Austin
What are good ways to save/make money?
I know we all have a hard time with money and school and bills. Does anyone have some good advice on how to save and then continue to save. I have had a savings account for a good year now and it just seems like I am not making enough money to even put money in my savings account.
and how do you deal with not being able to do something because of your financial status? How can we socialize and be happy when all these bills and school work keep falling down on us.
#money #saving #expenses #college #job #financial-planning #personal-finance #money-management
6 answers
Mukhlis Aziz Chawla
Mukhlis’s Answer
There is a lot of advice out there on saving and budgeting. At a young age its not that fun but if you can adopt a few principles of these you can really set yourself up for success in the future.
My recommendation would be to pay yourself first. This means if you want to put $100 away for savings each month put that in there instead of paying your bills first and putting whats left in savings. If you need to cut things figure out where that can be. High grocery bills? Is it time to cut the cord (just did it. Best thing I have done)? Do you have a Starbucks problem?
Is it time to pick up a side hustle? We watch dogs through Rover.com and have been very happy with the extra income.
It's not always fun to be on a budget or saving but it's worth it.
James McDuff
Haley Collins
Haley’s Answer
First of all, this is a very normal question and struggle that everyone deals with to varying degrees at all stages of life. Everyone has to make sacrifices day-to-day as to fun activities they can partake in, whether they can go out to eat or cook at home, or even going to Starbucks instead of brewing a cup of coffee at home.
I agree with some of the other responses here that the best way to keep track of everything is to keep a budget. This will let you be able to set goals for your self, see where you can cut back if you want to try tot save more, and just generally see trends with your spending habits (for better or worse). The awesome thing is that there are a myriad of completely free budgeting websites, apps, tools, etc. that can help you create and keep track of a budget so that you can reference it quickly and efficiently.
Additionally, try nix the thought of "I don't have enough money to save to make a difference". Any amount of money you can save instead of spend is a HUGE advantage and you should stick with it. Not only will is grow over time the more money you add to it (though it might only seem like a little), it's also a phenomenal habit to develop. As you progress though life, you are going to want/ need to save for more and more things (car, vacation, home, retirement, etc.) and if you can instill the willpower and dedication to save in yourself now, it will make it much easier to do so later on.
So please do not get discouraged! Stay the course and know you are not alone in this. I hope this helps and encourages you to keep going!
Kortnee Burrell, M.Ed.
Kortnee’s Answer
I agree with James regarding cutting out unnecessary costly habits and substituting what you would spend at Starbucks by instead depositing the money into a saving's account. Another way you can make money is performing "odd jobs" (by today's standards) such as online blogging, tutoring, digital marketing, etc). Though, I would recommend you visit the Career Center at your campus to search for available part-time jobs. One last suggestion I have for you is to search for scholarships as a way to earn free cash. Please consider visitng the following links to check out free scholarships:
www.scholarships.com
www.unigo.com
www.fastweb.com
Remember not give out your credit card information on give cash to scholarship organizations and/or individuals. Best of luck with saving money and earning free cash!
Regards,
-Kortnee B.
Daniel Episcope
Daniel’s Answer
A good book to read is 'I will teach you to be rich' by Ramit Sethi
Good luck!
Clarissa Fong
Clarissa’s Answer
Serge V. Vaval, M.P.A.
Serge V.’s Answer
Hi Austin,
The best way to save money is to have a budget. If you have a budget, you can save money and enjoy your money you worked hard for. Write down every bill you have and pay those off first. Have a goal to see how much you want to put away for the bank every month. if you have some extra money, feel free to go out and enjoy yourself bc we all need our "me time."
Serge