what is one efficient way of saving my money? im always broke and i have no money when i need it?

i always spend my money on things i wont use later on, i guess its a bad habit and then when i need money , im all out. what can i do to save my money?

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  • 1 decade ago
    Favorite Answer

    1. As soon as you get money, put it away somewhere out of sight so your not tempted.

    2. Stay away from buying small things like fast food or stickers to put on your wall.

    3. Set your mind on buying something well worth your money, and when you want to spend any of your money on anything else but that item, evaluate the situtation and determine if you REALLY need it.

    4. Ask someone you trust to hold the money for you, so whenever you need it you have to ask them. Also tell that person to hassle you a little bit to see if you really need the money.

    Hope these tips helped! Happy Holidays.

  • mac
    Lv 6
    1 decade ago

    Welcome to the club- in fact my New years resolution is to correct this horrendous obsessive compulsive behavior-- and that is exactly what it is. I am changing banks and opening up two accounts- one account I will have direct deposited the monies needed on a monthly basis for my monthly expenses- gas, electric, mortgage, etc. I will not have a debit card for that account. The second will be my "flow" money and 1/2 of that will be deposited in a savings and 1/2 will be my spending pss away money-- did you ever for one day, just ADD UP every penny you spend in 24 hours when you are out? It is amazing the $$$ you spend and literally have nothing to show for it--- ps I am also resolving NOT to buy cappucino's that cost $4 a pop- I have a machine at home and it costs less than 50 cents a cup to make--so there are a lot of ways to curb your spending but first you have to follow your money trail and track it for one day and you will then see the problem much more clearly---I hope to save enough for two great vaca's this year with my "new plan".

    Try it, it might work for you too-- and by the way- NEVER USE AN ATM THAT IS NOT FOR YOUR BANK- those little fees add up - check one months worth and then x 12 = $$$

  • 1 decade ago

    The Best thing to do is to start building a discipline saving plan or Fund, getting it started is important. There are alot of Policy out there that can help you to advieve this. Get a Structured Savings plan for Retirement is one good example. Its never to early non to late to start. Speak to an Fiancial/Insurance Adviser or Planner can help, after all putting a plan in place to achieve your financial golas requires both OBJECTIVE and EXPERT advice.

    Source(s): www.insurance-aig.com
  • Anonymous
    1 decade ago

    Open up a savings account and don't have withdrawel access to it. Make deposits every time you get paid and your funds will accumulate. I could say budget but it's not the problem with you. You could also consider getting a second job and also depositing those checks into the limited access savings account.

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  • ?
    Lv 7
    1 decade ago

    Once you have money,set aside a small amount and keep it away from you. You can ask a trusted friend or the old reliable piggy bank. lf the amount is big enough, deposit it to a bank or invest in a business.

    Never be tempted to use it on frivolous items.

  • 1 decade ago

    The most efficient way is to not spend it.

    But an effective way to not spend it is to have money taken out of your paycheck and put into stocks, 401K or a bank account you don't look at unless its an emergency.

  • 1 decade ago

    I find if I carry a lot of money I will spend it much faster. Only carry enough to put gas in the car, catch a taxi or get a quick bite to eat if your out all day.

  • PikC
    Lv 5
    1 decade ago

    You need to be strong enough to put away (in a bank perhaps) a specific amount you feel comfortable with. And then spend only the rest, without ever hoping to take any out from those you put away. I was trained from the day I started earning $$ by my parents - thanks to them, I've enough to live for the rest of my life now.

  • 1 decade ago

    do you have a checking account? if so open a savings account, and have a percentage of your check go into your savings account each month. You will build up a savings fast! IF your work offers direct deposit ask them to have a certain % transfered to your savings..

  • Anonymous
    1 decade ago

    I read RICHEST MAN IN BABYLON they say keep 10 % of your salary

    I put some in a 32 day notice account, so I cant spend it

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