Is it easy for you to save money?
 

i've been trying but it's been very hard to do so. I live my sis and my rent isn't much but my job doesn't pay much either so it's a little hard to bank money. Any tips would be greatly appreciated!

ps: i know i shouldn't buy a 360 and a tv but i really want that shit. I think im gonna save a g before i make the purchase.

ps squared: this is what i REALLY wouldn't mind buying but i gotta have a place to park it (not outside in the parking lot of an apartment ).

[img]http://www.cadillacfaq.com/faq/answers/img/mwheels.jpg[/img]

swear jar

buy all the things you want now before it's too late and you wont be able to afford them. I have a few grand saved, it's untouched, I just have a savings account that deposits $25 every week into it and I earn interest off it each month, not much, but it's free money.

good idea. no harm in doing so.



when i want to save i starve.

ditto

catching up from buying the house right now, but most of our money gets spent on bills/living

once I get done paying back the money loaned from work for buying the house we'll be in good shape.

I also have like 3300 in a 401K right now

Easy enough, then it all gets blown on some stupid shit. eek: cry:

ps3 for example, anyone wanting an amazing dust catcher by all means go buy one.

Everytime I start to save up , some shit goes wrong and there goes my money I saved. Like when I had about a grand saved up, my car decides to take a shit so now I need to use that money for a down payment. After that, I save up more but then I needed new glasses. There goes 500.

Not exactly the best of luck.

what exactly are you saving up for is the real question there has to be a goal in mind.

do you want to save money to buy something?
that would fall under GTBoys the guy wants to buy a nice 1k+ TV and a 360 and it sounds like hes doing a good job.

do you want to save money to have in case of unexpected emergencies?
thats what Butters has again good job.

do you want to save money for you to have when you retire?
excellent to start now, see if your work has a 401k/IRA plan you can contribute to. Those are your perfect retirement funds because
1. Its taken out before you even see it so it cant be missed, just like taxes.
2. you earn nice return interest on it, much better than a savings account
3. if your company matches even better you basically can double your money every month.

My work will contribute 100 dollars for every 125 that I put in. so every month I save 125 bucks from my check and I instantly get another 100 from my company. so I save 125 and earn 100 on it. then all that money gets interest on top of that.

Hell even when I worked part time at Staples they had a 401k plan, even your fast food joints probably have something you can sign up for, plus your money can be rolled over to another 401k if you get a different job, so you dont lose that money.

i suggest putting your money into the stock market

a typical bank account only accrues a savings rate of like 2% on simple interest.
a Money Market account gets you above 5% on compounded interest
an index like the S&P 500 over the years averages out to about 11% a year

keep in mind that inflation usually raises 2% a year, so all that money you have in your savings account at your bank is now growing, its losing. happy:


Are you saving for retirement? Or for a toy you want to buy in the next few years?
I'd open a roth IRA for your retirement. Do it youself and not through a bank (they usually charge 1% interest on your gains) orrrr if your employer offers a 401k plan go that route.

I day trade for a living and I make pretty good money off of it.

just buy some cheaper stuff until it adds up... that's what i do

One misconception is that you have to make a lot to retire wealthy. If I've learned one thing, it is that no matter how much you make it isn't going to be enough because you'll always want to trade up as you make more. Better living arrangement, better car, better stereo, TV, etc. We're fortunate that we don't have to worry about money too much, but if we tried to keep up with our co-workers and neighbors, in terms of cars, clothes, and other bullshit, you can bet that we'd be paycheck to paycheck.

Get some kind of savings going where the money is regularly auto-deducted from your check. After a while, you won't even notice it. If 401K is an option, then by all means contribute the maximum amount at which your employer will match, at the minimum.

Pay off you credit card bills and if you don't have any, don't get sucked into that. It is not even worth saving, aside from emergency money, if you are carrying a balance on a credit card.

