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Lolla
Lolla Asked:

How can I save some money?

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jkgrandma
jkgrandma Answered:

Start small.

Get a notebook (small enough to keep in a purse or pocket) and write down EVERY SINGLE EXPENSE.

I do mean everything, to the penny. If you spend 20 cents on a stick of gum, write it down.

After keeping track of your expenses in this way for a couple of weeks, you will begin to identify patterns.

Perhaps you habitually stop for a cup of coffee whenever you drop your clothes at the cleaners, or maybe you stop for ice cream whenever you take the kids to the park.

Impulse buys and 'little treats' will show up when written down like this. Once you can identify those purchases, you may be able to cut some of them out - and put the money you save (by not buying said items) into the bank or an investment account of some type.

Before too long, you'll be surprised at how much extra cash you have.

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Colo Bob
Colo Bob Answered:

I agree with jkgrandma about starting small.  The most difficult part of saving is to start!  I believe the best way is to put it away before you get it.  Most employers have pay roll deductions.  Start with 10-20 a week.  If you can't do that start a savings plan at your bank.  Save for something specific.  Of course there is long term and short term savings.  Maybe better put, a down payment for a car vs retirement savings.  They are both important.  If you don't have a steady 40 hour a week job, make sure you save a chunck when the time is good.  If you have a second job, put at least 25% of the extra money away.  US savings bonds are still out there and the interest on them is tax deferred.  They sell for as little as $25 with maturity in 5 years.  That 5 years is good if you have a problem keeping the money out of reach.

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JimmyC
JimmyC Answered:

Here's what I do: I take $50 from every paycheck and put it into a savings account which I do not touch.  You'd be surprised how quickly it adds up!

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Simran
Simran Answered:

Stop spending it on cosmetics if you are a girl and stop spending on bars if you are a man.


Thanks

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zmonique2007
zmonique2007 Answered:

Cultivate self-discipline and avoid over spending habit. Whenever possible, it is ideal to have an emergency fund separate from your savings accounts and your children’s funds.

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