Where can l put money to save ?

Work with who you are. I love your honesty.

Fix your loan.
Get your bill payments deducted monthly.
Cut up the credit card. (Very satisfying).
Get a partner who CAN do the money thing.
Be happy.
If you change, good. If not, no worries.
 
Gee Datto, what's up? I was expecting you to offer to set up a trust account for him. "Join a religious group" - what were you thinking?

Actually I once belonged to religious group but was expelled on behavioral issues. However, I believe if religion is done right, one can learn will power and self discipline.
 
Haha , nice one Watta and l actually do have to work with who l am because it'd take more than a book to slow me down :eek: A dirty big padlock with no key might work .

Ace , don't get ya , or was that a joke ?
 
Maybe an account that you have to sign for it person to withdraw the money. Might help having to visit a branch as by the time you do temptation has passed.

Extra step is for 2 people to sign but that would be a joint account so would complicate it further it terms of ownership etc

If it's mainly bills you're wanting to set aside the money for then pay the bill in instalments - ie bpay $20 a week or whatever is needed so by the time it's due it's already paid. A lot harder to get that money back at the drop of a hat too.


That account thing might help me , wonder if they still have the old passbooks instead of key cards !
l'd like to see my savings in a book again , like the old days , stamped and everything :D
Give me a card and l'm done for .
 
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You see l'm self employed . So there's no regular thing , rather just lump sums as a job goes out , whenever that may be.
So it's hard to do direct debit bills and things as my pays and cash flow will often miss the dates.
One of the drawbacks in my job.
On good mths though there's often enough after everything else to put away quite a good chunk that would really add up if only l could keep it .
 
Haha , nice one Watta and l actually do have to work with who l am because it'd take more than a book to slow me down :eek: A dirty big padlock with no key might work .

Ace , don't get ya , or was that a joke ?

Maybe Ace means that debt is like forced savings that can be reborrowed.
Hmm you do have a situation. Do you have a loan? Or several? It would be good to fix some and pay off one. And no credit card. Pay it down and get rid of it.
This is the first time I've seen datto being serious. You need more than a mindset! There are groups around if you're serious. Main thing is strategies and support and a clear decision. :)
 
You see l'm self employed . So there's no regular thing , rather just lump sums as a job goes out , whenever that may be.
So it's hard to do direct debit bills and things as my pays and cash flow will often miss the dates.
One of the drawbacks in my job.
On good mths though there's often enough after everything else to put away quite a good chunk that would really add up if only l could keep it .

How old are you? Have you got any dependants?
 
Ace , don't get ya , or was that a joke ?

It's all about the mindset thing and what your goals are.
Why do you really want to save money?
It's not the actual physical money that you want.
You need to get very clear on your goals before anything significant is going to happen for you.
 
Might sound like a dumb question but if you knew how l spend and waste money and then throw my business into the mix. Needing cash flow and tie me over money until the next pays and stuff which can be unpredictable and often a mth or more apart , bills.

l just need somewhere l can put away some money when l get it , that l can't get my mitts on .
l've tried having a sep sav accounts and not having it on my net banking so that l don't see it , with a target so that it's locked in.
l've tried having 5 or 6 accounts and stashes for savings that l supposedly add to.

Nothing works, l always get to it and spend it .
l need to save !

You need a goal stronger and more emotional than your access to the spare cash accounts!
What do you really want so bad, that every day you wake up you think about it? When you answer that question, setting a separate account, making automatic deposits there, won't be a problem. Obviously, you need a much stronger desire for something else than depleting those savings accounts, right?
So think about it, what is it that is your burning desire???;)
 
You see l'm self employed . So there's no regular thing , rather just lump sums as a job goes out , whenever that may be.
So it's hard to do direct debit bills and things as my pays and cash flow will often miss the dates.
One of the drawbacks in my job.
On good mths though there's often enough after everything else to put away quite a good chunk that would really add up if only l could keep it .

After reading this, have you considered having an account where all your income is deposited, maybe a mortgage offset account. If you don't have a mortgage offset then open an account at a different institution, arrange a DD then put this card in a cup of water and leave in freezer.

Link this account via regular DD to your everyday account transferring a "weekly wage" which you can spend.

Have a CC linked to your everyday account but not your deposit account, maybe by having a steady income from an account which you don't normally visit you may be able to create the mental separation that is required.
 
Some very constructive suggestions here. FWIW, one technique I have used successfully myself and with clients overcoming serious behavioral issues is a SMART goal- a specific, measurable, achievable, realistic, time-based result goal. i.e. next time the invoice arrives in the account after bills and necessities are paid determine a fixed amount to transfer to a seperate unlinked savings acc youve cut up the card for. Doesnt have to be much, even 10% to start just to prove to yourself you can. Leave a little over for a reward for yourself too- work without reward gets old fast. If you dont get there work out where you went off task and do better next time. You are here on SS actively seeking new ideas and tools. You have a job that earns. You are asking the right questions. You have everything you need to make it happen- good luck mate!
 
