NT, your methods to saving money?

[prurientsole]

- head out to the bar at midnight on a Friday or Saturday, as opposed to hitting it up at 9:30-10:00

- go to the grocery store for lunch and just get a bagel and some sliced turkey instead of spending $9-10 at a restaurant

- don't go out for dinner with my girl nearly as much. Maybe a 2-3 times a month as opposed to a couple times a week

- almost everything I've worn this summer has been purchased on sale


Aaaaand, of course, even with all that, there are bachelor parties, birthday gifts, wedding gifts, car repairs, home repairs, etc., that make all those savingsgo *poof* into midair

 

[patmc13]

My work does direct deposit so I only withdrawl when I need to...and having no credit/bank cards ftw...

 

[damnthosejs]

Well even though I have money in the bank, I cosider myself wayy too broke to be buying LV this and that, Yeezy reseller prices, and especially jewelry. My 2 week paycheck equates to just about what those Yeezys were going for, and I'll be damned if I work two weeks staright for some sneakers

You're in the right state of mind

Every single day you just gotta think "I'm dead broke" and believe me you'll be surprised on how much money you've saved up.

...for now...I'm on a spending spree

I should'nt be talking inthis thread but I still got my savings intact and my bills paid all the time (including CC bill = $0). I should be on the saving mode soon since I'll bebuying my ticket for my vaca in December

 

[cronicmolemolereturns]

Originally Posted by Nawth21

Originally Posted by Al Audi

Originally Posted by Nawth21

Saving money? ha. we're paycheck to paycheck with my husband laid off.

this is a HUGE reason why people get divorces

finances........

remember you said for better or for worse though. this economy aint gettin no better so dont let the stress get to you.

(im bein 100% serious btw)

Oh I know, but our situation sucked before we got married

It's cool, I make enough to support the both of us and but there isn't much left over to save. Luckily, down the road we'll come into an inheritance and money won't ever be an issue but until then it's nose to the grindstone.

waiting on someone to die to get their money

The American Dream

 

[jthagreat]

Originally Posted by NostrandAve68

I always use a role of method of saving atleast 20% of my paycheck. The other 80% goes to bills [car note, insurance, phone etc] and whats left over is for leisure.

Idk but since ING Direct's interest rate fallen to a meager 1.30% i haven't been that enthusiactic about saving... I remember the days of 4.5%

I was on my way to having 10K in my savings by the end of the summer but decided to get a new car which depleted my savings by 2K plus sepnt another $1500 paying off CC balances.

Word. my account (emigrant) took a huge dive as well.

Hopes it goesback.

I see all these sayings about compounding interests/ira accounts averages (hypotheticals) saying based on the average annual return of 8% you can have amillion dollars in say 25years. OK how the hell are people getting these "for sure" 8% annual returns? I dont get it.

As far a having a plan for what you are saving for. I want to save for a new car, but i dont NEED a new/even used car. I just want one. I want to move out, buti dont want to rent. Theres no way ill save enough to buy a house.

I just wonder how folks have a car payment, pay rent and still live and be comfortable. Its really hard for me to comprehend this without making buku bucks orliving beyond your means.

 

[nawth21]

Originally Posted by Cronicmolemolereturns

Originally Posted by Nawth21

Originally Posted by Al Audi

Originally Posted by Nawth21

Saving money? ha. we're paycheck to paycheck with my husband laid off.

this is a HUGE reason why people get divorces

finances........

remember you said for better or for worse though. this economy aint gettin no better so dont let the stress get to you.

(im bein 100% serious btw)

Oh I know, but our situation sucked before we got married

It's cool, I make enough to support the both of us and but there isn't much left over to save. Luckily, down the road we'll come into an inheritance and money won't ever be an issue but until then it's nose to the grindstone.

waiting on someone to die to get their money

The American Dream

i know it sounds so horrible which is why I don't even think of it. But it's nice to know that there may be a time in life where money isn't suchan issue.

