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How do you save money from your monthly income?

  1. dscarcha profile image60
    dscarchaposted 5 years ago

    How do you save money from your monthly income?

    Your answers may be featured to my next article.

  2. ienjoythis profile image83
    ienjoythisposted 5 years ago

    Use cash instead of plastic! Take out a certain amount of cash per week for spending. And do not go over that. Everything else should stay in your bank account. By using cash, you are forced to evaluate your purchases more so than you would by using credit or debit.

  3. duffsmom profile image60
    duffsmomposted 5 years ago

    We have always been paid twice a month, and in order to save, money has to be taken first right away, and paid to the bank with the same dedication you would pay the cable bill or mortgage payment.  Start out small, just a few dollars and when you adjust to that, make it more.  But pay yourself first, put a little in the bank every paycheck.

  4. profile image55
    bloganposted 5 years ago

    Have a percentage of your pay direct deposited into a savings account. Out of sight, out of mind.

  5. lburmaster profile image83
    lburmasterposted 5 years ago

    By comparing prices on everything, using coupons and having a limit to spend on food every two weeks. Having a car that only takes $40 to fill up is nice too. I only eat out once a week which really helps. Shopping for clothes has it's own limit as well.

  6. beherdtennis profile image79
    beherdtennisposted 5 years ago

    Automate, Automate, Automate! by creating automation to take money from one account and put it into another, or into an investment account, you will save money without getting in your own way. so many people start a savings plan, but then begin to cheat on it, or come up with reasons(excuses) to skip a month.

    one great outcome of saving money from your monthly income using automation is if you put it towards investment vehicles such as mutual funds, stocks, bonds or a Roth IRA is taking advantage of dollar cost averaging.

    when you automate, you dont even miss the money that is redirected to other accounts, and you will naturally adjust to live with the money that is left over.

    i write extensively on saving money, check out my hubs, or my blog at stewardology.org