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How do I save for college and retirement when we don't have much money

I need all the advice I can get on this. I am not good with managing money and despreately want to get better. Please help me. Any ideas, support, suggestions, websites, anything that can help me I will gladly take!! My profile is private, but if you feel better just sending me a message on this, I am completely ok with that.


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Asked by theatregirl26 at 11:35 AM on Sep. 16, 2009 in Money & Work

Level 3 (14 Credits)
Answers (7)
  • Save little by little. $5- $20 a week whatever you can save, every dollar adds up.

    Answer by bluerose26 at 11:38 AM on Sep. 16, 2009

  • I agree with bluerose26. Even if you save $5, $10 or $20 out of every paycheck it will add up. The goal is to save 10% of your paycheck. If your not good at saving money you can open up a savings at a bank other then your primary bank. This way you won't be tempted to transfer from your savings to your checking. Maybe even a ING account, you can do this online.

    Answer by Jguevara at 11:59 AM on Sep. 16, 2009

  • I make extra money working online. I've cleared over 14k in the last year, it's not a way to get rich, but you can avoid retail/fast food jobs by doing it. You can see what I'm doing at if you're interested. (Everything posted is free)


    Answer by customcat2000 at 12:52 PM on Sep. 16, 2009

  • Does your place of employment offer any type of savings or retirement plan? That is the best way to do it.

    Answer by m-avi at 12:59 PM on Sep. 16, 2009

  • They do. In fact I put 6% and the match at 9%. But still, I am 35 and with starting late I need to suppliment for the family. My hubby has retirement plan as well, but still. We want extra and we also want to start saving for our kids college fun. They are 3 and 4 months. Thanks. I will look into the ING account. Good thought. To do the ROTH I need to put aside $100 a month (which I really want to make happen) as well as whatever for the college fund. We just don't make much.

    Answer by theatregirl26 at 1:09 PM on Sep. 16, 2009

  • Maybe try something on the side...a job from home to bring in some extra $$$. My household runs off my hubby, so all my income is just extra money in the bank.

    If I can help with any questions, just let me know. If you're just wanting to go from what you have...all the advice so far is good too. Maybe have an auto-deposit of X amount each month into an account just for savings that you don't touch. Maybe open a different account just for this purpose so it'll keep the fingers out of the cookie jar. :-)

    Answer by NicoR at 3:33 PM on Sep. 16, 2009

  • I am a stay at home mom to my 23 month old son. I joined Internet CEO Moms a while ago and I have to say it's the most positive experience! I work with an amazing group of moms who are very dedicated in helping other moms work from home and becoming financially independant. The training is free and the support is unlimited!! No selling, parties, or inventory. It is a very fun and flexible business and I love the fact that I can work when I want and most importantly, be there with my son through all his milestones.

    Check out my website

    I would be happy to give you more information and introduce you to the business!

    Alyssa Maliska

    Proud Member of CEO Moms

    Answer by alyssamal at 8:53 AM on Sep. 17, 2009

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