How do I save money like a madman?

[animalia]

Okay so I have $811 coming to me in october from a 9 month CD. I am putting paychecks of about 575 every two weeks into a regular passbook savings account until my CD matures, then I will but the lump of cash into another CD, and continue with this process, saving in a regular savings account until my CDs mature? So ideally I will have about 10,000 come October. I also set up a thing where my bank puts 40 from checking into savings automatically so thats like 380 give or take in 9 months. So ideally, and if I stay disciplined in my saving I will have like 13,000 by october. Also this summer hopefully I will be working as an EMT instead of being a dishwasher (current occupation, lol) and will be making more than 8.50 an hour. I need suggestions. Does this sound good to you guys and gals? Obviously this is very hopeful. So I don't need to be flamed for it. Thanks in advance.

 

[Colt45]

take the bus, eat only the cheapest ramen, shower once a week, turn down the heat.

 

[DaveSimmons]

INGDirect.com pays almost as much as a CD for their savings account. They are FDIC insured so 100% as safe as your bank. Try putting money there.

Is this savings for college, a car. a house, a business, or just peace of mind?

 

[neutralizer]

Live in a box.

 

[animalia]

I shudder at the thought of public transportation. "Homer, you always said public transportation was for losers." lmao

 

[animalia]

Originally posted by: neutralizer
Live in a box.

I have to cut a hole in the box first right??

 

[Fullmetal Chocobo]

Sell your body? Oh, wait, you aren't trying to get a SLI setup.

 

[bennylong]

hookering

 

[animalia]

Originally posted by: DaveSimmons
INGDirect.com pays almost as much as a CD for their savings account. They are FDIC insured so 100% as safe as your bank. Try putting money there.

Is this savings for college, a car. a house, a business, or just peace of mind?

I don't wanna be in debt from loans. I may want to go to med school later if I burn out as a paramedic after a good number of years. Basically all of the above except for starting my own business.

 

[Brainonska511]

Originally posted by: animalia

Originally posted by: DaveSimmons
INGDirect.com pays almost as much as a CD for their savings account. They are FDIC insured so 100% as safe as your bank. Try putting money there.

Is this savings for college, a car. a house, a business, or just peace of mind?

I don't wanna be in debt from loans. I may want to go to med school later if I burn out as a paramedic after a good number of years. Basically all of the above except for starting my own business.

Why not try investing some money in some type of Vanguard fund?

 

[MrDudeMan]

Originally posted by: animalia
I shudder at the thought of public transportation. "Homer, you always said public transportation was for losers." lmao

you sound like a twat. no offense.

its possible to save that much if you dont have to buy anything for yourself (read: food, clothes, bills, etc.) and you are living at home.

 

[animalia]

Originally posted by: MrDudeMan

Originally posted by: animalia
I shudder at the thought of public transportation. "Homer, you always said public transportation was for losers." lmao

you sound like a twat. no offense.

its possible to save that much if you dont have to buy anything for yourself (read: food, clothes, bills, etc.) and you are living at home.

well I was joking so no offense taken. Usually when one quotes a satire, they probably aren't 100% serious. It's just convenient having a car that is used only for 3-4 mile trips that is also fuel effiecient. I can save on other areas too you know, like those you stated.

 

[TallBill]

Join the Army and deploy twice. You'll have $50,000 by the time you're 22.

 

[YOyoYOhowsDAjello]

Find a gf with a car an mooch of her.

Make sure you'll be able to mold her into the kind of person who can just sit at a computer all day on Anandtech for entertainment.

 

[MrDudeMan]

Originally posted by: animalia

Originally posted by: MrDudeMan

Originally posted by: animalia
I shudder at the thought of public transportation. "Homer, you always said public transportation was for losers." lmao

you sound like a twat. no offense.

its possible to save that much if you dont have to buy anything for yourself (read: food, clothes, bills, etc.) and you are living at home.

well I was joking so no offense taken. Usually when one quotes a satire, they probably aren't 100% serious. It's just convenient having a car that is used only for 3-4 mile trips that is also fuel effiecient. I can save on other areas too you know, like those you stated.

usually when you are joking there is a clear sign that it was a joke. for all i know, you could have been completely serious and still pulled out a quote from homer.

if you employ the 48 hour rule, you should be able to save a lot. anytime you want to buy something more than a preset limit which you will set for yourself, sleep on it for 48 hours and if you still want it, then consider buying it again. with some discipline im sure its possible provided you have some of the things i listed taken care of for you even at $8.50 (obviously depends on how many hours you work).

 

[dawnbug]

Originally posted by: YOyoYOhowsDAjello
Find a gf with a car an mooch of her.

Make sure you'll be able to mold her into the kind of person who can just sit at a computer all day on Anandtech for entertainment.

Wow, it does seem to have worked very well for you. Definitely good advice for the OP.

 

[YOyoYOhowsDAjello]

Originally posted by: MrsJello

Originally posted by: YOyoYOhowsDAjello
Find a gf with a car an mooch of her.

Make sure you'll be able to mold her into the kind of person who can just sit at a computer all day on Anandtech for entertainment.

Wow, it does seem to have worked very well for you. Definitely good advice for the OP.

:thumbsup:

I could have 25k if I didn't buy all this crap

 

[uberman]

I think The Unabomber lived on $125.00 a year in his cabin in Montana. He was a madman. Save like him.

 

[AgaBoogaBoo]

Citibank offers 5% or something in savings accounts as well, might want to consider that.

 

[bennylong]

Originally posted by: uberman
I think The Unabomber lived on $125.00 a year in his cabin in Montana. He was a madman. Save like him.

THey just did a documentary on him and he lived off the land. He didn't spend a dime in 7 years. Whenever a plane passed by his cabin, he would shoot them.

 

[animalia]

Originally posted by: uberman
I think The Unabomber lived on $125.00 a year in his cabin in Montana. He was a madman. Save like him.

yes :thumbsup: :Q

 

[theprodigalrebel]

You want to save money like a mad man?
No drugs. No cigarettes. No alcohol. No watching every cheesy B-movie that opens. No fancy dates. Pirate all your movies/music/software. Cancel the WoW subscription.

And, you could buy a 150cc motorcycle that gives 100+mpg and has a top speed of 60mph (and it will take over 10 secs to get there). Yup, these motorcycles exist. I ride one of them. But that's considered normal in the country I live.

 

[SKORPI0]

$25,000/42 months = $596/month - put aside about $20 a day.

 

[doze]

18~22 were quite possibly the most fun years I've ever had. Tuck a few $$$ a way and relax and enjoy yourself. You will never get your late teens and early 20's back.

Student loans aren't bad to pay off as long as you get the type that do not have interest until after graudation. Heck you can even borrow the money and invest now while in school then pay back after graduation and keep the interest.

 

[animalia]

Originally posted by: theprodigalrebel
You want to save money like a mad man?
No drugs. No cigarettes. No alcohol. No watching every cheesy B-movie that opens. No fancy dates. Pirate all your movies/music/software. Cancel the WoW subscription.

And, you could buy a 150cc motorcycle that gives 100+mpg and has a top speed of 60mph (and it will take over 10 secs to get there). Yup, these motorcycles exist. I ride one of them. But that's considered normal in the country I live.

no drugs...check
no cigarettes...check
no alcohol....check
no going to the movies...check

I never started WoW knowing it's like starting to do crack. JK WoW fans.

I like the small motorcycle idea only I live in Maine, and it's winter time right now although it was 63 degrees out today! I guess it would be great for the summer. What country do you livin in btw and do you own a moped or is it a real motorcycle? Just curious

Edit: I now see you live in India? Moped or real thing??