat cabbage and rice for another three months.

Worked for me!

 

[AgentUnknown]

Well, make your own lunch or bring it. Also, don't get that cup of coffee or drink everyday. It all adds up. A few bucks here and there everday really adds up. Save your change, drop it in a container once u take it out of your pocket.

 

[eldorado99]

What I mean is that my problem is my spending it as soon as I get it like on new stuff, not going without food for a week lol, more like a lack of willpower.

 

[Barnaby W. Füi]

Every time you go to buy something, think hard about how much you need it. A lot of the time, you'll be just fine without it. If you want to buy something, but don't REALLY NEED it, put it off. Tell yourself you'll think about it. A lot of the time you later decide to just not get it. That's partly how I do it, anyways. Might not work for you.

 

[T2T III]

Simple advice: Pay yourself first. Put 10% of what you make into a savings area that you don't have quick access to. You'll be surprised at how quickly your savings will build up.

 

[Chaotic42]

Originally posted by: eldorado99
What I mean is that my problem is my spending it as soon as I get it like on new stuff, not going without food for a week lol, more like a lack of willpower.

No, I mean I spent my money on crap and I was so broke that I couldn't afford to live. It instilled a very... frugal nature in me.

Everyone down here says I'm the cheapest person they know.

 

[puffff]

i find if i dont carry cash, i spend less. its easy to throw a couple dollars here and there when you have cash, but when all you have is a credit card, its much less likely you'll waste that money on a candy bar at a drug store.

 

[Mo0o]

Have your paycheck on direct deposit into savings. Bring lunch, skimp on things you really dont need.

 

[ddjkdg]

Open a savings account at another bank. Take a part of every paycheck, say 10 or 20 percent, and put it in there. Don't touch it no matter what. A lot of times when people do this they realize they can get by with less money and change their spendings habits, and end up saving even more. Do you spend most of your money with credit cards? Keep one low limit card in your wallet just in case and leave the others at home (away from the computer too). This way you won't make high dollar impulse buys. Don't let online stores remember your credit card numbers so that all it takes to buy things is 3 clicks, make sure you think everything through.

 

[bockchow]

get a saveings acount at a bank other than the one you use for your checking acount. don't have a checkbook or debit card for that acount. find out how much you need to live on and put the rest in the account. also look into a work 401k.

 

[Ketteringo]

Have a savings account and a checking account. The savings should be seperate, and harder to get into than your checking account (i.e. no debit card) so you put a certain amount of your money in there automatically every check or something and it gains that nice .2% interest

 

[PeeluckyDuckee]

I'm silly in the same way that I know I have obligations and just do the bare minimum to meet those obligations. Aside from that I don't keep track of my budget at all, month-to-month. I probably have more months where I have negative cash flow than months where I'm above waters.

I used to set aside money from payroll automatically going into RSP plan. Temporarily stopped that for 9mnths and too lazy to restart it again. After my holidays I'll plan something out. Just want to use the extra incoming cash flow for the trip for now.

Using credit card to pay for your purchases helps you keep track of how much you spend. Cash you don't really know. I'm the same way, if I have the cash I'll be more likely to hand it away.

 

[eldorado99]

Time for me to close down the old paypal account I guess

 

[EMPshockwave82]

Originally posted by: ddjkdg
Open a savings account at another bank. Take a part of every paycheck, say 10 or 20 percent, and put it in there. Don't touch it no matter what. A lot of times when people do this they realize they can get by with less money and change their spendings habits, and end up saving even more. Do you spend most of your money with credit cards? Keep one low limit card in your wallet just in case and leave the others at home (away from the computer too). This way you won't make high dollar impulse buys. Don't let online stores remember your credit card numbers so that all it takes to buy things is 3 clicks, make sure you think everything through.

also if you are living ok after putting this 10-20 percent into the account if you get a pay raise or any unexpected money then put it in there as well


after 5-10 years you'll have a good retirement fund started

 

[AgaBoogaBoo]

Put it in some time of bond right away

 

[JSang]

stop thinking you need to hide a little....money is worth way more in the future than it is now...try to tuck as much as you can away

maybe the second bank account might help

 

[daveymark]

Start small. Take a $100 bill and put it in your wallet, and don't spend it. See if you can leave it in there fr a month. If that works, bump it up to $200. the point is to be able to understand that life goes on even if you don't spend the money on that thing you want. Hell, start with $50. ANy amount will do, just tell yourself not to spend it no matter what. If you can do this for three months straight (keep $100 in your wallet) I guarantee you you will have a better understanding of money and you won't be impulsive.

 

[Munkies123]

Mutual Funds i made 400 bucks in one summer off like a 3 grand deposit, its sweet to me

 

[MikePanic]

don't go out

 

[z0mb13]

direct deposit is ur friend..

also have like a ING account, the cash is kinda hard to get to if you put it there.. and on top of it it earns quite a good interest

 

[Kelemvor]

Cut up your credit cards, cut up your check cards, etc. (or freeze them in a big thing of ice so you can get them in an emergency) Go see a financial planner, etc.

It's all about you deciding to do it or not.

 

[Storm]

Be able to identify what are "needs" and "wants".

 

[rh71]

Get some CDs at banks. You can "lock it up" for months and gain some in interest.