best ways to save money?

[apples2apples]

Hi. I am a 21 year old female who is looking to move out soon. I am applying for jobs, However, since I do not have a job yet I am saving every penny I get. But how do I save it and not spend it? It is kind of hard when I am out because sometimes I get thirsty or hungry (have been carrying my own drinks to save money). Sometimes, I admit, I will buy a scratch ticket hoping I will win some large amount of money to put in the bank for future apartment

How do I save money and tell myself not to buy things? I have been trying, like instead of buying dvds, books, etc I have been going to the library instead but I get too lazy with retrning them I keep renewing them online. Help? Plus, my dad tells me he hates seeing me walk out of the house without cash on me incase it there is an emergency... I feel terrible that I have a hard time saving money.

I am going to atlantic city in September, I hope I win SOME money, and if I do how do I save it without spending it? putting it on a debit card won't help because I can se the debit card when I am out too

[krantcents]

There are a variety of ways to deal with impulsive buys. I avoid carrying money because I tend to spend it. I also avoid the malls and other places where I could just splurge. Develop a budget with financial goals and whatever is left over, you can determine what is reasonable to use on gambling or other things. My budget for entertainment (gambling) is $40. If I lose it in an hour, I am done.

[Daniel88]

Unfortunately it's all about self control! You need to tell yourself you don't need those impulse buys (unless of course its food or a bottle of water...). Put spare change in a pot, it all adds up eventually.

[jaynorth]

Exactly as Daniel said It's all about self control! If we want to save money then have to make a plan for spend less money and i am sure we will get a better result in only few days.

[johnt78]

A quick way to save for something you need or something special is to save your $5 bills. It's a little hard at first, but once you get in the mindset of not spending any $5 bills it's amazing how quickly you can save.

[joshuaking]

Saving Money

Hello There!

At 21, if you can learn to live on less than you make now, and save some of everything you make now, you will be way ahead of the game and all of your peers by the time you are 30.

I wish I had learned earlier in life not to put anything on a credit card that I could not afford to pay as soon as the bill came in. That would be a good start.

Next, I would get a 2nd bank account, preferable one that does not have local branches. Have 10% of your paycheck automatically deposited into this account. Destroy the checks and the debit card that come with this account, and sign up for paperless statements. This way the money will be going directly into your account, you won't see the account, and before you know it you'll be on your way saving a substantial amount of money.

Good luck!

Joshua King

[Green43]

Hello, the fact you are on this site speaks volumes at your age, congratulations
Impulse buying is reward based, you rarely find you really needed the item once you are home (hence the term buyers remorse)you just wanted the "thrill" of buying it. Offer yourself a test, walk away saying if I still want it tomorrow (or 3 days or a week) from now I will buy it.. Chances are you will find something else you "have to have" by then and start the process over. I do this with my own children and they rarely want the same thing a week later for their hard earned money... Also you father means well of course but I would have to wonder what kind of "emergency" $20 or $50 is going to get you out of, not being sarcastic but honestly, carry your phone, if you have a true emergency call your dad. Most people with money in their pocket will find a way to spend it. The only way I can save money is to not have easy access to it. And give yourself a goal to work toward. You are in a unique period in your life,acknowlegement of fiscal responsibility and youth. If you are willing to pay your future self HUGE rewards open a Roth IRA, pick a good mutual fund (maybe ask your dad for some help in this) and ONLY ADD TO IT, NEVER WITHDRAW until you retire, you have the opportunity for HUGE returns as you have 40 years to let it compound.. Many of us would give alot to be in your position as most (myself included) started retirement savings way too late to reach our goals. Of course, these are only my suggestions and you need to decide to make the change to better your financial status, it is hard to do, but very rewarding if you can get there. Regards.

[jenagustin2015]

Discipline and control, these factors will definitely help you to save money. As much as possible control yourself to buy things you don't really need. It's easy to save, if your willing to do it.

[97guns]

it is mindset, i am a gambler and a saver. the first thing that comes into my mind when i lay a bet is the safety of the bet, i want the best possible edge for my money, of course you do not win every bet so you try to win the big bets and lose little ones.

i have the same mindset when it comes to spending and that is safeguarding my worth, anytime i buy something i try to buy as cheap as i can, if i dont need it i dont buy it, i dont even have a data plan for my cell because its not worth the money spent.

saving pennies now will allow you to spend dollars later, save as many pennies as you can especially at your age.

[bmatthews]

I would add that one of the most effective tips to saving money is actually one of the simplest to do.

Whenever you want to buy something, rather than buy with a credit/debit card where the money being virtual ones and zeros lacks that resistive psychological effect, withdraw in cash what you intend to spend. You'll find yourself questioning more and more purchases when you can see (physically) just how much money you are actually spending.

For many non-essential purchases, you'll find it harder to part with your money. Also it is really effective at reducing impulsive spending.

[97guns]

if its cheap and its something i use i use my mantra of stacking it deep. i have $1/lb bacon and butter in the freezer, im wearing $7 pants and $1 underwear that i have stacked so deep that i have enough until they bury me in them, i havn't bought shoes in over 10 years because im stacked, dont ask me about toilet paper, ill just say it makes excellent insulation. in the long run buying cheap and stacking deep will save you money