 

[ioround3]

start cooking every meal at home

 

[hampisaboss]

NT is good for everything

Thanks for the money saving tips oww

 

[airthompson]

Be smart and logical before you buy anything.

 

[ieternalv]

Originally Posted by NostrandAve68

I always use a role of method of saving atleast 20% of my paycheck. The other 80% goes to bills [car note, insurance, phone etc] and whats left over is for leisure.

Idk but since ING Direct's interest rate fallen to a meager 1.30% i haven't been that enthusiactic about saving... I remember the days of 4.5%

I was on my way to having 10K in my savings by the end of the summer but decided to get a new car which depleted my savings by 2K plus sepnt another $1500 paying off CC balances.


Word. my account (emigrant) took a huge dive as well.

Hopes it goes back.

I see all these sayings about compounding interests/ira accounts averages (hypotheticals) saying based on the average annual return of 8% you can have a million dollars in say 25years. OK how the hell are people getting these "for sure" 8% annual returns? I dont get it.

As far a having a plan for what you are saving for. I want to save for a new car, but i dont NEED a new/even used car. I just want one. I want to move out, but i dont want to rent. Theres no way ill save enough to buy a house.

I just wonder how folks have a car payment, pay rent and still live and be comfortable. Its really hard for me to comprehend this without making buku bucks or living beyond your means.

man, i miss those ING days, good thing i locked into a 12 month CD @ 4.5%
but yeah, i've been buying less stuff i dont need, going out to eat less, going out less in general.

10% a paycheck, like dirty said. that and another 10% in my 401k.

but i wouldn't dwell too much on to what NT says, they'll tell you to go buy some yeezys and hold them to resell.

 

[danny tanner]

I have 3 accounts

2 savings one of them is on CD

I have a checking account....

Plus I have a shoe box stashed somewhere in my house..

 

[pitman13]

Saving is easy, its all about discipline, and will power. I started saving a year ago, and in that one year I saved 10K, paid off all my debt, which was at7K, and managed to purchase myself a well deserved bday present. ING rates sucks right now, but interest rates reflect the economy, whenever the economy picksup, so will the rates.

 

[cronicmolemolereturns]

Originally Posted by Nawth21

Originally Posted by Cronicmolemolereturns

Originally Posted by Nawth21

Originally Posted by Al Audi

Originally Posted by Nawth21

Saving money? ha. we're paycheck to paycheck with my husband laid off.

this is a HUGE reason why people get divorces

finances........

remember you said for better or for worse though. this economy aint gettin no better so dont let the stress get to you.

(im bein 100% serious btw)

Oh I know, but our situation sucked before we got married

It's cool, I make enough to support the both of us and but there isn't much left over to save. Luckily, down the road we'll come into an inheritance and money won't ever be an issue but until then it's nose to the grindstone.

waiting on someone to die to get their money

The American Dream

i know it sounds so horrible which is why I don't even think of it. But it's nice to know that there may be a time in life where money isn't such an issue.

 

[speakup23]

I opened up a savings account last month where the bank automatically takes $50 dollars out of my checkings every two weeks (minimum wage FTL). Im trying tosave up for a car

Thats not much at all but I gotta start somewhere. I think Im might up the rate to try to avoid pointless spending. I dont have any bills so I can do this noproblem. Im trying to save up for a car

 

[nawth21]

Originally Posted by Cronicmolemolereturns

Originally Posted by Nawth21

Originally Posted by Cronicmolemolereturns

Originally Posted by Nawth21

Originally Posted by Al Audi

Originally Posted by Nawth21

Saving money? ha. we're paycheck to paycheck with my husband laid off.

this is a HUGE reason why people get divorces

finances........

remember you said for better or for worse though. this economy aint gettin no better so dont let the stress get to you.

