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Nekromantik's avatar

What is the most efficient way to save money?

Asked by Nekromantik (11points) December 6th, 2010

I want to save money to buy me a PS3, so considering I’m very young (18) and have spending habits like Paris Hilton but no money to really spend like her, what is the best way for me to save money?

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11 Answers

Ltryptophan's avatar

flip things from garage sales…

talljasperman's avatar

learn to want what you have… and to be thankful for what you have… also volunteer for the less fortunate… and give to charity… your perspective will change and you will be happier… and the only ways to get money are to save it and earn it (or steal it… but I’m not going there)... you save by not wanting what you don’t need… also keeping track of what you spend in a month helps you determine what your priorities are.

josie's avatar

“It’s not having what you want
It’s wanting what you’ve got” -Sheryl Crowe

tedibear's avatar

Are you working? If so, open a savings account along with your checking account. Have your employer direct deposit part of your pay into the checking and part into the savings. If they won’t do that, or if they don’t do direct deposit, when you put your pay in the checking, have some transferred to the savings. Most banks will even let you do that automatically.

TexasDude's avatar

Cut your spending.

You say you spend like Paris Hilton, so just stop. I bet that most of your purchases are things you don’t need anyway. Cut the fat: fast food, excessive driving, frivolous purchases…

Soon you will have the moolah for your PS3.

janbb's avatar

Put away your savings before it goes into “spending’ funds through direct deposit or parental deposit or an unbreakable piggy bank. What you don’t have at hand, you can’t spend.

Neizvestnaya's avatar

You’re 18, you’re an adult. When you get money then take any odd amounts on top of what you need for bill and put it aside for your PS3 stash. You’re old enough to open a checking account in your own name and have a debit/ATM card. Every time you deposit a check or cash then immediatley transfer over to saving any extra, you cand even do online with many banks.

Soubresaut's avatar

Kind of a cross between what @Fiddle_Playing_Creole_Bastard and what @janbb said—figure out how much you need to save each week to get the PS3 in a timely matter. Then, figure out how much you need to cut out of each of your areas of spending—food, gas (if possible), clothes, things, gifts, etc.

Every time you’re about to spend money on something, ask yourself if you really want to. Or would you rather have that money available for some other use. If you really need what you’re about to get.
...Maybe have a small picture of the PS3 in your wallet, so every time you’re opening it up, you see it. haha : ) Within sight, in the mind.

Compare items—a lot of things are the same product for different prices depending on the brand name.

Just overall, try to become more conscious of where your money is being spent. This won’t help just to get a PS3, but to develop saving habits for the long run.

BarnacleBill's avatar

Give up your vices.

Sunny2's avatar

The first step is in other messages: open a bank account. Then decide that you really WANT to save money. Stay away from places where you usually spend money. Before you buy something, ask yourself if you REALLY need it or can you do without it until you get that PS3. There are basic necessities and then there are things it’s nice to have. Make decisions in favor of the PS3., buy ONLY necessities Make deposits in your bank as often as possible and withdrawals rarely. You NEED that PS3! (What’s a PS3?)

Nekromantik's avatar

Play Station 3 :D
thanx guys your advices really helped, I opened a bank account and am now saving money for it.

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