Guest GMoney Posted February 13, 2007 Report Share Posted February 13, 2007 The best way to save cash is have your job take money from your check $100 every week is the best and direct deposit to a new savings account. Heres the hard part close your eyes and dont even look at it, it will grow faster than you think. Remember pay yourself first! Also if you can take advantage of free money like 401k matches. Short term CDs are ok right now, my bank was doing a special of 6% for only a 11 month term way better than a savings, your not gonna get rich, but your not gonna lose it either. Stop eating out! Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted February 14, 2007 Author Report Share Posted February 14, 2007 I lived [nearly] paycheck to paycheck until about 18 months ago. My sister set up a financial plan for me and I stuck to it pretty well. I was having over 1k/mo taken out of my checks and placed in an annuities account. I never really missed the money since it just disappeared before I even got it. Now that I am in the process of buying and rehabbing a house, I dont save quite as much but that 18 months of sticking to my plan allowed me fund my recent ventures including the new car. I think most people out there, regardless of income, can create a significant dent in their overall debt and get out of the red with a fair amount of planning and a whole lot of discipline. Quote Link to comment Share on other sites More sharing options...
Orion Posted February 14, 2007 Report Share Posted February 14, 2007 i have no kids, i have no wife. i would consider those sound financial decisions. had i not recently spent about 5 months unemployed, i would not be living paycheck to paycheck. new job, time for me to start building again. Quote Link to comment Share on other sites More sharing options...
Trouble Maker Posted February 14, 2007 Report Share Posted February 14, 2007 new job, time for me to start building again. I didn't know you got job. Congrats. :woowoo: Quote Link to comment Share on other sites More sharing options...
6 Speed S4 Posted February 14, 2007 Report Share Posted February 14, 2007 Unless the market crashes.. then you're fucked. basically yeah. Not all my money is in there though. Quote Link to comment Share on other sites More sharing options...
87GT Posted February 14, 2007 Report Share Posted February 14, 2007 Roughly 1 out of 2 paychecks a month go to mortgage and all utilities. Then my other paycheck covers car, school loan, plus credit card, insurance, 401k. I only have $700 in my savings. I make like $400 profit a month. Nothing changes. Its been like this for a wile. But at least I am not married with no kids. Quote Link to comment Share on other sites More sharing options...
Guest Hal Posted February 14, 2007 Report Share Posted February 14, 2007 I had a little saved up, but that's pretty much gone since I left work. I'm starting to run a little short unfortunately. Quote Link to comment Share on other sites More sharing options...
John Bruh Posted February 14, 2007 Report Share Posted February 14, 2007 i have enough saved up were i can live a year on it comfortably. Quote Link to comment Share on other sites More sharing options...
thorne Posted February 14, 2007 Report Share Posted February 14, 2007 I've made some dumb purchases choices.... MONTE CARLO -- But ehh Up until this month I had about 3 months of pay built up. But in preperation for the house and paying off some school loans and new tires I'm down on cash to only about a month buffer. But I do have a Nice 401K and I'm still trying to get my ROTHIRA setup Quote Link to comment Share on other sites More sharing options...
black00ws6 Posted February 14, 2007 Report Share Posted February 14, 2007 Yes, paycheck to paycheck. But we choose that way, we send double mortgage payments each month, send extra to car payment, max out our 401k's every year, plus have a nice sized savings. Save as much as you can now, then retire at 45 Quote Link to comment Share on other sites More sharing options...
Orion Posted February 14, 2007 Report Share Posted February 14, 2007 I didn't know you got job. Congrats. :woowoo: thanks man, i appreciate it. Quote Link to comment Share on other sites More sharing options...
Jelloman4571647545499 Posted February 14, 2007 Report Share Posted February 14, 2007 week to week...by choice. I am now paying off my schooling. I paid off my car and paying off my credit cards. I will be done in october of 07 with the plan I wrote out. Also while doing this I have 5% going to a 401k that the program matches, and 15% of my weekly income goes into two savings accounts.. In case there is every a problem one is directly feed into my checking to put it over the top so no overdraft fees. Plus I pull out $100.00 a week for spending money and gas. My rents raised my brother and I like that so we wouldnt be broke. It just took me 2 years of making bad desicions to figure out they were right. I set the toys aside for now cause I would much rather have a good beacon score than a car this season. Quote Link to comment Share on other sites More sharing options...
Primera Posted February 14, 2007 Report Share Posted February 14, 2007 I have all my bills paid off in one weeks pay from my FT job. I also have a PT job a couple days a week so I'm banking a good amount, ATM. I'm saving to goto school down in Florida so I'll be broke again after I get out of the lease I'm in. Quote Link to comment Share on other sites More sharing options...
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