How do YOU save your money, if at all??

[belle155]

I'm at the point I'm lookin to get a new house for myself. I have nothing saved for retirement right now. I don't know how to break up mypaychecks into retirement, savings, future house paments, etc...just wonderin where you guys go for financial advice and where/how you save your money.

 

[utvol23]

listen to Dave Ramsey! Go to DaveRamsey.com to see if he is broadcast in your area. Also buy or borrow one of his books from the library.

 

[jumpman227]

What I did was open an online savings account, which is totally separate from the rest of my banking, I opened it at ING Direct. They pay way better interestthan any brick and mortar bank. Then every week I had a specific amount direct deposited into that savings. Whats good about the online account is that youdont have access to it for you to take whenever you want. If you want to withdraw it, it takes about 3 business days to get. Having my savings account moredifficult to dip into really helped me to stay away from it. Hope this helps. Also as far as retirement, at your job contribute at least as much as youremployer matches to take full advantage of their match.

 

[icykicks79]

i put all my money in my iphone box.

 

[swift yons]

I need money to save first

 

[putting in work]

Word man I be trying to save, but it seems like it is never enough.

 

[barondavis5]

i dont save, sadly i like to spend everytime i get any amount of money.

 

[cameron nelson]

For me, I have a budget...always have had one. I basically average out how much my bills are per month, since they're usually the same thing (besideselectric--only higher in the winter). I take out everything, even gas money/recreation money for the month. Whatever I have left (usually $1200 extra), I saveabout 3/4 of it every month...the remainder of the money goes into a "$%+% happens" fund, such as car repairs, higher bills, unexpected accidents,etc. Also, I save ALL my change and have a "singles" jar as well. By singles jar, whatever $1 bills I have at the end of the day, goes into the jar.It'll add up pretty quickly.

 

[s0ul glo]

diversify your bonds

 

[dallassneakerhead08]

I'm only 17, so needless to say the I'm not looking into saving $ for retirement or houses. BUT I think it just has to do with discipline, I'vehelped some homeboy's with saving. It's simple, just tell yourself if you really want to save you really just need to break up ya checks. Ex- I used tomake 350$ a check last yr...100$ str8 to the bank no matter what was goin on I wouldn't touch that, 50$ just to throw in my shoe box in my closet just forwhenever I needed $ to pay for something (Usually a New Jordan Release), then I had 100$ a week for hair cut/fast food/gas/gambling on madden. The left over $I had from that 100$ would go towards the next week so by the time I got my check after 2 weeks I would have $ just to go blow on a new shirt/jeans/etc.

 

[andycrazn]

Originally Posted by Cameron Nelson

For me, I have a budget...always have had one. I basically average out how much my bills are per month, since they're usually the same thing (besides electric--only higher in the winter). I take out everything, even gas money/recreation money for the month. Whatever I have left (usually $1200 extra), I save about 3/4 of it every month...the remainder of the money goes into a "$%+% happens" fund, such as car repairs, higher bills, unexpected accidents, etc. Also, I save ALL my change and have a "singles" jar as well. By singles jar, whatever $1 bills I have at the end of the day, goes into the jar. It'll add up pretty quickly.

i do the singles and change jar too. buy a 50 cent item with a 5 dollar bill and 4.50s in the jar

 

[roddyrodpiper]

Originally Posted by DallasSneakerHead08

I'm only 17, so needless to say the I'm not looking into saving $ for retirement or houses. BUT I think it just has to do with discipline, I've helped some homeboy's with saving. It's simple, just tell yourself if you really want to save you really just need to break up ya checks. Ex- I used to make 350$ a check last yr...100$ str8 to the bank no matter what was goin on I wouldn't touch that, 50$ just to throw in my shoe box in my closet just for whenever I needed $ to pay for something (Usually a New Jordan Release), then I had 100$ a week for hair cut/fast food/gas/gambling on madden. The left over $ I had from that 100$ would go towards the next week so by the time I got my check after 2 weeks I would have $ just to go blow on a new shirt/jeans/etc.

your a smart dude

A penny saved is a dollar earned

 

[wawaweewa]

