Papispico

Well. Im looking to actually start saving money, and the bank just doest work for me.
I literally need something where when i come home i can drop a dollar or two into daily and i wont be able to open it. lol

the 2 year old piggy bank for a child is totally out of the question.

Was wondering how some of you other SL members actually save money on a daily basis.
i dont mean buy cheaper things etc etc. I mean when u come home and have that spare change of those extra couple of singles, where do u put them? ive tried the old bottle in the closet, but once that sucker fills up im taking the money out.

___MmmBoxy___

I have a large battery can (from radio shack) and I put my spare change in there. I now have about $200 in change, and I refuse to take it out. Before I had that, I had a glass pig that the only way you could get the money out is by breaking it. That works really well because you know that once you get the money out, you can't put any back in. I know that's not what you want, but it's worth a try!

~Stephanie

tikbhoy

Stick with the bank and open a CD/Time deposit account instead.

Papispico

any online spots i can look @ for that stuff?

the glass pig thing isnt what i really want. but i want something to the same effect. i either have to phsyically break the container...or i need to open it w/ a key.

Yanki01

x2, you'll earn more interest than a regular savings account does and you can lock it up for a while. What im starting to do is lock up $1k/yr on a CD account and then once its matured lock up that $1k plus another $1k for another year. I also have my regular savings for what i need and whatnot. You wont earn much but its a good way to get something back while trying to save. Go to your bank and others to see who has the best rates. You can only gain from it. Self discipline also has to come into play.

Papispico

i already have one of those. and thats seriously locking up ur money. im trying to save money for the next 6 months. and remember guys it has to be on a daily/nightly basis.

jbae1221

why don't you switch to bank of america.. they're doing a keep the change thing.. so if you use you debit card and it's like 1.75 they put .25 in a savings and for the first 3 months they will match it.. but on a side note.. i think you have to open a savings account with a min of 500
i think.. you should check it out

___MmmBoxy___

Most deffinatly. Bank of America is wonderful! I have a High Interest Savings account, and each month, I will earn about $0.25 for every $20 I have in there! It is amazing!

~Stephanie

paul34

don't bother with brick and mortar banks, no one is going to give you a good rate... or if they do, they're going to want a ridiculous MINIMUM, which is a bank's way of scamming you into a CD that lasts for an infinite amount of time. They're just stealing your money.

Instead, try www.ingdirect.com

High interest, no BS, no minimums, no fees. Just a bank for those who can navigate a website and don't like BS .

shadow12one

Dont bother with CDs. Its BS. Your ROR is usually between 1 and 3 percent. Ive seen even less than 1%. What banks do with those is take your money and invest it. They do that by loaning money to companies and corporations, credit cards, investing in stocks and mutual funds.

Heres an example. Lets say a bank uses your money to invest in the markets. They earn 12% returns that year with your money. They will keep 10% and give you back 2%.

If you wanna invest long-term go with Mutual Funds. Depending on what type of portfolio your lookin at (Aggressive, Growth, Income, etc) you can get anywhere from about 10 to 14 percent. If you want something you can pull money out of at any time, go with a Money Market account. Thats a bit more conservative, around 8% depending on where you go. But its better than what you have now and its liquid. Meaning you can take whatever you need whenever you need it. Its great for setting up an Emergency Fund. By the way, everyone needs an Emergency Fund. You gotta have something set aside that would allow you to live on for 3 - 6 months if your out of a job all of a sudden.

If anyone wants any specific info on anything send me a PM

MisterKe

glass piggy bank from walmart. or a shoebox. I have an old pickle jar for change and loose bills.

crzydesi

my brothers, some close friends, and i run a 'susu' ... basically this is how it works...

1. every pay period give one (most trustworthy) person $100 out of your paycheck
2. set a schedule in which one person receives all the money that week, until everyone is paid, then start all over again.

this only works with trustworthy people but it is an AWESOME way to save money. We run it for years, just make sure and pay your $100 every pay period. 7 of us run it, so I get $700 when it's my turn. You don't have to use $100, you can just do $20 a week, or a day and only pay out once a month, but its the concept that works well.

Hope that helps you save some dough! lol

a_german_named_hans

i've got like a little black holder case thingy right by my bed. its got a spot for your phone and a wallet. I use the drawer to put spare change in.

Dakine

put money in a piggy bank, soak the piggy bank in cement and leave a opening, drop moeny everytime. and its like the heavy and thick piggy bank i must say!!!

engifineer

I dont have a lot of change. I typically use an amex for most stuff and pay it off the 1st of every month. Just makes for an easier way to monitor my spending. I already have a corporate Amex so it was easy to get one for myself and track them on the same site. But I do use a large Ball canning jar to throw my change and small bills in.

As far as investing, I keep the savings account and money market, and dump a chunk in my 401k every pay period (straight out of the paycheck) which also gets some company match.

elo123

I use a large econemy size pickle jar and i find that it works wonderfully. But for preventing your self from taking change out of it just think to your self how much more money your going to have when it fills all the way up...

SciontCya

Direct-deposit to a 401k and TDWaterhouse online account.
Some goes to invest in stocks, some small caps, some interest-only savings.
Over time, it's crazy how fast it grows.
You get addicted to logging-in and seeing it go up.

That's why I say to stop the endless mod's and save.
Set a reasonable goal for your car, stop, and save.
You'll thank me later...

ktwo

Beer bottle, break the top off so it's sharp. Why can't you just use a piggy bank?

scionofPCFL

Empty water cooler bottle is great. By the time it fills up, you'll have several thousand in it.

Or, you can get a few empty liquor bottles to seperate your change. I've got a Cabo Wabo tequilla bottle about 2/3 full right now, and the wife counts it every now and again. At 2/3 full of quaters (the bottle is rather small if you don't know Cabo Wabo), it's about $90. It took less than 6 mos to get that way too.

Budsmoke

So then what are you looking for? If the bottle didn’t work for you, then there’s nothing else we can offer you. It’s about self control. Any container you use is eventually going to fill up and need to be emptied. Just when you empty it, put it in the bank instead of spending it right away.