Whats the best way to save money ?

Question

whats the best way to save money and not spend it ?

having money on you is scary!!

Answer 1

i think this site will help you... :) "10 effortless ways to save money.....

Answer 2

I have found the most effective way is to have it in a savings account. This serves many purposes. It keeps you from having it available to blow, it keeps it safe from predators wanting to steal it and it can be set up automatically to have money put in it each month without you having to touch it or spend it first. Treat is as another bill that automatically comes out of your check, and you never notice it, never spend it, and it never gets stolen.

I have had the most trouble saving money until I did this, now it is easy and fruitful. I have $20 a week autodrafted from my checking to savings and I write it as a bill on my budget, and have had no more troubles with saving. I hide the checkbook for my savings too, so that I am not looking at it weekly, and the checks or withdrawal slips are not accessible to me.

Answer 3

It really depends upon your unique situation.  How much money?  For what length of time?  What are you saving the money for?  Long term or short term?  

The best way to save money is to have it taken out automatically before you see it and place it somewhere that it is difficult to access to make you think seriously before you can get it.  Certificates of deposit and Money Market accounts can work well and generally give you a better return the longer that you lock them up.

If you are a homeowner, a Mortgage Savings Account is probably the best place to save money.  Your savings are combined with your mortgage to offset the principal balance and can save hundreds of thousands of dollars in mortgage interest while increasing your liquidity and maintain access to the funds.  You can find more information about opening a Mortgage Savings Account at www.maxhouse.com.

If you are talking about saving small amounts of money, not carrying cash or cards with you can help you curb impulse purchasing.  Budgeting with cash helps you to see when you have run out of cash and keeps you from overspending.  

Whatever you do to save, if you stick with it for a few months you will be surprised how fast your savings will grow.

Answer 4

you need the money & strict mentality to save it.

Answer 5

Have money taken directly from your checking account each month and put into a savings acct or money market.  Have this done automatically each month so you don't ever see the money.  Then learn to live on what is in your checking account and don't touch what is in your savings account - don't even think about it!

Answer 6

I save my money by each month I have it programmed with my bank to transfer so much money from my checking account and deposit it into an outside savings account, which I have no debit card for.  So to actually get the money out I'd have to either go to that bank and request it, or do a transfer out of my savings into my checking account.