Originally Posted by ca5perrr

Originally Posted by Jumpman227

What I did was open an online savings account, which is totally separate from the rest of my banking, I opened it at ING Direct. They pay way better interest than any brick and mortar bank. Then every week I had a specific amount direct deposited into that savings. Whats good about the online account is that you dont have access to it for you to take whenever you want. If you want to withdraw it, it takes about 3 business days to get. Having my savings account more difficult to dip into really helped me to stay away from it. Hope this helps. Also as far as retirement, at your job contribute at least as much as your employer matches to take full advantage of their match.

ing ftw. 4.5 % interest

Real Inflation is close to 8%.

a

 

[mk25tolife]

This is a good question but what percentage of NTers are really off on their own paying all their own expenses, when I say all, I mean ALL

 

[ca5perrr]

Originally Posted by Jumpman227

What I did was open an online savings account, which is totally separate from the rest of my banking, I opened it at ING Direct. They pay way better interest than any brick and mortar bank. Then every week I had a specific amount direct deposited into that savings. Whats good about the online account is that you dont have access to it for you to take whenever you want. If you want to withdraw it, it takes about 3 business days to get. Having my savings account more difficult to dip into really helped me to stay away from it. Hope this helps. Also as far as retirement, at your job contribute at least as much as your employer matches to take full advantage of their match.

ing ftw. 4.5 % interest

 

[blazekicks]

i get paid every week, so i just Direct deposit 30% of my check into My saving account and the rest into my checking.

 

[dallassneakerhead08]

Originally Posted by RoddyRodPiper

Originally Posted by DallasSneakerHead08

I'm only 17, so needless to say the I'm not looking into saving $ for retirement or houses. BUT I think it just has to do with discipline, I've helped some homeboy's with saving. It's simple, just tell yourself if you really want to save you really just need to break up ya checks. Ex- I used to make 350$ a check last yr...100$ str8 to the bank no matter what was goin on I wouldn't touch that, 50$ just to throw in my shoe box in my closet just for whenever I needed $ to pay for something (Usually a New Jordan Release), then I had 100$ a week for hair cut/fast food/gas/gambling on madden. The left over $ I had from that 100$ would go towards the next week so by the time I got my check after 2 weeks I would have $ just to go blow on a new shirt/jeans/etc.

your a smart dude

A penny saved is a dollar earned

Appreciate it, Just tryin 2 to give back to my fellow NTers

 

[703 hwy]

Someone has been on ING for awhile cause ain't nothing 4.5 homie

 

[johngotty]

I save all my change. I mess w/ING & direct deposit. Keep a little in the shoebox. Normal activities.

Make as much extra dough as I can from all angles.

 

[krisp kicks]

The interest earned on many savings accounts is less than inflation. 401k's are a good look if you have a legit job. The key to saving money is to make itwork for you, otherwise it's not really doing much good. Yea you save for a rainy day, but the only way to make money is to have money. Invest in somethingthat will offer a high rate of return, and remember if you want to take risky investment chances, the best time is when you are young enough to recover fromany serious mistakes. But find a way to have money saved that is really worth something. Debt and living on the edge is not a good look.

 

[damnneardeadstock]

i stay away from shoe stores

 

[im a helion]

I'm bout to use some of these tips...

 

[ebay 23]

I'm 17
i deposit all of my check on pay day and then take out $40 for gas the week and whatever else
and when I'm on the verge of buying something like shoes/clothes i always tell myself "chill G you're broke " even though I'm not

it works
and well since i want a newer car that keeps me in line too
but i always spend money when i got out like Starbucks and stuff
and it helps that i have an account where i cant let it drop less then $750 so i only deposit and never withdraw from that account

 

[late registrant]

Originally Posted by Putting In Work

Word man I be trying to save, but it seems like it is never enough.

Word.

 

[ac4three]

Originally Posted by Jumpman227

What I did was open an online savings account, which is totally separate from the rest of my banking, I opened it at ING Direct. They pay way better interest than any brick and mortar bank. Then every week I had a specific amount direct deposited into that savings. Whats good about the online account is that you dont have access to it for you to take whenever you want. If you want to withdraw it, it takes about 3 business days to get. Having my savings account more difficult to dip into really helped me to stay away from it. Hope this helps. Also as far as retirement, at your job contribute at least as much as your employer matches to take full advantage of their match.

That's how I save my money as well.