Assuming you save, what method do you use? I can only think of a few, and I mix it up.


What I've been trying to do is set aside a flat percentage of every paycheck that I just put directly into a savings account. Also, every 1 dollar bill I get, I don't spend. I just put it in a piggy and forget about it.


I used to just try and moderate my spending and save whatever is left over at the end of that pay period, but I found that I didn't save enough that way and setting it aside before hand is much better. Takes more discipline but its worth it.

 

My main savings is in an IMA (Investment Management Account) with M&T Bank. I made over 20% last year

 

Like sharebuilder?

 

I spend less

 

Well I've got a 401k thats averaging 15-20% but I'm just talking about rainy day money, or money you're saving for a down payment on a house, car, plasma tv, etc.

 

I've set up an automatic deposit from my paycheck every pay cycle into savings. it doesn't have to be a large amount, even $20-50 depending on how much you make and how many pay cycles you have every month. I've started only drinking on the weekends and when I DO go out, I be sure to get started at home base. You end up saving money like that. For every $12 cocktail you have at the bar you could have had AT LEAST a six pack of good beer at home. If you have bad habits, like smoking, quit. That's a savings right there. Did that myself a few years back. Instead of getting coffee from Starbucks or Coffee Bean every morning I perk a pot when I get to work. I try to bring a lunch a few times a week so I'm not always eating out. There's tons of ways to scrape money off the top of things. Turning off all lights and electronics when you're not in a room etc etc. Down grade your cell phone plan. Get a reduced plan that still covers your mins but doesn't cost as much. Stop driving really aggressively, you burn more gas that way and end up refilling more frequently. etc etc etc.

 

I don't know what sharebuilder is.

 

-All change goes into Porschie bank at the end of the day.
-ING withdrawls from my checking a certain amount each month.
-WaMu savings withdrawl from my checking a certain amount each month.
-Starting my Roth IRA after a bit more research. And I will have that take out the maximum amount each year spread over the year.
-When my org starts contributing to my 403 B, I will start also. I hope I can max out both the 403 B and IRA. :hs:

 

racing interest + college student = no money

 

Like the bank takes say 50 a month and puts it towards stock you want to invest in