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 ).

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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