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What is the smart way to save money on your own for rainy days or an emergency?

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Anonymous

Asked by Anonymous at 10:29 AM on May. 1, 2009 in Money & Work

Answers (9)
  • When I go gorcery shopping, I always get 5 dollars plus the change and set it aside. My husband has been designated the coffee purchase-er for his office so he brings home the change and I just purchase it on the debit card... my husband's not interested in change but it adds up... I counted it the other day and I've got about 21 dollars in change alone.
    Crystal1124

    Answer by Crystal1124 at 10:36 AM on May. 1, 2009

  • the way we do it, is when my husband gets his check and we pay our bills then spend only a certain amount a week on groceries or any other things. what ever is left out of his check, we put away for emergencies.
    SThompson21

    Answer by SThompson21 at 10:46 AM on May. 1, 2009

  • Put at least ten dollars a week in a savings account.
    Make a weekly budget and stick to it.
    Before you go to the grocery store, make your meal plan, including snacks, for the next week. Only put the items that you need on the list. Only buy what is on the list.
    Drink water. No one needs soda, juice or milk.
    Instead of meat, eat beans and lentils.
    Instead of canned beans and lentils, cook dried.
    rkoloms

    Answer by rkoloms at 12:06 PM on May. 1, 2009

  • I've just started getting cash back when I pay for my grocery bill, and just take that cash and put it away, and I forget about it. That's an easy way to set it aside.
    Anonymous

    Answer by Anonymous at 12:35 PM on May. 1, 2009

  • I know how much money my family needs every month. When I balance the check book once a month I take any amount over our monthly needs and move it to the savings account. I feel like I don't have extra money, so I don't spend extra. This works best if 1) you are a natural born cheapskate. 2) you don't think about raiding the savings account 3) you actually have money left at the end of the month. If having the money available in a savings account makes you crazy and you have a mortgage then whenever you get so much in the savings that you start thinking that you just have to spend it, go pay down your mortgage.
    Anonymous

    Answer by Anonymous at 12:45 PM on May. 1, 2009

  • I take $50 out of EVERY pay day and put into savings account. I also have my sons child support auto put into my savings account. I also work online and the money I make with it, I send it to my savings account. All this does add up!
    SweetKYmom

    Answer by SweetKYmom at 1:31 PM on May. 1, 2009

  • Do something simple on the side to make a little extra money and set it aside. I sell Avon and have several people who do this. If you're interested email me!
    usbornebooksdh

    Answer by usbornebooksdh at 1:40 PM on May. 1, 2009

  • I put almost my whole tax refund into savings and don't touch it.
    ria7

    Answer by ria7 at 3:33 PM on May. 1, 2009

  • We used to put money in a savings account every time my husband got paid. We did it religiously- you know kinda like it was a regular bill. Then we figured it was a waste of fuel to go twice a month, so we started going once a month, and just putting twice the amount in. KWIM?


    I think savings shouldn't be a "see what's left over" type of thing. I think you should commit to putting "x" amount in every month, and that's just that.


    Anyway, for the month of May One day of Peace, is having a segment on Peace through personal finances.  We've got lots of groups helping out and lots of tidbits, advice, etc. I hope you'll check it out!

    Erica_Smerica

    Answer by Erica_Smerica at 4:26 PM on May. 1, 2009

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