by D. Trump

Created on: January 06, 2007   Last Updated: August 30, 2009

It took me a very long time to get good at saving money. Like many people, I tried everything that I could to save as much as possible, but nothing worked. Finally, after 3 years of investment experience, I discovered the methods that really worked. In this article, you will read what you need to know to finally get ahead in your saving!

First of all, you should know that saving money is difficult for everyone. This is because it is basic human instict to spend as much money as you have available. This is why every book about saving money tells you to "pay yourself first." If you save money first, and then allocate a specific amount of money for spending, you force yourself into a budge, and hopefully forget about the money that you already saved. Now that Internet banking is getting more popular, you can go online and choose a specific amount of money (even if it is only $25 a month) and have it automatically transferred from your checking account to your savings account every month. You will be surprised at how little you will miss the money, and how fast it will grow. Once you start to see your money growing, you will be more aware of the positive results that you can acheive, and you will will be more motivated to save.

Another great method to save money is to think like a Corporation. One thing that Corporations take very seriously is any cost that is repeated regularily. This is because these costs are the most expensive over time. In most peoples' lives, these costs come in the form of bills. If you can save even $10 a month on 5 bills, that works out to $600 in one year. In ten years, thats $6000 plus interest. That is a lot of money! It could be as simple as adjusting your cell phone plan, or getting rid of some cable channels that you do not watch. Most people can find at least a little bit of wasted money in bills, and if it is something that you pay every month, you will be much farther ahead than if you even saved $100 on a single expenditure.

Credit cards are another area where most people hemorrhage money. If you have anything owing on your credit card, call the credit card company and try to get a lower rate. Sometimes this won't work, but if it does, you will save a fortune. Some credit card companies have credit cards that have lower rates in exchange for a yearly fee. If you normally hold a large balance, this will likely be worth it. If you don't, or can avoid holding a balance, then it is a good idea to pass on this.

If your savings are

• 1
• 2
• Next Page >>