I really want to save about $300 before May 20th so that I can go summer clothes shopping since I'm going on a trip. But every single cent I get I spend. Either on coffee, clothes, earrings, food at school, you name it and I'll buy it. I've never been good at saving money. But I really want to do this. I've tried hiding it I've tried putting a picture of what I want of where I hold it on it, I've tried giving it to my parents, I've tried everything! And I really want to save it so that I can have a lot of cute clothes for my trip.
It's called a Certificate of Deposit go to a bank and ask for a CD. It is a special account that holds your money but does not allow you to touch it for a certain amount of time. You can do a 6 month CD or something, which means you can add money to the account but the bank won't allow you to take any of it out until the 6 months is over. The banks also give CDs a higher interest rate, so your money will earn money while it's sitting! Good idea?
it's called will power and a bank account :o lol edit- OK, I am sorry if that made you mad, that wasn't my intention. When I say will power I mean you have to resist it no matter what. Guess i didn't that help you, but it helped me. Just try spending your money on things you know you really need, and maybe bring a lunch to school.
If it's just that you want to use all that extra money that is going for all those things that you mentioned for the clothes. Then make yourself a chart-using $300 as a goal (maybe like a thermometer) and then cut out pictures of your vacation destination and summer clothes and look at it often and set your goal and sight for what you desire. If you can't handle the temptation, maybe mom can help you-she could save it in the bank for you and give it to you when your goal is met. If you get a steady amount of money, and it's that you blow it without knowing where it goes, make a budget. Some people use the envelope method, where you put a set amount of money on payday to each envelope you name, so if you have enough money-set aside so much for coffee, clothes and all the others that you spend, and then consider how many payperiods prior to your trip-then figure how much per payperiod it will take you to reach your $300 goal. Then each payperiod-put the set amount in With the other accounts you then spend accordingly, but once you run out-that's it-no more spending in that category-this is so you don't overspend and you meet your $300 goal. You may also have times that you don't spend all the money in the different categories and you can take that extra amount for either next time or put it into your summer clothes account-so that you reach the goal sooner. If mom just gives you money randomly, then figure how much you need each month prior to the vacation, and save that allowance and ask for extra jobs grandmother/grandfather, or any other relative may have extra jobs that need to be done and they would be glad to give you a few dollars for it-then that's great. Maybe you could have a yard sale-where you sale all the clothes or toys you have grown out of. Good luck on your goals-try not to give up.
Get one of those piggy banks that you have to smash to open! Keep it in somewhere that everyone in your family uses so that you won't be tempted to break into it in your room when no ones around! If you keep putting money you get and don't want to spend in there then you'll have loads by May. If you find you're spending money on stuff you don't really need then make a list of everything you buy in a week, and then budget yourself. Are you spending money on food that you could bring from home? Or clothes that you don't actually wear that much? Leave yourself some leeway so you can get treats every so often, but stuff like coffee is so expensive that just skipping it every second day will save you loads!
First make a budget. -List how much you earn/receive every month. -List the expenses you absolutely have to pay every month - housing, insurance, gas, food, etc. Include a savings category, and make that 10% of your income. -Then list your optional expenses, like clothing, dining out, hobbies, etc. Once you have a budget, you can adjust the amounts/percentages until it makes sense for your lifestyle. Make your savings a strict 10%, or even more. Then, consult your budget each time before you spend. At the end of every day/week, fill in the expenses you had that day in the correct category, so you know how much you have left. Once you get used to this, you won't have to write it down so often, and you'll just have a sense of what you can spend. Your local library has plenty of helpful books in the personal finance section.
