Tuesday, December 6, 2011

What is the best method to save money?

I have a problem with saving money and this has come to my mind that I never get anything that I can turn to and say that it cost my money and all I buy is lots of sweets that makes my room full and makes it look like a candy world.I SERIOUSLY NEED A SOLID PLAN A WAY TO MAKE MY MONEY GROW AND T SAVE FOR THE DAY MY BABY COMES!|||Have a certain amount deducted directly from your bank account everytime you get paid. Move it into an account, bank, savings, mutual fund, brokerage account, whatever, that you do not have an ATM card associated and it is a pain to get access to. tba|||Hi,





I usually make sure I have a budget of outgoings and contol my shopping sprees. The following is a site I use which is packed full of tips advice and resources to help manage you're finances properly.





Thanks





http://www.good-financial-planning.info/|||First thing you need is a distraction, like a book or going for a walk or something like that. Also start small with savings, maybe $5 a paycheck put it away save it and stick with that amount if you start to notice that you have extra money at the end of the week, bump up that amount to $10 dollars. Make a game out of it see how much money you can have left over at when you cash your next paycheck. Direct deposit is great as well, out of sight, out of mind.|||Do a personal audit of your spending. List all the things you spent money on in one month. Once you have the list, you can see what things are necessary, and which things were indulgences. Figure out what the amount of money you need in a month for the necessary things (like utility bills, mortgage/rent, etc), and the amount you will have left for discretionary spending or saving. Don't completely cut yourself off from buying things you want all at once, but definitely don't wait to take the first step in managing your finances|||Automatically and out-of-mind. Have a small percentage of your income deducted each month into an account where it is difficult to withdrawn from.





If you are using credit cards, consider using only cash. Individuals are more cautious when using cash.





Congrats on the baby.

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