How Do I Save Money For Summer Fun?
A Reader Asks…
I’ve done really good about saving money but I know the summer will bring about lots of fun stuff like carnivals, fairs, beach, mini vacations, etc. Tips on how to save money before hand so I don’t go over my budget?
(Scroll down to see responses)
August 14th, 2009 at 6:37 pm
Transfer that money to a fixed deposit account maturing in the months of summer. So you will money of that money and you cannot touch that money till you are in summer season. This way you not only save money but also make money out of that saving. How does that sound ?? It take care of the bad habit of spending the money if they are available for use but by opening a fixed deposit account you actually lock in the money – cannot spent but definately earn.
Happy times in summers !!
August 14th, 2009 at 10:48 pm
Write your monthly budget in a composition book- company paid, how much, type(restaurant, movie,groceries,etc). After a month you can see places where you can cut back on. Take that extra and put it into a money market acct. with a mutual fund, NOT a Bank. Make YOUR money work for you and NOT the bank. PAY YOURSELF FIRST!! At least ten percent, also into the same money market. Whatever you have in savings, now, put that into the acct also. Hope this helps.
August 15th, 2009 at 1:03 am
Have a certain amount automatically withdrawn from your deposits and put into a savings account. That way even if you don’t want to withdraw money, you have no choice. It automatically does it.