Why can not l save money? What is a good way of putting money aside and not touching it?
Same with my Visa. l make good payments on it but then l always end up using it. l do not wanna cut it up because l might need it for an emergency. Tips?

I've never understood people like you. You know spending beyond your means is bad, but you still do it. l understand the people who spend too much because they do not get it. But people like you who knows it is wrong but do it anyway, l do not get. Maybe this is an addiction like alcoholism or a drug addiction. Maybe you need professional help. But l doubt anybody on will be able to help.

Lack of discipline.

A very simple rule to follow with u paycheck is: 10, 70, 20.

Always save 10% of ur check (put in an account that will charge u fees if u r tempted to touch it), live off of 70% & pay 20% towards ur debt.

If u can not live of 70% of ur income u need to make a few sacrifices. As far as u credit cards u do not need to carry them with u inside the store. Leave ur visa at home or in the car if u cannot control the urge.

Pay yourself first! That is the most important rule for personal financial management. Start ur ''opportunity fund'' or ''future fund'' or whatever jazzy name u want to give it & put a minimum of 10% of each paycheck into that fund. BTW, never call it an ''emergency fund'' or u will create an emergency to eat it up.

Next comes a budget -- ur monetary action plan. Do it & follow it. Stop acting like a wayward child in a candy store who wants everything she sees. You r not 4 years old anymore. Decide where u want to go financially, set up a plan to get there, & stick to it. And stay out of the stupid mall -- u arent't a teeny-bopper anymore & have more interesting & exciting things to do.

Get a little plastic tray to put your Visa card in and fill it with water, then put it in the freezer. Now you will have a card only for emergencies.

Write out plan for were the money will go each month.

u can not save money because u do not want to. u want that ''great deal'' on $200 pants more than u want to build wealth.

you just need to remind yourself that 40% off sales r not emergencies.

open up a savings account & get part of ur paycheck put there by direct deposit so u never see the money. the next time u get a raise, just adjust ur direct deposit info to put that extra money into ur savings account.

over time, this can work.if u really want it to.

try only spending money in cash, so u feel just how expensive everything actually is. if that does not work, do not carry any bills larger than $10, so u have to feel yourself forking over 20 pieces of paper fir that ''great deal'' at macy's.

Cut up the Credit Card. there is no emergency that u would be able to use it for since u r on the way to maxing it out anyway.
Or if u r strong enough - take it out of ur wallet & leave it at home in a safe place. If it is not in ur wallet when u go shopping then u can not use it.

As far as saving money: Go to ur bank & set up an automatic transfer between ur checking account & savings account.
It does not have to be a huge amount & u can try to have it done numerous times a month. If ur bank transfers just $50 a month from ur checking into ur savings then u will save at least $600 in a year. Of course if u want to see more money at the end of the year then choose a higher amount for the transfer.

Now all u have to do is manage not to withdraw the money in ur savings account constantly & taking the Credit Card along when u go shopping.

You can not save money because you're a selfish and spoiled person who has the same attitude toward self indulgence as the millions of other people in this country that are destroying our economy.

Make a budget! If it is not in the budget & if u can not buy it with cash, then u do not need it.
A. Have a garage sale & sell anything that u no longer need or want.
B.Get a temporary part time job, if u have one, get another. The holidays r coming & there will be plenty of temporary jobs available. It is better to have a no fun year or two than a no fun decade.


Here is a plan that can help you. If u work the plan, the plan will work for you:
1. Make a budget. Make the budget a week before u get paid. A budget is not a punishment! It is a tool which will free u from ever having to worry about money again. Put everything in ur budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar u r going to bring home the name of where it is going. Add an ''emergency fund'' category to ur budget for 25 dollars & save up until u have 1000-1250 dollars. Your emergency fund will help keep u from getting into new debt because of an emergency. If u can, set up a direct transfer to a savings account for ur emergency fund. That way it moves automatically & u do not even have to worry about it. You must cut ur spending & live on less than u make.

2.First get current on all of u debts & make no more late payments. Stop using ur credit cards immediately. Do not take on any more debt. Credit cards r like quicksand only the death is much slower. Make a list of all of ur debts in order of highest interest rate to lowest interest. Use cash only for ur spending from now on.

3.Pay the minimum due on all of ur debts & then put ur extra money towards paying off the highest interest one first. After u get that one paid off, u put the money u were paying on debt #1 (the minimum payment & the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, u put all three payments towards card #3 & that one will be paid off pretty quickly. As an example:

To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment

Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment

Debt #1: paid off
Debt #2: paid off
Debt #3:Mimimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.

That way, u will get them all paid off, on time, & pay the least interest. It will also help towards rebuilding ur credit since u will no longer have any late payments. This works no matter how many different debts u may have.

4. After u get all of ur debts paid off, add to ur emergency fund until u have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if u need the money u can take it out without penalty.

5a. When u have ur emergency fund in place, add a category for ''fun'' to ur budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal u want. Remember to enjoy ur life.

5b. When u have ur emergency fund in place, start saving for ur retirement. Join the 401(k) plan at work & contribute the maximum. Your employer probably matches at least part of ur contribution so why give up free money? Open a Roth IRA & contribute the maximum on a monthly basis. If u start saving for ur retirement now, u will probably retire a millionaire.

5c. When u have ur emergency fund in place, start saving for ur next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way u get the interest instead of paying the interest.

You can do it & it is not as hard as u think. Just follow the plan.