Saving $100 each month-best options?

jackquelin · Apprentice Joined: 19 Nov 2008 Posts: 1

Hello everybody, I need a piece of advice. I decided to save 100$ every month instead of spending it on stupidities I dont really need. I must admit, Im a real maniac for shopping. I tried to keep some money by putting it away in a secret place so that only I know where it is. But thats wrong because I cant be calm when I know that I have some money in my home. So please help me to solve my problem.

sutherland455 · Apprentice Joined: 15 Jan 2008 Posts: 1

If you dont have strong will to solve your real problem which is immoderateness, any advice will be useless. You can open a savings account in any bank and it would be more difficult for you to get to the money and in the same time youll increase the amount of money you give as a deposit. Furthermore, interest rate is higher for long-term deposits, and if you calculate how much money you can get when that period of time expires and when you compare it to the amount you can get when you withdraw the money out of the bank before the end of the period you will conclude that it really pays off to wait for a little while and youll manage to restrain yourself from spending money on silly things as you wrote. I hope I helped you a bit.