Comments on: College Money Tip #15: Get Saving http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/ Money issues for college students and 20-somethings, without being boring. Tue, 24 Apr 2012 13:02:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric Nernberg http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-84869 Eric Nernberg Fri, 22 Jan 2010 05:59:16 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-84869 What great tips! I really wish I had heard this when I was in college. It would have helped create a lifelong habit of saving. Once you start saving, it's amazing at how quickly even just $10 a week can add up. What great tips! I really wish I had heard this when I was in college. It would have helped create a lifelong habit of saving.

Once you start saving, it’s amazing at how quickly even just $10 a week can add up.

]]> By: Switch to Riches» The “Twenty Something Finances” Carnival - Upbeat Edition http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73760 Switch to Riches» The “Twenty Something Finances” Carnival - Upbeat Edition Mon, 27 Apr 2009 16:40:29 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73760 [...] presents College Money Tip #15: Get Saving posted at Poorer Than [...] [...] presents College Money Tip #15: Get Saving posted at Poorer Than [...]

]]> By: Top 10 Posts for Debt-free Scholars: April Winners | Debt-free Scholar http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73746 Top 10 Posts for Debt-free Scholars: April Winners | Debt-free Scholar Fri, 24 Apr 2009 12:31:21 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73746 [...] “College Money Tip #15: Get Saving” -This short article explains one way that you can save money in college.  The tip?  Include a savings category in your budget!  Read the post to learn how and when this method works. [...] [...] “College Money Tip #15: Get Saving” -This short article explains one way that you can save money in college.  The tip?  Include a savings category in your budget!  Read the post to learn how and when this method works. [...]

]]> By: Benjamin Lee http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73587 Benjamin Lee Tue, 14 Apr 2009 01:49:22 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73587 Pay God first before we pay ourselves. 10% is a good idea. Pay God first before we pay ourselves. 10% is a good idea.

]]> By: RAJEEV KUMAR SINGH http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73578 RAJEEV KUMAR SINGH Mon, 13 Apr 2009 14:51:34 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73578 Very nice article.. i completely agree with you that we need to pay ourselves first.. this is the thumb rule for anyone hoping to achieve financial independence . One of reasons why rich people are rich is because they do follow this thumb rule to teh T. Works well. Thanks again for this well written article.really loved it. Very nice article.. i completely agree with you that we need to pay ourselves first.. this is the thumb rule for anyone hoping to achieve financial independence . One of reasons why rich people are rich is because they do follow this thumb rule to teh T.
Works well. Thanks again for this well written article.really loved it.

]]> By: MK http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73549 MK Fri, 10 Apr 2009 17:58:19 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73549 I don't know how many times i've told me friends this! even if it is 5 dollars a pay check. If an emergency comes up it'll be something that you have saved in an EF rather than having to put it on a credit card and add to the debt you may already have. I wish I would have done it in college, but now a few years out (sort of, i'm doing the night class thing for a different degree) I wish I would have started my saving earlier! I don’t know how many times i’ve told me friends this! even if it is 5 dollars a pay check. If an emergency comes up it’ll be something that you have saved in an EF rather than having to put it on a credit card and add to the debt you may already have.

I wish I would have done it in college, but now a few years out (sort of, i’m doing the night class thing for a different degree) I wish I would have started my saving earlier!

]]> By: Tracie http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73548 Tracie Fri, 10 Apr 2009 16:49:47 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73548 Very good advice here, I will have to show this to my son, which is 22. He has a hard time saving and I try to get him to understand that saving is necessary for his future. I, personally, have been to the point of bills first, then paying me, but we are back on track and I can pay myself first now. It is nice to know there is a little stashed away for a rainy day. Very good advice here, I will have to show this to my son, which is 22. He has a hard time saving and I try to get him to understand that saving is necessary for his future.
I, personally, have been to the point of bills first, then paying me, but we are back on track and I can pay myself first now. It is nice to know there is a little stashed away for a rainy day.

]]> By: Regina http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73546 Regina Fri, 10 Apr 2009 15:16:03 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73546 For those in deep financial holes, you should consider paying down debt as paying yourself. It's as good as (and often better if it's high interest debt) to pay down debt than putting that money in a savings account. I'm very lucky in that I'm able to pay myself first every month. In fact other than my 401k deduction (10% of gross), it's my only automated deduction from my income. All my other bills I pay myself, mostly online. This automated savings is 9.2% of my net income a month. Then if, at the end of the month I end up with extra money as a result of living frugally I kick that into the savings account as well. But no matter what, unless there's a real emergency, that 9.2% a month is stashed away. This is largely possible because I have no debt and live a bit on the cheap side (being that I don't have particularly high income so far). I have no student loan or credit card debt. I don't have cable TV, and I live in a sufficient but slightly crummy apartment. So I definitely give up some things in order to save. But it's well worth it. For those in deep financial holes, you should consider paying down debt as paying yourself. It’s as good as (and often better if it’s high interest debt) to pay down debt than putting that money in a savings account.

I’m very lucky in that I’m able to pay myself first every month. In fact other than my 401k deduction (10% of gross), it’s my only automated deduction from my income. All my other bills I pay myself, mostly online. This automated savings is 9.2% of my net income a month. Then if, at the end of the month I end up with extra money as a result of living frugally I kick that into the savings account as well. But no matter what, unless there’s a real emergency, that 9.2% a month is stashed away.

This is largely possible because I have no debt and live a bit on the cheap side (being that I don’t have particularly high income so far). I have no student loan or credit card debt. I don’t have cable TV, and I live in a sufficient but slightly crummy apartment.

So I definitely give up some things in order to save. But it’s well worth it.

]]> By: Mike http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73545 Mike Fri, 10 Apr 2009 14:25:04 +0000 http://poorerthanyou.com/2009/04/10/college-money-tip-15-get-saving/#comment-73545 I completely agree with you on the whole idea of paying yourself first. I'm not sure if its nurture or nature for me. Maybe it is the jew in me that likes to save money but at the same time my first savings account was in elementary school! My parents gave me money each week (~$5) that I could either spend at the school (junk) store or put into my savings. I always put at least 50% of that money into my savings. I continue this practice with my real paycheck, I put as much as I can into savings or retirement. I completely agree with you on the whole idea of paying yourself first. I’m not sure if its nurture or nature for me. Maybe it is the jew in me that likes to save money but at the same time my first savings account was in elementary school! My parents gave me money each week (~$5) that I could either spend at the school (junk) store or put into my savings. I always put at least 50% of that money into my savings. I continue this practice with my real paycheck, I put as much as I can into savings or retirement.

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