Tree .. man!
Tree .. man!
save your money:the best way to save money
Saving money is a task that is much easier said than done. There is more than spending less money (although some can only be difficult). How much money will you save, where you put them, and how can you make sure it stays there? Here's how to set realistic goals, keep your spending under control and get the most for your money.
Steps
1Kill debt first. Just calculate how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to earn more money. Once the money is freed from debt payment, it can easily be reassigned to savings. Also, the faster you pay the debt, the less interest you will pay, and you can save money instead.
If you decide to start saving before paying off your debt, however, look into consolidating your debts so that you do not pay much interest.
The only money savings should take priority over out of debt is to create an emergency fund (setting aside enough money so that if you lose your income, you can survive for 3-6 months). If you do not have an emergency fund, you should begin to contribute to one immediately.
2Adjust savings goals. For short-term goals, this is easy. If you want to buy a video game, how much it costs, if you want to buy a house, determine the amount of a down payment you need. For long-term goals such as retirement, you have to do a lot more planning (the amount of money you need to live comfortably for 20 or 30 years after the cessation of activities), and also will have to understand how investments will help you achieve your goals.
3Establish time frame. For example: "I want to be able to buy a house in two years," Set a specific date for the completion of short-term objectives, and make sure the goal is attainable within that. period. If this is not possible, just get discouraged.
4Figure know how much you need to save each week, month or per paycheck to reach each of your savings goals. Take each thing you want to save and how much you need to start saving now. For most savings goals, it's best to save the same amount each period. For example, if you want to make a down payment of $ 20,000 on a house in 36 months (three years), you will need to save about $ 550 per month, every month. But if your paychecks amount to $ 1000, may not be a realistic goal, so adjust your schedule down to an affordable amount.
5Keep track your spending. What you save falls between two activities and their difference: how much you earn and what you spend. Since you have more control over what you spend, it's wise to take a critical look at your expenses. Write down everything you spend your money for a couple of weeks or a month. Be as specific as possible and try not to let small purchases. Assign each purchase or expenditure a category such as: rent, car insurance, car payments, phone bill, cable bill, utilities, gas, food, entertainment, etc.
Keep a small notebook with you at all times. Make it a habit to record all expenses and save receipts.
Sit down once a week with your small notebook and receipts. Record your expenses in a large notebook or spreadsheet.
There are many applications that can be downloaded to your phone to help you track your spending.
6Trim expenses. Take a good look at your spending records after a month or two have passed. Probably be surprised when you look at your record of expenses: $ 30 in ice cream, $ 10 on parking tickets? Probably the obvious cuts you can make. Depending on how much you need to save, however, you may have to make difficult decisions. Think about your priorities, and make cuts you can live. Calculate the amount of the cuts that will save a year, and you'll be much more motivated to pinch pennies.
Can you move to a cheaper apartment or house? Can you refinance your mortgage?
Can you save money on gas, or give up a car altogether? If your family has multiple cars, you can bring?
Can you get a better price on insurance? Call around and make sure you are getting the best possible price. Consider taking a higher deductible, too.
Reduction Store racks clothing stores. The cleaning products are marked considerably and could save 50% of the price.
Can you drop a land line and not just use the cell phone, or save money by calling the free Internet services such as Skype?
Can you live without cable or satellite?
Can you reduce your electricity bills?
Can you restrict eating out? Buy food in bulk? Start using coupons? Cooking more at home? You may be able to save money when shopping.
7Reassess your savings goals. Subtract your expenses (those who can not live without it) your net pay (after taxes have been eliminated). What is the difference? And it fits with your savings goals? Let's say you've decided you definitely can get away with $ 150 per month, and the amount of their paychecks than $ 230 per month. That leaves you with $ 80 to save. If there is absolutely no way I can fulfill all your savings goals into your budget, take a look at what you're saving and cut the less important things or adjust the time. Maybe you need to put off buying a new car for a year, or maybe you really do not need a big screen TV that badly.
