How to save money?
 

Hi sisters

I was wondering if any of you have budgets or created a savings plan? I really need to stop shopping and learn how to save money. I just moved off campus and I never realized how much you have to spend for this and that. I'm working two jobs for the summer. With my second check I'm going to make sure I save most of it.

Does anyone have any money tips or ways that they save money?

One that I've been using recently is to ask myself if I really need it? And to give myself a day or two to think about it if it cost alot instead of making an impluse purchase. But aside from that I can't save money. I need to save money for summer and fall.

FSS

One thing that has helped me is to think about how much I make an hour. When I get ready to buy something that is an I want not an I need thing, I will think about how many hours I had to work in order to be able to afford it. When you come across some things and think I had to work 10 hours to buy that then you think never mind.

When I was in high school, I saved up enough money to get a CD. I couldn't touch the money for 6 months, and then I used it to pay off my car. Maybe something like that could help you.

Those are great ideas for saving money.

here is another suggestion:
I started last night creating a budget that I found on-line and made copies for the summer so I can have one for each month. Now I can see where my money is going to.

SapphireSphinx9 I do have direct deposit, It does seem to help.
I also need to stay off of E-bay too. That's a money trap.

Thanks sisters
Enjoy your summer.

annice, where'd you get the budget? I'm terrible with my money - if you could send me that webpage that would be awesome. This thread has been so informative!

The website is http://financialplan.about.com/library/blbudget.htm
I copied and pasted so that I could adjust some of the stuff.

It's helped me so far

Hope it helps you too
Annice

I would always put half my check in the bank, and only withdraw money for really important occasions. Also, I do not use my ATM card, so I have to go into the bank to withdraw money, and since its hard to get into the bank with thier limited hours I withdraw money rarely. Also, if you have a good amount of money saved up, I agree it would be smart to invest in a CD. I have one where I can withdraw half the money at any time if I need it, but because it is in the CD I haven't touched it. It kind of anal, but I hope this helps!

LITP,
Terri
Archon
Zeta Omega Chapter
U of M Dearborn

I figure I would bump up this thread to see if anyone have any new money saving tips.

To save money on gas I started walking to class and to the library because it is summer I can walk around campus and get in shape.

Crashing y'alls forum....

Something I recently started doing was to have my paycheck, which is direct deposit, automatically split by my employer. They put 10% into my savings account every payday, and the balance of my check into my checking account. Since the money never shows up in my checking account, its easy to ignore it and let it grow. I know not everyone's employer will do this, but check with yours to see if its possible.

I have $50 taken out of my checking account and put in my savings account, weekly.

It really helps when I really need money (like for rent/car payment/tuition) and it also helps if I overdraft from my checking... (which I just did two weeks ago!!! :eek: )

Also, I sat down and planned out my budget for the next two months. I've written down in my planner when each bill is due and when I get paid. It's helped me not stress about if I've paid my bills on time, or not! Plus, I budgeted less money coming in from my paychecks, so I'll have extra money in my account to spend on clothes or something like that! (kind of like a free gift to myself!) :D

i haven't been doing a budget recently because no matter what i do there's always a deficit...

no student loans this semester + not allowed to work more than 10hr/wk= not enuf!

basically I keep the list of local food banks near by, just in case.

Greetings to all my lovely sisters!!! It feels so good to be back. Can you all believe that I forgot my password and the email addy that i used to sign up here.......... Anyways.


I have a few tips that help me out. I do my projected budget monthly and I only leave that amount in my checking account... everything else goes into my savings..

I cut up my credit card!!!!-- I still pay it off but I can't buy anything. closing out an account will affect your credit score in a bad way so don't

ATM cards are Devil Incarnates!!!! you don't need them. If you must, take out $100 bucks and force yourself to stretch it for a week or two.

I went to a finacial planner and she helped me out with the basics.. then she tried to charge me $400 for 10 visits with her. So I put the $400 in my bank account and I just keep adding on to it. Saving money is like being on a diet. You need will power and a buddy! LOL



:D

KC!!! Where have you been? You get locked outta GC and never call! hehe... j/k.

You swear like you don't know that I'm a mod or something!

If anyone gets locked out, lemme know and I'll try to get someone to help you out.

~Beth

I just opened up a saving account today. I already have a checking account but I need another account where I can just deposit money and hopefully not touch it.

As quoted by PhisigWarner: "Saving money is like being on a diet. You need will power and a buddy! LOL"

I went into a clothing store today and did not buy anything and the store had a summer sale. I decided to keep my money and save up to buy a interview suit. I am so proud of myself

I also have 3 tips I would like to share:

Tip 1: Do not shop at any store while you are hungry. Eat before you go shopping.

Tip 2: Make a list before you go into a grocery store or super store like Super Walmart or Meijers. You always end up buying more that you than you went into the store for. Do not purchase anything that is not on the list. Just put it back.

Tip 3: Do not shop with a friend who is a shopaholic because they will try to peer pressure you into purchasing items to make themselves feel better or if you do go shopping with them just tell them No if you do not want to buy something.

hey ladies, sorry to crash but i wanted to make sure there wasn't a thread about budgeting before i started a new one:D i've been depressed about money the past couple of weeks especially because i've had unexpected expenses with car trouble. i just got outta school for good and now i am officially able to begin saving money so i am excited about that, although i am gonna have to dip into my savings to pay for my car repairs (rather do that then accumulate more debt on a credit card).

*what i a do to save money is also have money directly deposited into a separate savings account. since my savings account is at a credit union that is out of the way to get to, i don't dip into it as much.

*i try not to use credit cards. it seems that even if you charge $100 on a credit card you can't resist the urge to keep on using and then that little bit of charged money builds and builds until it is impossible to pay off.

*i just started a new position where i am reimbursed for all gas/tolls/parking/items i buy for clients. when i get these expense checks i automatically deposit it into my savings instead of back into checking where i have easier access to withdrawl.

*i also write out what my estimated expenses are for the month. i pay off all my bills on-line on the same day.

*a new thing i thought of to save money is that i pay my rent in cash every month to my landlord. when i go to the bank i am going to take out an extra $100-$200 on top of the rent and then go and deposit this into my savings account.

*i've also found that my biggest problem with money is access to atm's. also i tend to eat out A LOT so spending $40.00 in 2 days is really not a rarity to me. i am also working to change my eating habits and bring food from home and cook at home as opposed to eating out so much (this will be a toughy).

KEEP THE GOOD ADVICE COMING!!!!!:) :) :)

Yeah, I always brought my lunch to work and even though people give you looks I saved at least $40 a week. It was nice considering that since it's summer it's so much easier to go shopping than during the school year.

Another thing that's easy to do is buy store brand items. I've recently tried Suave shampoo and there is no noticable difference besides the extra $5 in my pocket.

Flea markets, garage sales and yard sales usually have good selections if you're looking for something inexpensive, like a lamp or a tv. Just think Trading Spaces.

HORROR STORY
 

congrats!!!!!:D :D
Don't be like me and think you can save up checking account funds by using your savings to pay your bills. Doesn't work LOL