how to save money

I think students like me can save a lot of money if they put a check on their cellphone expenses.Moreover if we start saving money ,initially though difficult,soon becomes like a habit.

Like most of the other answers have suggested, you need to have a budget. Itemize all of your necessary expenses such as rent, untilities, car payment, etc. Analize where the rest of your money goes. You have to budget realistically for food, gas, entertainment, clothing, etc. If you want your savings plan to work, you have to have a budget you can live with. If you deny yourself too many things, you will become frustrated with the whole thing long before your savings account has built up to an encouraging amount. If you eat lunch out everyday, consider bringing a lunch 3 days, and eating out 2. Treat yourself to that mocha latte once a week, not once a day. Set your initial savings amount at 10%. If you find you are adjusting to that nicely, then start making small increases. I don't know how much you make, but if possible shoot for saving $38 a week, or $166 a month. Here is the reason for that amount. It works out to be about $2000 a year - the amount you can contribute to an IRA account. Once you have just #200 in savings, take it to a investment advisor at your bank and ask to open a mutual funds account. He will explain what mutual funds are and put you in one with an acceptable degree of risk vs return. Your money should grow at a rate of 5% plus. Money kept in a savings account returns of rate of less than 1%. Also, by locking this money up in an investment, you are not as tempted to take it out. Now here is what is important about that $2000 a year. I am using a starting age of 35 because that is how I figured it out and that is when I opened my IRA. IF, you put $2000 a year into your IRA starting at age 35, and had realistic growth of 6% ave. per year (your money doubling every 7 years) AT AGE 65, you would have ONE MILLION DOLLARS IN PRINCIPLE! That million, could generate interest and divident income for you to the tune of $50 to $60 thousand a year, and you would still have the entire million in principle. Now that is a goal worth working toward. The numbers I gave you are not exagerated. Saving money is not the way to get anywhere. Start thinking of things in terms of your "investment" account. Investments are the way you get your money to work for you, as I have illustrated.

Budgeting your expenses is a good way to save. I'll tell you what I do: I calculate all my daily and monthly expenses and subtract them from my salary. Whatever's left of my salary automatically goes to my savings. That way, I only spend what I need everyday. But of course I treat myself once in a while, so if my savings have increased in time, I'll spend a small portion of it to buy something I want, one which I don't usually buy everyday. Remember, knowing what you should prioritize for your budget is important. And remember to discipline yourself and control yourself from spending too much.

you should be able to distinguish between 'needs' and 'desire' .... you must prioritize to complete / put out your money to meet the needs of your life, your desire can waived temporarily because desire can be fulfilled at any time

This is all you need to remember when you want to save money: don't bring your credit card with you and list down all your expenses. That's it. You're good to go

No matter how much to think bout saving money if you dont try to balance your expenses with your income you wont be able to save that much at all. First try to figure out what are the kind of things that you really need, then you try to curve some from what you buy like clothes and other stuff that you just want to buy.And try so set goals so that you know when your still in the zone or your spending too much already. Everything is just a matter of decision making and allocation. Have a great day

I think you should try to save at least 30% of your salary each month. Force yourself to keep aside this money and once it is safely kept away, do not think about it anymore as if you never have that money. Do this every month and you'll be surprise how much reserve you have in your savings.

I can give you a few suggestions to save money. 1. Decide on a target. Decide that you will save a particular amount of money every month. Make sure that you save that amount of money every month whatever happens. If there is an unexpected spending of money, then cut down of any other sutff like meat, snacks, travel, etc. to save money. The target you decide should be achievable. 2. Write down the expenses you make each day and once in a week go through the expenses to see where you spent extra and if it is possibel to cut down and save the money. Plan for your expenses of the next week according to that. I am sure that you can control your expenses if you really take an effort. Good luck.

I think the best way to save is to budget your money, setting aside what you need each month for your bills, and what is left, you can put into a savings account. That is what I am doing with what I earn online. Granted, it is hard to save these days, since things cost more and it takes more money to live on than it used to, but if you watch what you spend over and above your normal amount you put towards bills, then you should be able to save. I know it has been hard for me to save, up anything up until last month, but things are much better now, and I can save money easier now. I know what you mean about being poor though, as I have been that way for a long time. I have some money now, but not a lot, but I do have enough to last for awhile anyway, and I do get money every month on my fixed income, os that all helps too. Good luck to you and happy mylotting.

A penny saved is a penny earned.. I believe in this policy. There are many ways to do so.. First you need to cut down your extra expenses like purchasing unwanted materials.. If you are addicted to smoking or drinking stop that.. My single largest expense was smoking and i have reduced smoking for saving more money. Even i have curtailed on drinking.. And last but not the least whenever you need to go to a place that is in walking distance, always walk instead of taking a vehicle; It saves money as well as burns calories... :D Happy Mylotting....