It seems like any money I should save I spend as soon as I make it, like I tell my self oh you need this or that. Which I do but I have a day job for that. Does anyone else have this problem? How do you save your money?
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It seems like any money I should save I spend as soon as I make it, like I tell my self oh you need this or that. Which I do but I have a day job for that. Does anyone else have this problem? How do you save your money?
BAH I HAVE THE SAME PROBLEM.
There's always SOMETHING I need to purchase. Whether it's gas, or meds, or groceries. I had a lot easier time saving when I already had a couple thousand saved, then I took a few months off from dancing, spent it all and I'm broke and can't seem to save the huge amount of money I make every week.
This is what I'm trying this week: I'm working as many days in a row as possible so I have a chunk of money to put aside to save, and then the necessities I need, I'll spend the money I earn after say, 3 days of work and WRITE DOWN every single purchase so I can see exactly where I'm spending my money. Then somehow come up with a plan from there...but I do need some serious financial advice...esp for someone who knows nothing about finances, etc. I live week to week right now basically, barely making my rent and car payments on time...
I do the same. I find that at times when I feel especially down about things in my personal life related to stripping, I have a terrible urge to spend money.
The only way to save is just to do it. As I leave work, I stop at the ATM and deposit my cash. It has really been a godsend for me. I put it directly in my savings account. When I go shopping, I am forced to transfer money from saving to checking right there in the store. Just going through that has prevented me from buying things. Sometimes. ;)
Like Fionatulip- it is easier for me to get started when I have a significant amount of money in savings. I always have the most amount of money in savings after tax time. With all that money sitting in my account, I just enjoy adding to it and watching it get bigger. I did incredibly good this past year until I got sick and had to use that money for living expenses. Now I'm trying to get back on track.
^ Yeah, I always went straight to the ATM when I got out of work, no matter what time that was, and deposited my cash. Then I started seeing how high I could get the balance in my bank account, and it's always fun to see the digits grow and grow. It becomes almost like a game, and before you know it you've got like ten grand just chilling there because you haven't gone shopping in like two months.
Another technique is to have separate checking accounts at separate banks, and only have a debit card for one of them--and that's your spending account. Put a certain amount of money for spending in that account every week, and then if you're out and want to buy something big, too bad--and you can't immediately transfer money between banks, because it often takes a couple of days for that, especially with douchebag banks like Bank of America. So you have to wait a few days before you can buy it, and then maybe you'll have time to think about whether or not you really want it. Nips the whole impulse buy thing in the bud.
Great suggestions. There have been times I have waited to buy things and after I while I just let it go. Thing is, instead of just leaving it in the bank I spend it on something else. I could never go two months without shopping- that would never happen. LOL I just can't function without it.::)
i used to have the same problem.
its better now that i dont go hang out at a shopping mall with money on me. i try not to keep it on me other than necessities like food n stuff coz ill spend it. my uni schedule is heaps busy though so i dont have time
I honestly look at the money I put aside for savings and say "I will NOT spend this money". In my head, I make that money out to be sacred and not to be used unless I am in a complete emergency. I have some thought that at this point, the money is so sacred that I just won't use it at all...
What firemaiden suggested about putting your saving money in a separate account that you wouldn't be able to get money out of for a few days is pure gold. The easiest way to save money is to not have it/act like you don't have it to spend. I used to blow through money really quickly on stuff I "needed" but when I started pulling in a lesser income at a different job, I quickly realized that there were so many things that I wanted and would be nice to have, but were not actually needed right now. For instance, right now, I would totally dig new, thicker curtains, a trash can for the kitchen, a new toaster, bathroom mats, a new microwave (mine is dirty beyond cleaning and is missing the rotating plate), and a blender. Back when I had stripping income, I would have gone out and bought all this stuff in a day without batting an eye. But now that it would actually matter to my bank account, I realize that my curtains are fine for now, I can actually do just fine without a trash can in every room, I don't need to eat toast, towels work just fine on the bathroom floor, my microwave is still functional so it doesn't have to be beautiful, and a blender is a luxury... When you're really hard-pressed to save where you can, you really start re-thinking how much you actually need certain things. Even things like food - when my parents were helping me out, my grocery bills were like $100 every two weeks - lately, I've never spent more than $30 at the store because I'm much pickier about what I really need to survive healthily.
Try setting aside the money you absolutely NEED (rent, bills, gas), put yourself on a budget for groceries and "fun," and then put the rest in a hard-to-access account. Making yourself take the time to think for a moment "Do I really need that right now?" will usually get you to see that, no, you really don't.
i hav the same problem, theres always summert to pay for atm, an my savings have been crippled, i want to rebuild it, but i make my money and its gone by the time im on next shift. its annoying, even if i do realllllly well, its gone! coz sumthing needs paying for, grrrr, life dont give breaks does it haha.
hopefully things will stop breaking an need fixing then ill save up again lol.
xx
I used to have the same problem, but now I'm saving $1000-$1500 a wk. What I do is I have this money bag (just a zip up bag) that I put most of my earnings in every night. I take out between $15-$20 out of my nightly earnings...just enough to get me by until the next time I work. Then at the end of the week I deposit all that hard earned money$$$$. I try to avoid the stores unless I positively need something. Before you buy anything ask yourself, "Do I need this right now, or can I get by without it?" Most of the time you can skip it. I've also saved so much money by going to the dollar store and picking up things. You'd be surprised what you can find there! Sure it may be cheap stuff (obviously) but some things are fine generic.
I opened a safety deposit box at my bank. Every night I would put a certain percentage of my money in an envelope for saving. Every week, when I made my deposits I would put my savings in the box. It's quite a hassle to get in and out of my box and it's only accessible during bank hours, so that helps keep me out.
i would go straight to the atm after work to deposit my money. I would keep enough for my bills and every time i had 500-1000 over that amount it got transfered to savings. now ive paid for school am not working at all and being comfortable for the semester :)
You need some savings goals. Put at least 15% into a retirement fund.
As dancers I still don't think that is enough, but that should be the minimum.
It's not unrealistic for a dancer to save up to 50% of what she makes.
I *try* to lead a frugal lifestyle to save money.
I find inspiration in different frugal articles and sites like this one:
http://frugalliving.about.com/