8 answers
Audrie
Student
Yuma, Arizona
1
Question
Asked
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Hey y’all?
How can I start saving money on stuff even though I spend money a lot
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8 answers
Grace Richards Dittman
Human capital director
2
Answers
Pittsburgh, Pennsylvania
Updated
Grace’s Answer
Many people spend money on things they don't really need, like fancy coffees or dining out. Try to skip these when you can, and you'll be surprised at how much you can save!
Isabelle
Student
Fashion design
Melbourne, Victoria, Australia
0
Questions
Updated
Isabelle’s Answer
What I do whenever I get money I have a place for saving and a place for spend say I get 200 dollars I save 100 and spend 100
Rebecca Tang
Banking
2430
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. It is a good time to learn financial planning.
Firstly, you need to understand 'What you need' and 'What you want'.
What you need - This is vital expenses, e.g. school fees, transport, meals, etc.
What you want - This is nice to have expenses, e.g. Trendy Sneakers, clothes, etc. Jewelry, etc.
You can divide your income into 3 parts:
1. Expenses on What you need
2. Savings
3. Expenses on What you want / Investment
Hope this helps! Good Luck!
May Almighty God bless you!
Firstly, you need to understand 'What you need' and 'What you want'.
What you need - This is vital expenses, e.g. school fees, transport, meals, etc.
What you want - This is nice to have expenses, e.g. Trendy Sneakers, clothes, etc. Jewelry, etc.
You can divide your income into 3 parts:
1. Expenses on What you need
2. Savings
3. Expenses on What you want / Investment
Hope this helps! Good Luck!
May Almighty God bless you!
Rebecca Aidoo
Fashion specialists
21
Answers
Accra, Greater Accra Region, Ghana
Updated
Rebecca’s Answer
It’s good that you’re thinking about saving at this stage. I’m glad you’ve become more self-aware and conscious about your spending habits that’s honestly the first and most important step in financial planning and management.
To cut down on costs, start by listing your needs in order of importance. Separate your primary needs (things you truly need, like food, transport, school supplies) from your secondary needs (things you want but can live without). When you rank your expenses on a scale of preference, it becomes easier to see where your money should go first.
For example, if the items you want to save money for are very important to you, put them at the top of your list and treat them like a “must-pay” expense. Everything else comes after. You can also set a small savings goal, saving a little consistently is better than waiting to save a large amount later.
Another helpful habit is tracking your spending, even if it’s just noting what you spend each day. This helps you identify patterns and areas where you can cut back. Lastly, try to pause before buying something and ask yourself, “Do I really need this right now?” That simple question can help you spend more intentionally over time.
To cut down on costs, start by listing your needs in order of importance. Separate your primary needs (things you truly need, like food, transport, school supplies) from your secondary needs (things you want but can live without). When you rank your expenses on a scale of preference, it becomes easier to see where your money should go first.
For example, if the items you want to save money for are very important to you, put them at the top of your list and treat them like a “must-pay” expense. Everything else comes after. You can also set a small savings goal, saving a little consistently is better than waiting to save a large amount later.
Another helpful habit is tracking your spending, even if it’s just noting what you spend each day. This helps you identify patterns and areas where you can cut back. Lastly, try to pause before buying something and ask yourself, “Do I really need this right now?” That simple question can help you spend more intentionally over time.
Ashten Walker
Retail Leadership
2
Answers
Updated
Ashten’s Answer
Creating a budget is very important. Start with your net income and subtract the expenses you must pay, like your phone bill, car costs, insurance, rent, gas, and groceries. What is left over? Decide what you need and what you want. For instance, compare how much you spend on dining out versus cooking at home. Look for expenses you can cut down. After covering your needs, see how much you can spend on yourself or save. You can lower costs by finding a cheaper phone plan or shopping at a less expensive grocery store. Begin with these small changes.
