I need to save up some money but im really bad at saving up money. How can I do it ?
You might try this; I"ve been doing it for 2 years now and it works; it's called the '50/30/20" plan...try to live on have your earnings; this is the hard part, but, ask yourself what are the essentials as opposed to the 'wants'...a good way to do this is, pretend you lost your job; NOW what would you spend your money on? certainly not cable tv, etc.,, you get the idea...then the 30% is for spending on whatever you want...and the 20% for saving and then investing...of course, you can always 'tweak' the numbers..personally I use the 30% for saving/investing and then spend the 20% on whatever I want...with this plan, you will never feel 'deprived'...and will still be able to reach your goal...heck, you could even make the spending part, only 10% if you had a really urgent savings goal...but try it, and work with it...it works, I know!!! good luck...email me if you have any further questions...have fun!!
The first thing to do is to cut down on your wants and to budget your necessities. Next, when you are already earning or being given an allowance, always make it a point to save a portion of your money. The amount may not be consistent, but the important thing is to always save a portion. Moreover, avoid spending on entertainment that you could do at home such as watching movies, eating out and getting a cup of coffee. These are stuff that you could do at home without having to spend a fortune. To know more on how to save money, check out this article:
Get a notebook and everytime you want to get something , write it down. If you want to (for example) get an Ipod, get an mp3 player instead and save up money. Write it down. If you're out and hungry, go eat somewhere for cheap (even better food quality than most fast food junks). The basics are : don't waste your money for something that you don't need; and as for what you do need : try to get the best offer money and quality.
Try opening a savings account. & EVERY time you get money, put so much into your savings account & the rest of it keep to spend of stuff that you want. (Like put ATLEAST half the money into the savings account & keep the rest.) That's what I do, I even have 2 accounts (one for my son & one for my savings). Then the rest of the money I make I keep for things that I want.
try budget. Write down how much money you would want, see how much your willing to save, where you can get money ect. And it really helps if you have someone who will discipline you, to make sure you dont trick yourself into waisting your money!
If you have a job that gives a paycheck, have them direct deposit the paycheck (if they can) and then have the bank take some amount each time and put it in a separate account ... often called a Christmas fund OR a vacation fund. Good Luck!!
you could give it to someone you trust to hold it for you thats what my sis does she is bad at spending money
I gotta save up £550 pounds for he hoilday next year and about £400 for feb its going to be hard
I get £30 a week for ema at college. and soon going to get a job as it would help.
yh I will try that one soon thanks for the advise