What's the stuff you're buying now that's stopping you from saving?

What would you buy instead with the money if you could save? Put a photo of whatever it is on your fridge door/wallet or whatever.

Rate the stuff you're buying now and work out what you could cut out to reach your goal. Doesn't have to be all of it. Employ self discipline and cut something out. Working out how much you'd save by cutting that thing out may provide incentive.

If you're considering an ip that would be a great forced savings option.

After a while on here you may need advice on how to waste money...
 
I have a higher interest savings account opened when I needed to park a chunk of money not needed immediately. It was a PITA logging in, transferring and then waiting a day or two to get it. For me it was enough to make me think 'how badly do I need this money?'

The lack of immediate access coupled with no card (or cut up or frozen card) might be enough to help you have to make an effort to get to it and that hesitation and delay may be enough to allow you to question the imminent purchase.
 
Thanks for that people , very helpful.
l feel insecure with no cash in the back for starters.
l don't have any mortgages right now , 2 cheapo places both owned outright .
Do have a bit of a CC l'm paying down.

l do wanna buy another place though also and l don't want to use the others against it . l know that mightn't make sense but have my reasons so , l'd like to not only save to just have some cash put away but l also need a new deposit anyway so there's a target .
lt is good havin g a mortgage or something bc it is like a forced saving for sure.
l often make a start and put in 4or5 or 10k chunks even but with our costs of living being as dear as they are , man l can dwindle away anything , very easily. Without even buying much for myself to boot either. There's usually only a few little things to show for blowing a pile of dosh. That and rent atm because l'm renting , don't live in my places right now plus bills , car , life . Shops , bloody Bunnings haha , l just spend . l do like spending, yep, that l do :D
Anyway , gonna have to find some safer harder to get to account l think .
Might even get my daughter to sign . She's at school in bank hours , that might slow me up.
l use to freeze cards , till l invented the quick safe defrost, 20mins and your good to go.
Like l said , a dirty big padlock :mad:
 
Random, I agree with others that you need to work on your mindset! I used to be a big spender too, however I found reading all the posts on this blog to be a really big help in resetting the way I think about spending:

http://www.mrmoneymustache.com/

Also agree with using a budgeting tool (YNAB is great) to actually figure out what your expenses are, over a period of a few months. You might be surprised at where you are spending!

Final thought is to make sure you are trying to save at a sustainable rate - it's no good putting a lump sum of 5 or 10k into your savings account, but not have enough budgeted for expenses until your next pay, or being so tight with money that you have a spending blow-out and splurge big time! Willpower isn't infinite, so try to change your habits a little at a time. Actually tracking your spending really helps with this - 'Mindful spending, on what matters.'
 
Money in banks will lose value over time.

Put savings into silver

I've friends who have been waiting for silver to rally for a few years now

ag00-pres.gif
 
I'll second getting onto Mr Money Moustache. Read the blogs then get into the forum. It just goes to show you can find many ways to not waste or spend money stupidly.
 
Thanks for that people , very helpful.
l feel insecure with no cash in the back for starters.
l don't have any mortgages right now , 2 cheapo places both owned outright .
Do have a bit of a CC l'm paying down.

l do wanna buy another place though also and l don't want to use the others against it . l know that mightn't make sense but have my reasons so , l'd like to not only save to just have some cash put away but l also need a new deposit anyway so there's a target .
lt is good havin g a mortgage or something bc it is like a forced saving for sure.
l often make a start and put in 4or5 or 10k chunks even but with our costs of living being as dear as they are , man l can dwindle away anything , very easily. Without even buying much for myself to boot either. There's usually only a few little things to show for blowing a pile of dosh. That and rent atm because l'm renting , don't live in my places right now plus bills , car , life . Shops , bloody Bunnings haha , l just spend . l do like spending, yep, that l do :D
Anyway , gonna have to find some safer harder to get to account l think .
Might even get my daughter to sign . She's at school in bank hours , that might slow me up.
l use to freeze cards , till l invented the quick safe defrost, 20mins and your good to go.
Like l said , a dirty big padlock :mad:

Do you have a trust worthy relative with a loan and an offset account? You would need a written loan agreement, and consider whether you should ask for security, but you could start depositing money in their account. This will prevent you from accessing it but also help them with the saving of interest. You could have a loan term of say 1 year or 2 years. The money would then be locked up unless both parties agree to early repayment.

But lots can go wrong so seek legal advice.

I also suggest Mr MoneyMoustache.
 
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