I have a problem with my money. I can not save my money. Every last month, I am empty my money. So, how can I save my money?
Thanks so much!
You must change your lifestyle and possibly get a second part time job.
Living pay check to paycheck is very common today however in most cases it is a lifestyle choice. Everyone can cut expenses if they are determined to do so. That is how you save.
Set up an auto-withdrawal through your employer so that 10% of each paycheck is pulled out and put into a savings account before your pay is sent to you.
Oh, and see a financial counselor.
I agree with above. Your spending habits need to be changed at the core - it needs to be a lifestyle change.
I suggest that you also pull out 12 months of bank statements. Categorize each purchase.
How much are you spending on fixed, necessary expenses a month (ie. mortgage/rent/heat/power/car payments etc…)? What about variable expenses (food, restaurants, clothes, coffee etc…)? Could you cut down on any variable expenses? Perhaps even fixed expenses to get you saving more?
It would be a good idea to see a financial planner that could help you put money in an IRA account. Down the road, you could use that IRA money to purchase real estate. It’s a great investing vehicle!
Also, if you’re in debt, Robert Kiyosaki, Author of Rich Dad Poor Dad has a free e-book that you could listen to. It’s his advice on how to get out of debt.
If you’re interested, here is the link on youtube: https://www.youtube.com/watch?v=C5nzQgKRaJ0
Best of luck,
All good ideas and direction, I’m sure we’ve all been there at some point. I’m curious though, what made you choose this site to seek advice?