8Make a budget. Once you've managed to balance your income with your savings goals and spending, write a budget to know each month or each paycheck how much you can spend on something else or class of things. This is especially important for expenses which tend to fluctuate, and you know you will have a particularly difficult time limit. (For example, "I will spend only $ 30 a month on movies / chocolate / coffee / etc")
9Stop the use of credit cards. Pay for everything with cash or money orders. Not even use checks. It is easier to spend when you are pulling a bank account or credit card because you do not know exactly how much is there. If you have money, you can see your supply is low. You can even bundle up the predetermined amount of money allocated for each expense with a label or keep separate jars for each expense amount (for example, a package pot / coffee, one gas and one to many). Pulling money from a boat of this particular expense, you will see what it is and also recalled its limit.
If you need to have credit cards, but do not want the temptation of having them available for use every day, restrict that section of your wallet with a note or picture to remind you of your savings goals.
Credit cards are not inherently bad, it is your self-control. If used responsibly (ie completely pay off every month), you can benefit. But the reason most credit card companies make money, however, because people end up spending money they do not have. Unless you're one of the people who can religiously pay the balance in full each month, you are better off giving up the promotions that credit card companies use to lure you in (cash, introductory APRM, airline miles, and so on).
10Open a savings account with interest. It's much easier to keep track of your savings if you separate your money. Also you can usually get better interest savings accounts in checking accounts (if you earn interest on your checking account at all). Consider interest options such as CDs or money market accounts savings goals.
11Pay first. Savings should be your priority, so do not just say you are going to save what is left at the end of the month. deposit in a savings account (or piggy) as soon as you get paid. A simple and effective way to start saving is to simply deposit 10% of each paycheck into a savings account. If you receive a check or money order, for example 710.68, move the decimal point one place to the left and deposit that amount: 71.07. This works well and requires little importance, for several years, has a good amount of savings.
You can set up an automatic transfer from your checking account to your savings account, either through your bank or a third party application. You can opt to transfer a fixed amount or a percentage of purchases at regular intervals (eg daily or weekly) to your checking account to your savings account. The advantage of using a percentage, is that the amount saved is proportional to the amount you spend.
Many employers allow you to deduct savings from your paycheck. The money is deposited directly into your savings account so you never see in your paycheck.
You can also make investments for retirement taken directly from your wages and taxes may be deferred with this option. Your employer may offer a 401k matching program for retirement and what is even more interesting to save.
12Don't not get discouraged and give up. You can not think that you can become rich, but to become a millionaire is possible if you put up an aggressive savings plan and stick to it. You might be surprised how much money you can put aside a lot better than what you could buy with short term savings. Good things often take a long time and save the more interest you make on your savings as well!
Advice
When you go to buy something to think about something to save for and the approximate percentage of savings to the extent that the cost of things, and often will not buy.
Make purchases with paper money, not the exact amount, and always save the change. Use a piggy bank or a jar of their currencies. Parties and changes may seem insignificant, but when accumulated over time, can help you save. Some banks now offer free coin counting machine. When you redeem your coins, ask to be paid by check if you will not be tempted to spend your new found money.
Watch your belongings. In this way, you will have to replace the items within. Also, do not replace items until absolutely necessary. For example, just because the engine in an electric toothbrush is broken, does not mean you stop working as a toothbrush. Continue to use, and when you're ready to buy a new or see the warranty.
Always overestimate your expenses and underestimate income.
Use affirmations. For example, this statement repeats itself until it sinks in: the debt is not an option.
Enjoy the simple pleasures of life. During the Great Depression, people were always fun, fun just not lavishly expensive. Children soapbox derbies, the teens had dance competitions, and all played Monopoly, had puzzles, read and listen to the radio. They meet to discuss philosophy or pray, play poker or make pillows quilt, play instruments and dance. In those days, it took a little imagination and ingenuity, but they had a lot of fun without hanging at the mall, and you can too. Most friendships and alliances that are formed during the Great Depression on the basis of these activities stood the test of time.
If you receive unexpected money, put all or most of it in savings, but will continue to set aside so the regular amount. To reach your savings goals faster.
Even if you really want something, ask yourself, do you really need this? More than half of the time there will be a big step.
Most people can save something, regardless of income. From saving a little help strengthen the savings habit. Even saving a minimum of $ 5 per month, you learn that you do not need as much money as you think.
If you can not bring himself to destroy all your credit cards at least freezing. Put them in a bowl, fill it with water and stick it in a freezer. Thus, if you feel the need to use the credit, you must wait until the ice melts, and during this time you can come to their senses and realize that you really do not need to buy what you want to buy.
