Pay Yourself First.
One of the most Valuable finacial Tips I have Ever recieved In my 24 years of Living is “pay yourself first” Before You pay your Student loan, Your Credit card bill’s, YOur rent And you car note. When i say pay yourself it doesn’t mean go buy yourself a new outfit and a new pair of shoes. You should be fitting those things in with your monthly expenses. My advice is to set aside at least 50$-75$ per pay period.Treat the Emergency Fund like An Expense. put Those funds in a high interest savings account. This Money is not for shoes and Shopping this money is there for you in the event that you should Get in a bind. instead of paying 30% per hundred per pay period interest on a payday loan.. Borrow your own money from your emergency account. Be sure To treat yourself like a creditor Make sure you pay the money back plus the normal 50-75$ if you are able. Now for you (Seasoned Savers) i have a CHALLENGE for you. I challenge you to Save Every $5 Bill that crosses your palms.. And for you check card junkies i challenge you to transfer 20$ into your savings account for every 100$ you spend Can you do it?? For you saving vets What are some neat innovative ways that you saved????
Lisa said,
January 6, 2010 at 8:04 pm
My bank has an automatic saving plan, so every month 25 dollars goes into my savings account. I have a money jar at home and I put all my loose change and 5 dollar bills in that jar. My 5 dollar/loose change jar is for vacations. I was able to save up enough money to buy my plane ticket, and the extra I put aside for my next vacation all in a few months.
ElleX said,
January 16, 2010 at 8:19 pm
Here are a few of my ways (and, yes, I am a VET):
1) Whenever I do my own hair, I pay my savings account what I would have paid the hair stylist.
2) All rebates, refunds, and prize winnings, go into savings.
3) I shop clearance and sales and use coupons (when I can) and put into savings what I save.