[chirleyrene]

I really need help on how to manage and save my money, every time I try to save my money, I'll end up spending it, I try my very best, I'll put up like a 100.00 a week and then end up spending it, I make enough money to save but just don't know how, Can You Please Give Me Some Advice on how to manage and Save, I really need it!! Help!!

[Krs]

What's your monthly income?
And what's the total of your monthly outgoings?

[chirleyrene]

My monthly income is 2,400 monthly and I pay all utilities in the house and buy the personals in the house, I pay my credit card bills, which I only have three, but one is open and the rest are closed, I just want one credit card from now on, I pay my car note, cell phone bill, and try to just put like a 100.00 in my pocket and that's just for gas and lunch money for work, but I end up spending unecessarily.

[Krs]

What me and my husband do is add our income, immediately deduct our mortgage, then pay off our monthly bills, what is left (which these days isn't a lot at all) we share between 2. So we are careful what we spend our money on as we can't even afford to save these days.

[ScottGem]

The first part of planning is budgeting. I would suggest getting a program like Quicken or MS Money and RELIGIOUSLY record each expenditure. Make a budget of your fixed expenses, then add some non fixed expenses (going to dinner, a movie etc.). Include saving as part of the budget. Transfer money into a separate account for savings.

TRy to make sure you stay under budget (for the year) in each budget category. For example, if you allocate $50/mth for eating out, and you only use $25 one month then you have a cushion for the next month. If you hit the $50, then you can't go out the rest of the month.

Savings takes discipline so you have steel yourself not to impulse buy. Also take advantage of forced savings like 401(k) accounts at your job (for retirement savings).

One other, unrelated tip. We know you want advice since you are posting a question. So a subject line like; Want Some Expert Advice, is redundant. Use the subject to describe your question like "How to Save Money" would have been a better choice.

[chirleyrene]

The first part of planning is budgeting. I would suggest getting a program like Quicken or MS Money and RELIGIOUSLY record each expenditure. Make a budget of your fixed expenses, then add in some non fixed expenses (going to dinner, a movie etc.). Include saving as part of the budget. Transfer money into a separate account for savings.

TRy to make sure you stay under budget (for the year) in each budget category. For example, if you allocate $50/mth for eating out, and you only use $25 one month then you have a cushion for the next month. If you hit the $50, then you can't go out the rest of the month.

Savings takes discipline so you have steel yourself not to impulse buy. Also take advantage of forced savings like 401(k) accounts at your job (for retirement savings).

One other, unrelated tip. We know you want advice since you are posting a question. So a subject line like; Want Some Expert Advice, is redundant. Use the subject to describe your question like "How to Save Money" would have been a better choice.

thank you for your advice and yes I do have 401k at both jobs

[ScottGem]

A 401k is one of the best saving vehicles around. But for long term savings. Most include some sort of company match which therefore gets you a large return right there.

[gazelleintense]

Links in my sig can help.

Get on a budget, track where your money is going. Make sure income is greater than outgo... if it's not, cut your lifestyle, sell stuff to get debt free, commit to never borrow again. Getting out of debt is tough work, but it is doable.