Steps
1Kill debt first. Just calculate how much you spend each month on your debts will illustrate that eliminating debt is the fastest way to earn more money. Once the money is freed from debt payment, it can easily be reassigned to savings. Also, the faster you pay the debt, the less interest you will pay, and you can save money instead.
If you decide to start saving before paying off your debt, however, look into consolidating your debts so that you do not pay much interest.
The only money savings should take priority over out of debt is to create an emergency fund (setting aside enough money so that if you lose your income, you can survive for 3-6 months). If you do not have an emergency fund, you should begin to contribute to one immediately.
2Adjust savings goals. For short-term goals, this is easy. If you want to buy a video game, how much it costs, if you want to buy a house, determine the amount of a down payment you need. For long-term goals such as retirement, you have to do a lot more planning (the amount of money you need to live comfortably for 20 or 30 years after the cessation of activities), and also will have to understand how investments will help you achieve your goals.
3Establish time frame. For example: "I want to be able to buy a house in two years," Set a specific date for the completion of short-term objectives, and make sure the goal is attainable within that. period. If this is not possible, just get discouraged.
4Figure know how much you need to save each week, month or per paycheck to reach each of your savings goals. Take each thing you want to save and how much you need to start saving now. For most savings goals, it's best to save the same amount each period. For example, if you want to make a down payment of $ 20,000 on a house in 36 months (three years), you will need to save about $ 550 per month, every month. But if your paychecks amount to $ 1000, may not be a realistic goal, so adjust your schedule down to an affordable amount.
5Keep track your spending. What you save falls between two activities and their difference: how much you earn and what you spend. Since you have more control over what you spend, it's wise to take a critical look at your expenses. Write down everything you spend your money for a couple of weeks or a month. Be as specific as possible and try not to let small purchases. Assign each purchase or expenditure a category such as: rent, car insurance, car payments, phone bill, cable bill, utilities, gas, food, entertainment, etc.
Keep a small notebook with you at all times. Make it a habit to record all expenses and save receipts.
Sit down once a week with your small notebook and receipts. Record your expenses in a large notebook or spreadsheet.
There are many applications that can be downloaded to your phone to help you track your spending.
6Trim expenses. Take a good look at your spending records after a month or two have passed. Probably be surprised when you look at your record of expenses: $ 30 in ice cream, $ 10 on parking tickets? Probably the obvious cuts you can make. Depending on how much you need to save, however, you may have to make difficult decisions. Think about your priorities, and make cuts you can live. Calculate the amount of the cuts that will save a year, and you'll be much more motivated to pinch pennies.
Can you move to a cheaper apartment or house? Can you refinance your mortgage?
Can you save money on gas, or give up a car altogether? If your family has multiple cars, you can bring?
Can you get a better price on insurance? Call around and make sure you are getting the best possible price. Consider taking a higher deductible, too.
Reduction Store racks clothing stores. The cleaning products are marked considerably and could save 50% of the price.
Can you drop a land line and not just use the cell phone, or save money by calling the free Internet services such as Skype?
Can you live without cable or satellite?
Can you reduce your electricity bills?
Can you restrict eating out? Buy food in bulk? Start using coupons? Cooking more at home? You may be able to save money when shopping.
7Reassess your savings goals. Subtract your expenses (those who can not live without it) your net pay (after taxes have been eliminated). What is the difference? And it fits with your savings goals? Let's say you've decided you definitely can get away with $ 150 per month, and the amount of their paychecks than $ 230 per month. That leaves you with $ 80 to save. If there is absolutely no way I can fulfill all your savings goals into your budget, take a look at what you're saving and cut the less important things or adjust the time. Maybe you need to put off buying a new car for a year, or maybe you really do not need a big screen TV that badly.
8Make a budget. Once you've managed to balance your income with your savings goals and spending, write a budget to know each month or each paycheck how much you can spend on something else or class of things. This is especially important for expenses which tend to fluctuate, and you know you will have a particularly difficult time limit. (For example, "I will spend only $ 30 a month on movies / chocolate / coffee / etc")
9Stop the use of credit cards. Pay for everything with cash or money orders. Not even use checks. It is easier to spend when you are pulling a bank account or credit card because you do not know exactly how much is there. If you have money, you can see your supply is low. You can even bundle up the predetermined amount of money allocated for each expense with a label or keep separate jars for each expense amount (for example, a package pot / coffee, one gas and one to many). Pulling money from a boat of this particular expense, you will see what it is and also recalled its limit.
