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what is the best way to save money when you live pay check to pay check?

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toodles0420

Asked by toodles0420 at 9:15 PM on Sep. 29, 2010 in Money & Work

Level 4 (53 Credits)
Answers (18)
  • We just cut out all extras, which were all little things - stopped stopping to buy a soda, coffee here and there, stopped buying a bag of hershey kisses when I wanted chocolate, stopped renting movies. Anything that wasn't necessary we cut out to get our savings built up.
    JamieLK

    Answer by JamieLK at 9:19 PM on Sep. 29, 2010

  • Look into making a "zero balance budget" :)
    Kword

    Answer by Kword at 9:19 PM on Sep. 29, 2010

  • Cut out all that is not need to survive.. Ex: junk food, smokes,beer, coffee,take out lunches or dinners.. Cable, Internet, etc.. Pay off your debt, if that is what is keeping you pay check to pay check.. Pay yourself first.. Put at least 10 percent of your check in a separate account if possible and don't touch it.. There are lots of ways.. Be creative, only you know what is realistic..
    midnightmoma

    Answer by midnightmoma at 9:20 PM on Sep. 29, 2010

  • Thats some good advise. Going to be hard when your husband has fishing and hunting hobbies.lol
    toodles0420

    Comment by toodles0420 (original poster) at 9:21 PM on Sep. 29, 2010

  • Paying off your bills. Cutting out luxeries that aren't benefiting your neccessities getting paid off.
    Paying off your bills IS saving you money. The less you leave to cloud in debt the better you are in the long run. Even if you pay off every bill at the end of the month without any late fees, over draft fees, or unpaid bills, you are still saving money. Because you're not creating debt that will cause you a red line on your credit for eternity.

    Cutting out luxeries like cable, expensive cell phone packages, going out to eat often, ordering out, shopping sprees, etc is important. If you don't NEED it to live, you don't need it period.
    JazzlikeMraz

    Answer by JazzlikeMraz at 9:23 PM on Sep. 29, 2010

  • If you live paycheck to paycheck and don't have any left over then I'm afraid saving is going to be very tough..... I have always tried to live by the pay yourself first attitude... If you make 500.00/week then pay yourself 10% of that each week. Or do it monthly if that's easier, and have it automatically transfered into a savings account so you don't see it...
    MrsLeftlane

    Answer by MrsLeftlane at 9:28 PM on Sep. 29, 2010

  • I never spend change. All of it goes into a jar and when it is full it gets rolled and put in the bank. You won't miss the change and it will help you save cash.
    CorrinaWithrow

    Answer by CorrinaWithrow at 10:40 PM on Sep. 29, 2010

  • Top 10 Ways To Lower Your Car Insurance Bill


    Read #3.  Go high on deductibles

    musicmom08

    Answer by musicmom08 at 10:51 PM on Sep. 29, 2010

  • Have a certain amount, start small, taken out per check toward a saving account.
    If you pay more than you should on vehicle insurance or payments, see about getting them lowered for the time being.
    Drive 60mph ...saves fuel believe it or not.
    Keep your vehicle maintained to not rish higher bills in the future if you drive it as is and its tearing up.
    Save change in a jar (as mentioned above)..roll it at the end of the month and dump into savings.


    Look into Dave Ramsey.
    CandyHorse

    Answer by CandyHorse at 11:19 PM on Sep. 29, 2010

  • He could do the fishing and hunter seasonal only or, once every 3 months or pick one and stick with it for the season/year.

    Car pooling is another.
    CandyHorse

    Answer by CandyHorse at 11:20 PM on Sep. 29, 2010

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