5 answers

I have a great spending problem. Everytime that I do save up $200 bucks or even more somehow I end up having to use that money for school , books for class or my friend needs financial help or it's just personal things I need to buy. I also have a phone bill to pay because I am currently living at home while I go to college . In the end I feel like I always up not having enough at the end of day . Is there a way I can save more money. I'm trying to save for a car and possibly move by next fall 2019. I don't know what to do or where to start . A budget plan or even some advice would be greatly appreciated . Thanks 😄

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5 answers

ROBIN’s Answer

Updated Lake City, Colorado

I suggest beginning with budget planning based on your expected income and fixed expenditures. Plan to put at least 1/2 of what you earn into savings. Remember that you are not a bank for your friends and redirect them to other choices for a short-term loan (such as their parents). It is important to reserve some money to have in your pocket for entertainment (e.g. movies or dinner with friends). If your "soft" money is leftover at the end of the week, or month, you may transfer the "bonus" into savings. Set goals and monitor your progress in achieving your goals. It is important to learn to recognize your "wants" from your "needs". "Wants" come from your "soft" money. Also, it is important to say "no" to friends and even to yourself at times. Focus on your desire to become independent, not on the fear of not ever having enough money to buy a car or get an apartment. Some create a vision board as a daily reminder of goals with photos of the car you hope to have one day along with other dreams. Good luck in learning about your personal financial management.

Chrisie’s Answer

Updated Lubbock, Texas

Topic most people struggle with! I used to have the same problem and I was able to conquer this by starting small.  First setting up a budget, what you bring in versus what you have to pay.  Then what is left put half into savings and use the rest to spend.  That "spending" money will include the fun times/needs.  When it is gone it is gone.  The goal is no matter what happens not to touch the money you put in savings.  It will teach you to be "Froogle" with money, teach you that name brands are not as important as you use to think.  When I was teaching my daughter about how to save we both still use the app "Digit" it automatically takes money from your account.  If you have $10.00 it will take cents! but it is always working to save.  You can with drawn when you need but it takes a few days to get back so it removes the need for instant gratification.  It will help slow down spending and increase your ability to save.  Starting small. 


I hope this was helpful! Good luck!

Samantha’s Answer

Updated Houston, Texas

Try using a free budget planning website such as mint.com. It links all of your accounts so you can track your spending. You can set goals within your account. It is a really fun website to play with. When I was in college I had a dificult time saving also. Being able to see where m money was going and setting a goal and tracking progress was extremely helpful.

Samantha recommends the following next steps:

  • Check out Mint.com

Madeline’s Answer

Updated Cranberry Township, Pennsylvania

A lot of people struggle with spending wisely and saving-especially while in college. My advice to you is to decide an amount of money from each paycheck you receive, and put that money in your growth account (if you have a bank account; get that banks app to make this easier). My next piece of advice is to create stronger boundaries, regarding friends and money. If your friend needs you to pick up something small for them, that’s an ordinary request. But don’t feel as though you must help a friend out just because they’re strapped for cash. You earned your money!


If you want more info on how to calculate how much you need to save, you can contact your bank.

Montressa’s Answer

Updated Wilmington, North Carolina

I would suggest setting up a separate bank account that the bank isn't close by for you to withdraw from. Also if you get a card for it give it to one of your parents in case something happens like a storm and you have to evacuate quickly. Also there is a website called Mint.com you can go there and set up your budget see where your money is going.