Don't put any money in the stock market unless you can afford to lose it. Unless you are investing for the long term in conservative stocks, there exists a real likelihood that you will lose money. If you are young, you shouldn't be investing a whole lot of money in conservative investments though. Look into some growth funds that have performed well over the last 3 to 5 years.

im saving up for an xbox 360...im at $120 now

it seems i save up sometimes...then i think ohb i can spend more...i have a big stash...and then it goes away

[quote="Airborne Butters":60f96]Everytime I start to save up , some shit goes wrong and there goes my money I saved. Like when I had about a grand saved up, my car decides to take a shit so now I need to use that money for a down payment. After that, I save up more but then I needed new glasses. There goes 500.

Not exactly the best of luck.[/quote:60f96]same. for ex, when some ass decided to break into my car the other day. Shit is going to cost me roughly $200 bucks.

TGB, i wont get the xbox or tv until im completely comfortable(financially) making the purchase. Nothing wrong with that in my eyes..

ive got lazy of late and have just quit another job - my third in 2 months so it does not help.

plus im mega in debt so its not like im saving any money but just paying the bank back.

but ive done all the silly buy an hdtv, 360, multiple games etc so now its just simple money.

money sucks but i will think about actually saving some when i get into some real work after uni

I am not good at saving money.

Money burns a hole in my pocket. I always have a stash of a few hundred sitting in the safe for an "impulse buy". Have $500 sitting there now and my palms are starting to sweat.

I have 2 savings accounts and a checking account. I don't touch those accounts to buy my stuff.....that's used for "emergencies" and whatever. My pocket money and lil' stash is my play money.
I also have a credit card that i keep a zero balance on. I'm not falling into that debt trap !!

I was on $600 a week at VISA, I was there for 6 months, left about a month ago & now I have $12 in my pocket... annoy: I noticed that as soon as I started earning I'd start spending 5x more. I'd buy a fruit drink every day at work for $6 whereas normally I'd never consider paying that much. I'd also spend $100+ partying at the weekend whereas usually it would be more like $30.

I suck at saving, I don't actually know where it went, ni99a stole my $ My only retirement plan is to get a good job & earn as much as possible as soon as possible. rock:

♠

i got owned with credit cards in college, for books and a desktop etc...ands its snowballed. I owe about 11K in credit cards between the wife and I. 300 a month goes to that to barely make a dent. hoping to roll it into the house eventually, just to be rid of it.

[quote="TGB!":3ee86]500 for glasses - what the fuck. I'm guessing you or your parents don't have health-insurance. New Glases=90 bucks.[/quote:3ee86]

Well my parents do, but I'm off their insurance. What happend with my old job was that I applied for the insurance when I hit my 90 days and they were supposed to send me an insurance card and deduct the amount from my checks each payday. Well after 3 months of bugging the human resources hoe she finally comes to me and says I owe 500 bucks in back money because supposedly the payroll company says I've been covered since I first applied for the insurance. I called up the payroll company and after talking to them they were going to cut me a "deal" and only make me pay 250 instead of 500. I promptly told them to blow it out their ass since I was getting fired in like 2 weeks. Sure enough about week later my shit breaks and there's about 500 bones for glasses down the pooper.

My other problem with me saving, is that I nickle and dime myself. I'll skip the large purchase of like 50 bucks, but then I'll spend 10-15 bucks here n there and before ya know it I've spent the 50 bucks or more.

yay for $1600 laptops!

Im a spoiled little tit. My dad made a deal when i started high school, that if i graduated with a 3.5 or higher id never have to work while i was in school...I got straight A's throughout highschool, and thanks to honors and AP courses graduated with a 4.3 GPA. IAfter i graduated my dad retired to the virgin islands, gave me the house as a graduation present, and sends me 2K a month for all my expenses until i get out of college.

Nyck, take a close look at the intrest rate you're paying on that credit card. Now, go to a bank and shop for a loan. You'll be able to roll over that debt into a loan and have it payed off in 3 - 5 years. You're getting killed from the CC intrest rate. Do that today, not tomorrow !!