Comments on: How do I save money without being tempted to buy something that is not needed?

By: blkrob2

blkrob2 — Tue, 15 Jun 2010 16:12:59 +0000

Of course self control is needed, but if you had it you wouldn't be spending so much. To get started you should start a monthly budget for yourself. Factor in all your rent, bills, gas, food, and of course for misc. expense (i.e shopping, going out). You can even set aside a little money every pay just for shopping because you shouldn't deprive yourself. You can even find something expensive that you want and save for it and that will be incentive not to spend your extra money. I also suggest opening a CD(Certificate Of Deposit). Putting your money into a CD basically locks it there for a set amount of time (usually 9months to 60months) that you determine when you open the CD. If you try to take the money of the CD you will be charged a penalty, usually around 10%. Hopefully that will deter you from spending. However, if you leave the money in the CD you will earn interest higher than a savings account usually between 4% to 6%. Depending on how long you want to save your money you could also open an IRA which is similar to a 401K. Money deposited to the IRA earns interest and is also tax deductible which is another benefit. Unlike the CD the IRA can not be taken out to 55 1/2. The penalty for early withdraw is 10% plus you have to pay taxes on the money. IRA & CD's can be opened at most financial institutions. Always shop around for the best rates. In addition to these options I would also suggest reading up on being financially responsible and controlling debt.
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By: Romeo

Romeo — Tue, 15 Jun 2010 15:40:59 +0000

You could set a personal budget up for yourself at the beginning of each month according to the money you’ll have to spend. Include luxuries in your budget as well and exclude everything unecessary. Also, don’t get tempted to buy stuff because of a high ego. If people think you’re cheap because you wanna save and you’re not as rich as them then let them think so. In the end when you’re in financial problems then they’ll be the last people to help you ( if they ever do). Economise.
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By: nakisha t

nakisha t — Tue, 15 Jun 2010 14:56:59 +0000

i had the same problem but if you don't slow down you are going to get yourself in a bind what i did was i had all my money in my bank account i canceled out my debit cards / credit cards that way i did not all ways have access to money i would take out the amount i needed for a bill of for groceries etc... now i have more will power
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By: fashionbydesigners

fashionbydesigners — Tue, 15 Jun 2010 14:32:59 +0000

Create a budget. Get some money envelopes and label them, Food, Clothes, Personal Care, etc…Get cash out every payday according to your budget and stick them in their respective envelopes. You can only spend what you have and you CANNOT use your debit or credit card. Also, don’t pull money out of your grocery envelope to buy a shirt. Once the money in the envelope is gone, then it’s gone until next payday! Good luck.
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I’ve done this and it works, but you have to be strong and not give into the temptation.

By: stan c

stan c — Tue, 15 Jun 2010 14:05:59 +0000

Treat your savings account like a bill, pay it immediately. It's been working fine with us for over 35 years.
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By: Roxanne G

Roxanne G — Tue, 15 Jun 2010 13:41:59 +0000

always leave home without your atm and credit cards carry only enough cash for emergencies or gas or whatever you truly need
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By: beezersmutti

beezersmutti — Tue, 15 Jun 2010 12:56:59 +0000

Shop the sales. It is amazing how much you can save if you follow the sales online and in the stores. Check out the chains that sell name brand clothes at a discounted price. Sometimes you can find irregulars for up to 80% off. Try getting a job and spending your own money on clothes,. If you put in the hours and earn the money, it doen't put a strain on your parents and you can spend as much as you want and save as much as you want.
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By: jcqln_jackie

jcqln_jackie — Tue, 15 Jun 2010 12:21:59 +0000

definietely self control it works!!!!!!!!
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By: spacey_stacey

spacey_stacey — Tue, 15 Jun 2010 11:56:59 +0000

I just avoid the stores I like when trying to save,so you wont have an impulse buy,just keep walking by the things you want.just ask for it all for Christmas.
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By: Super Weather Woman

Super Weather Woman — Tue, 15 Jun 2010 11:10:59 +0000

whenn you first get your money put it in your account fist thing so you dont have any tim e to be tempted
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