Good ways to save money?

Discussion in 'Mayberry Lounge' started by FlowWithTheGo23, Jan 6, 2015.

  1. FlowWithTheGo23

    FlowWithTheGo23 Black Belt

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    I got a big raise, but things just always seem to keep coming up. Makes saving money hard. Was wondering if anyone had some clever ideas for how to set up a nice little nest egg.
     
  2. WorldofWarcraft

    WorldofWarcraft Holy Paladin Banned

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    Do you have a savings account? I set up my paychecks to where 20% goes to my savings account every pay period.
     
  3. Adamant

    Adamant GOLD BELT

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    Just have a seperate saving account. Put whatever you can into that and don't touch it. After you save up $10,000 - $20,000.... then put ALL of it into a money market liquid CD where it will earn interest.
     
  4. Omegaboy13

    Omegaboy13 Sweepin' Your Leg

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    While like 200 bucks of my paycheck goes to a forced retirement and fucks me every week, I do a variation of this. I think like 10% of my paycheck goes to savings through an automatic transfer with my bank on a specified day every month.
     
  5. blakethemus

    blakethemus Blake Belt

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    Never pay for hookers. Just fuck Uggos off tinder.
     
  6. Fatchops

    Fatchops Eagerly awaiting the Abyss

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    Pay off any credit card debt if you have it. Then have a portion of your paycheck automatically transferred to a savings account. I also automatically contribute to a retirement account.
     
  7. 5crew

    5crew Black Belt

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    This two is correct. Get another saving account different from the one you have a ATM card. Deposit a fix and decent amount monthly from your salary and keep the discipline to do it constantly.

    Previously, I transfer 1k to my alternate saving account every time I get my salary. The rest is for spending, if there are left overs still, good.

    Without an ATM card for this alternate saving account, you still will think twice when you wishes to withdraw these money when your main account bleeds dry.
     
  8. Lead

    Lead /Led/ Staff Member Senior Moderator

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    Budget so you know where you money is going and how much of it is going there. With that, you will be able to make a more informed decision on where you can improve on savings. Whatever you have left over from that month after you're budget, move to an online savings account that you don't touch unless for emergency/investing.


    It also helps if you don't change your lifestyle after a raise. Even delaying the lifestyle bump for a year can make a huge difference putting that money away.
     
  9. fightingrabbit

    fightingrabbit Banned Banned

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    Pee in the shower to save on water bills.
     
  10. KrazyKanadian

    KrazyKanadian Gold Belt

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    Couple fewer hookers a week should do it!
     
  11. Krav McGraw

    Krav McGraw Double Yellow Card Double Yellow Card

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    Putting money into a savings account becomes unwise after awhile.

    You should be earning good interest with your savings.

    You can start a mutual fund with as little as $1000. Contribute 15%-20% of every paycheck to it. Use a Vanguard index fund. They are the cheapest and best.
     
  12. kahiljabroni

    kahiljabroni Black Belt

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    I hear ya ts, the variable unavoidable costs always seem to come up whether its a car repair, medical bill, etc. Just keep your fixed costs as low as possible and squirrel every dime u can.
     
  13. DrBdan

    DrBdan Something clever

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    I agree with Lead Salad. Having a budget is important. It's also important to occasionally do an audit of your spending from time to time to see where.your money is actually going. A budget only helps if you actually stick to it. I don't think you need to track it constantly but reviewing a month of spending a few times/year is useful.
     
  14. Heisenberg

    Heisenberg tread lightly

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    Don't spend it
     
  15. thaifighter541

    thaifighter541 Orange Belt

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    Buy clothes from thrift stores or similar places.

    Go to library to fulfill entertainment needs

    Buy foods in bulk whenever possible

    Keep track of spending
     
  16. A.A. Riggs

    A.A. Riggs SAXOPHONE

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    Check out the Mayberry Investment thread to see how others are making their money work for them.
     
  17. FlowWithTheGo23

    FlowWithTheGo23 Black Belt

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    A friend of mine used to do this whenever he'd get the urge to buy something crazy, like a new TV, etc,. After finally deciding to not go for it, he'd take the money that he would have spent and pour it into a mutual fund or something like that. He's got a nice size chunk saved up just from that.
     
  18. SammyPops

    SammyPops Gold Belt

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    Pay yourself 1st is a great way to save. When the cash is not on hand, its much harder to blow it on an expensive dinner or impulse purchase.

    The latte factor! $5 a day on a latte or $10 a day on lunch adds up fast.

    Also- take advantage of any govt programs, such as TFSA like we have in Canada.

    Keep track by writing down all your spending for a week and 2 and you may be surprised on some stupid shit you buy.
     
  19. A.A. Riggs

    A.A. Riggs SAXOPHONE

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    Truly smart.

    Investing in yourself is like paying membership dues to the most beneficial club in the world.
     
  20. Oblivian

    Oblivian Aging Platinum Member

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    Have a decent amount going straight from paycheck to 401k or IRA. Put money into other savings vehicles like health savings or college savings accounts where there is a penalty for withdrawing for uses besides what they are intended for. Otherwise, just have some self restraint and live below your means.
     

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