Tips on saving money?
I’m still in high school and therefore have a minimum wage job.. I make 8 bucks an hour. I work about 35 + hours per week, on top of going to school full time.. But every time pay day comes around, I feel as though I spend my check as soon as I get it. I need some tips and advice on saving money.. I have a checking and savings account and a debit card, but its so easy to just click a button on the computer and empty my entire savings account.. (which never consisits of more than 200 bucks)…I need help! I graduate in June 2010 and want at least something in my account to get me through the summer without working – I plan on traveling to visit family before I join the military in September.
Good for you for thinking about saving! This is the best time in your life to save! Free rent, free groceries, take advantage of this! Have your bank automatically transfer a portion of your paycheck to your savings account. Make a savings amount goal for June 2010 – this will help you have something to shoot for and may help deter you from wanting to empty your savings account because you’ll have to start from scratch. DO NOT allow online purchases, it is way to easy to click a button and make purchase without thinking. I think the most important thing here is will power. You shouldn’t have any bills to pay and honestly there is no reason by working 35+ hours a week at 8/hour you shouldn’t be saving half or more of that each paycheck. I also like to think of purchases in terms of how many hours I would have to work to earn it. Makes a $30 shirt for four hours of your time look a lot less appealing.











If your base paycheck is 200, pretend like it is 150 and put the extra 50 in your savings account and dont touch it
References :
Good for you for thinking about saving! This is the best time in your life to save! Free rent, free groceries, take advantage of this! Have your bank automatically transfer a portion of your paycheck to your savings account. Make a savings amount goal for June 2010 – this will help you have something to shoot for and may help deter you from wanting to empty your savings account because you’ll have to start from scratch. DO NOT allow online purchases, it is way to easy to click a button and make purchase without thinking. I think the most important thing here is will power. You shouldn’t have any bills to pay and honestly there is no reason by working 35+ hours a week at 8/hour you shouldn’t be saving half or more of that each paycheck. I also like to think of purchases in terms of how many hours I would have to work to earn it. Makes a $30 shirt for four hours of your time look a lot less appealing.
References :
Very frugal college senior