How can I start being a saver and not a spender? Please help?

Question

Well, I don't have the highest income. I work at a nonprofit agency doing billing and my salary is close to 30K. I have 2 credit cards and as soon as I get paid I pay them and then spend.. This is getting to the point where I don't have anything saved and as soon as I see the cash I just spend it in stuff I end up not using. college is around $800 every semester and I don't qualify for financial aid as my mom earns good money.

Do you have any tips? could you ever learn how to save? I know we all have this problem, but I need to stop.

I'll consider any good tips... Thank you!

Answer 1

Good on you for trying to kick your 'habit' !

What you can do is auto save....this is a pre-authorized debit from a bank or investment company of your choice.

You can save in a regular non-registered plan AKA cash account. This is where they'll  take $xx.xx/month from your bank account and put it into a savings/investment account.

If you're over 18 you can start saving in your RRSP/401K, the earlier the better. This is great but it offers tax deferral until retirement years.

Having the money automatically come out of your account is just like paying a bill, except you're really paying yourself and you're worth it!

Answer 2

Yes.  Put away the credit cards and pay cash for everything.

Answer 3

easy   cut up the cards   and take out cash every time you want something....youl soon see the difference, to easy on plastic

Answer 4

Just open a savings account and treat it like a bill and pay it every month or whenever you get paid. My wife and I have been doing it for 35 years and it still works great.