Yoav Traeger
Bid Manager
95
Answers
Kiryat Ono, Tel Aviv District
Updated
Yoav’s Answer
It is completely normal to find it hard to hold onto your cash, especially when there are so many things out there competing for your attention. The fact that you are recognizing this habit now shows you have a lot of self-awareness, and that is honestly the first and biggest step toward getting where you want to be. A great trick is to start small by picking just one category where you spend the most, like snacks or online games, and trying to cut that back just a little bit each week. You might also find it helpful to wait twenty-four hours before you buy something you really want; usually, that urge to spend fades away once you give your brain a moment to cool off. Another easy way to save without thinking about it is to put a specific, small amount of money into a separate spot the second you get it so you do not even see it as available to spend. Remember that saving is a skill like anything else, so do not be too hard on yourself if you have a slip-up here and there. You are totally capable of taking control of your finances, and you have got a bright future ahead of you if you keep this mindset. Good luck.
Nick Ford
Systems Engineer, Cloud Computing
1
Answer
Houston, Texas
Updated
Nick’s Answer
So, you spend money "a lot" - well, that's pretty common. I'm going to assume you aren't able to save any money, but you have lots of lovely "stuff"
Rule 1. Don't go into debt for stuff. Debt is for the essentials in life.
Rule 2. Do you need the stuff? Can you afford the stuff? Wait 24 hours and see how you feel.
Rule 3. Are you using the stuff you already have? Does it make you happy, or did you just like the acquiring process
There's lots of great advice about budgeting, saving, necessary expenses and so forth, but you also need to look a little inside yourself and figure out why you want to spend.
Maybe for some of the stuff you want to buy (not all of it!), just put that money in a bank account instead, preferably one that doesn't have a debit card attached and is a little harder to access.
Rule 1. Don't go into debt for stuff. Debt is for the essentials in life.
Rule 2. Do you need the stuff? Can you afford the stuff? Wait 24 hours and see how you feel.
Rule 3. Are you using the stuff you already have? Does it make you happy, or did you just like the acquiring process
There's lots of great advice about budgeting, saving, necessary expenses and so forth, but you also need to look a little inside yourself and figure out why you want to spend.
Maybe for some of the stuff you want to buy (not all of it!), just put that money in a bank account instead, preferably one that doesn't have a debit card attached and is a little harder to access.
Ella Melzer
Project Manager
12
Answers
Knoxville, Tennessee
Updated
Ella’s Answer
Hello! I also spend a lot of money! Things these days are really expensive and I like things. The best advice that someone gave me around money is to "give every dollar a job". Hopefully you have a way to make some money whether it's a job or an allowance, but once it comes in make a plan for every dollar and set up goals for things you want to fund.
Then when you look at your bank account (or stack of cash) you know exactly what every dollar is there for and how much you have ready to spend.
If you want to save money, I suggest to start a goal for how much you want to save and be specific on what you are saving it for! If you are saving money for a new iPhone then make that a goal and give some dollars the job of "iPhone savings" if its something bigger, set a goal and put aside a little a month or week or day in this category.
This process is described as the "YNAB Method" and more info can be found here https://www.ynab.com/ynab-method and while this is targeted more to adults, you can start today giving every dollar a job!
Look at your bank account or stack of cash and determine what HAS to happen with it before you get more money and immediately set that money aside (give those dollars their jobs) in a category either literally with cash or with a budgeting tool (spreadsheet, app, etc)
Determine how much a month you want to spend on things (eating out is a great one to start!) and create a category for that with target
Next time you get more money look at your categories and give those new dollars jobs!
Then when you look at your bank account (or stack of cash) you know exactly what every dollar is there for and how much you have ready to spend.
If you want to save money, I suggest to start a goal for how much you want to save and be specific on what you are saving it for! If you are saving money for a new iPhone then make that a goal and give some dollars the job of "iPhone savings" if its something bigger, set a goal and put aside a little a month or week or day in this category.
This process is described as the "YNAB Method" and more info can be found here https://www.ynab.com/ynab-method and while this is targeted more to adults, you can start today giving every dollar a job!
Ella recommends the following next steps: