Jul
With the economy being bad and the gas prices up sky high. I can't seem to save anything. I have cut some things out of my life, and have nothing at the end of the month to put into my savings account, and in fact i have taken money out of my savings for gas. Before gas prices went on the rise i was able to put 300 dollars a month into my savings, but now i am taking at least 100 out of my savings each month for gas. Help!! I don't want to use it all.
Answer:
Hello - If you were able to save 300 a month before then I gather your job is pretty far away or you drive a automobile that gets low milage? Assuming that’s the case, here is what I would do:
List out how much money you have coming in each month. List out what your fixed costs are (rent/mortgage, car payment, automobile insurance, phone, cable, student loans, commute costs etc.) If you’ve credit card debt look at how much per card and which has the highest interest rates.
Then track every penny, each single one, you spend for a month. That will give you a very good idea of where your money is going. Track it by category -
retirement (401K, etc.)
home
vehicle (payment, insurance, etc.)
gas
cable/electric/water
groceries
eating out
clothing
movies/plays (include the popcorn)
books
newspaper (if you already paid your news paper or magazine subscription, figure out the monthly cost and include that)
hanging out with friends (bar, pool etc)
non meal related drinks/snacks (Starbucks, diet coke, snacks)
other
other
(other could be alimony, whatever, things I did not list out but you have to pay)
and you will see swiftly where your money is going. Then you can see if it is all the right places, or if you want to make a change and not buy so many clothes, see so many movies (or pass on the popcorn) etc.
Consider what is really important to you and what is not and spend accordingly.
Is there anyone you can commute to work with? Or maybe a different way to get there? or even working from home one day a week?
When you decide what you’ll change for the upcoming month, be sure to put that money savings somewhere and not just spend it on something else (or put it towards paying down credit card debt). And keep tracking what you spend for at least 6 months. that will help you get into new habits and patterns.
Retirement savings are very important, so if you have a 401K or the equivalent, dont stop contributing to that. I see so many questions here about stopping contributing or taking the money already saved out, dont do that. The value of the compound interest is massive.
Good Luck!
Answer:
well you put stuff in the bank xD and avoid impulse buying :3
you can also try sidelining from the internet ^^
*replace (dot) with actual dot xD
http://www.bux(dot)to/?r=fayntangel
http://buxdol(dot)info/?r=fayntangel
http://seabux(dot)com/register.php?r=fay…
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