If you need to have credit cards, but do not want the temptation of having them available for use every day, restrict that section of your wallet with a note or picture to remind you of your savings goals.
Credit cards are not inherently bad, it is your self-control. If used responsibly (ie completely pay off every month), you can benefit. But the reason most credit card companies make money, however, because people end up spending money they do not have. Unless you're one of the people who can religiously pay the balance in full each month, you are better off giving up the promotions that credit card companies use to lure you in (cash, introductory APRM, airline miles, and so on).
10Open a savings account with interest. It's much easier to keep track of your savings if you separate your money. Also you can usually get better interest savings accounts in checking accounts (if you earn interest on your checking account at all). Consider interest options such as CDs or money market accounts savings goals.
11Pay first. Savings should be your priority, so do not just say you are going to save what is left at the end of the month. deposit in a savings account (or piggy) as soon as you get paid. A simple and effective way to start saving is to simply deposit 10% of each paycheck into a savings account. If you receive a check or money order, for example 710.68, move the decimal point one place to the left and deposit that amount: 71.07. This works well and requires little importance, for several years, has a good amount of savings.
You can set up an automatic transfer from your checking account to your savings account, either through your bank or a third party application. You can opt to transfer a fixed amount or a percentage of purchases at regular intervals (eg daily or weekly) to your checking account to your savings account. The advantage of using a percentage, is that the amount saved is proportional to the amount you spend.
Many employers allow you to deduct savings from your paycheck. The money is deposited directly into your savings account so you never see in your paycheck.
You can also make investments for retirement taken directly from your wages and taxes may be deferred with this option. Your employer may offer a 401k matching program for retirement and what is even more interesting to save.
12Don't not get discouraged and give up. You can not think that you can become rich, but to become a millionaire is possible if you put up an aggressive savings plan and stick to it. You might be surprised how much money you can put aside a lot better than what you could buy with short term savings. Good things often take a long time and save the more interest you make on your savings as well!
Advice
When you go to buy something to think about something to save for and the approximate percentage of savings to the extent that the cost of things, and often will not buy.
Make purchases with paper money, not the exact amount, and always save the change. Use a piggy bank or a jar of their currencies. Parties and changes may seem insignificant, but when accumulated over time, can help you save. Some banks now offer free coin counting machine. When you redeem your coins, ask to be paid by check if you will not be tempted to spend your new found money.
Watch your belongings. In this way, you will have to replace the items within. Also, do not replace items until absolutely necessary. For example, just because the engine in an electric toothbrush is broken, does not mean you stop working as a toothbrush. Continue to use, and when you're ready to buy a new or see the warranty.
Always overestimate your expenses and underestimate income.
Use affirmations. For example, this statement repeats itself until it sinks in: the debt is not an option.
Enjoy the simple pleasures of life. During the Great Depression, people were always fun, fun just not lavishly expensive. Children soapbox derbies, the teens had dance competitions, and all played Monopoly, had puzzles, read and listen to the radio. They meet to discuss philosophy or pray, play poker or make pillows quilt, play instruments and dance. In those days, it took a little imagination and ingenuity, but they had a lot of fun without hanging at the mall, and you can too. Most friendships and alliances that are formed during the Great Depression on the basis of these activities stood the test of time.
If you receive unexpected money, put all or most of it in savings, but will continue to set aside so the regular amount. To reach your savings goals faster.
Even if you really want something, ask yourself, do you really need this? More than half of the time there will be a big step.
Most people can save something, regardless of income. From saving a little help strengthen the savings habit. Even saving a minimum of $ 5 per month, you learn that you do not need as much money as you think.
If you can not bring himself to destroy all your credit cards at least freezing. Put them in a bowl, fill it with water and stick it in a freezer. Thus, if you feel the need to use the credit, you must wait until the ice melts, and during this time you can come to their senses and realize that you really do not need to buy what you want to buy.
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