(im bein 100% serious btw)

Oh I know, but our situation sucked before we got married

It's cool, I make enough to support the both of us and but there isn't much left over to save. Luckily, down the road we'll come into an inheritance and money won't ever be an issue but until then it's nose to the grindstone.

waiting on someone to die to get their money

The American Dream

i know it sounds so horrible which is why I don't even think of it. But it's nice to know that there may be a time in life where money isn't such an issue.

I mean in the grand scheme of things, it's not like I'm sitting outside the nursing home door rubbing my hands together. My husbands beenlaid off twice in a year, his car was totalled and hospitals bills without insurance are no joke. Luck might not be the right word, but it's something, youknow?

 

[DeadsetAce]

if you track what you spend in like an excel, you'll be more aware of where you're dropping money and can figure out how to cut back a bit.

auto deposit into a savings account directly from part of your paycheck is a great way to do it as well

and then the other tips NTers have been saying work too (not eating out as much, pregaming, going out a big later, etc)

 

[prez t]

can people in here give more tips on what to do to maximize the money that is saved ? a lot of people are listing the ways in which they save , but idlike to also hear peoples advice on how to REINVEST what has and is being saved up

 

[lazyj10]

When I got a mortgage, I became frugal as frugal can be...

Don't go out every night during the weekend, just one night and have some folks over.

I don't buy crap, period. My expenses besides typical living expenses are food at the grocery store.

Other than that, I save it all.

I have the ability to go out and do things if I want to to, but it depends on what it is and I calculate in my head if its worth it or not.

SERO helps incredibly w/ an "affordable" cell phone plan.

Next up, down grading TV until the NBA starts up.

 

[daytona 5000]

mint.com is a good site that can help you track your finances and show you where you spend most of your money.
From now on I'm only going to cash $200 out my check and put the rest in my savings account.
I figure I'll be less likely to spend it when I'm actually dealing with paper money.

 

[lazyj10]

Prez T -

Honestly, assessing where ALL your money goes is the biggest step of all.
Even if its a yearly expense, divide it by 12 to see what amount of that you should be saving for.

For instance, I pay my car insurance once every 6 months, and therefore, twice a year....I just divide the year total to insure I have enough for it.
My home insurance is a 1 time a year lump sum, which is easily forgettable. Therefore, I pencil that in.

You go though the necessities, add those up and compare it to your paycheck. Take that percentage of stuff you absolutely need covered. Hopefully thatpercentage is higher than the next calc, but lower than your monthly/weekly earnings.

Then add up, the best you can, all the stuff/crap you typically buy (averaged) and the amount you spend on entertainment.

It's not easy to just "stop" doing something, so be realistic and compare it then give your an allowance for the entertainment/crap...and bankroll the rest.

From the bank roll, figure out what its usage should be and save it accordingly (ie - typical savings or something more risky).

 

[sneakerfan93]

Not buying unnecessary things

 

[airjordan17]

opened up a savings account last month where the bank automatically takes $50 dollars out of my checkings every two weeks (minimum wage FTL). Im trying to save up for a car

Thats not much at all but I gotta start somewhere

That's a good start. Start with a small amount, and in turn you will want to save more. That's exactly what Idid.

Needs>Wants. That's the modo I live by.

And I also saved some serious money not eating out every night. That adds up in a hurry.

 

[guerillaunit]

when i was younger and i didnt have any bills to pay, I used to put half my check into my savings cash the other 25% and put the other 25% in my checking.

 

[northparkblind]

I never save money.

I just spend that #$@$ like i got more when really,

i dont

,

 

[dirtylicious]

Originally Posted by jthagreat

. OK how the hell are people getting these "for sure" 8% annual returns? I dont get it.

They're looking at the statistic average over a 5-10 yr period..where the stock market has consistently given an avg 10-12% gain. -- Indexfunds

and btw.

Originally Posted by Al Audi

Originally Posted by Nawth21

Saving money? ha. we're paycheck to paycheck with my husband laid off.

this is a HUGE reason why people get divorces
finances........

somewhat...but moreso the lack of communication about finances.


Lastly to everyone.
really define your NEEDS from your WANTS...