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Author Topic: How can I save money???  (Read 1874 times)

mimphiskhan

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How can I save money???
« on: July 09, 2019, 07:34:14 PM »
Im looking to save more money overall. Im a 21 year old male and I work a decent job making 21.52/hr with full benefits. What are some skills I can use to save up some money? I spend very freely and dont have any trouble making bills but I have a really hard time saving anything. Before I know it my money is gone, usually from multiple smaller purchases.. Help!uc browser shareit appvn


« Last Edit: July 10, 2019, 01:24:43 PM by mimphiskhan »
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FIRE Artist

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Re: How can I save money???
« Reply #1 on: July 09, 2019, 07:36:01 PM »
Have a look at the Case Studies section, then go through the process of writing up your own.
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lollylegs

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Re: How can I save money???
« Reply #2 on: July 09, 2019, 07:38:01 PM »
start by keeping track of every cent you spend - every time you buy something make a note of what it was and how much you spent - its eyeopening!

work out your regular expenses - it you post some more detail of where your money is going here you'll get more specific advice on how to save more - work out a budget and it will help you see where you can save
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A Fella from Stella

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Re: How can I save money???
« Reply #3 on: July 09, 2019, 07:56:14 PM »
Quote from: mimphiskhan on July 09, 2019, 07:34:14 PM
Im looking to save more money overall. Im a 21 year old male and I work a decent job making 21.52/hr with full benefits. What are some skills I can use to save up some money? I spend very freely and dont have any trouble making bills but I have a really hard time saving anything. Before I know it my money is gone, usually from multiple smaller purchases.. Help!

Do not spend dollar bills.

Only use $5's and higher, then take singles and stash them away.

It will take discipline and you'll run out of money, so you may think it's okay to use the singles, but it's not. They are not for spending.
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Freedomin5

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Re: How can I save money???
« Reply #4 on: July 09, 2019, 08:02:27 PM »
I also second the idea of creating a proper Case Study. The folks here would be happy to give you advice specific to your particular situation.

Also, pay yourself first. Have automatic deductions set up so that a portion of each paycheck goes into your retirement and investment accounts before you even see a penny of that money. We’ve been doing that for the past five years and have seen our net worth double, and then double again. Read up on jlcollins stock series so you know what you should be investing in.
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