How to Save Money Even When You Are Broke

If you are broke, then you know how hard it is to save money. Here is a simple way to manage your money so that you start building a savings...even when you are broke!

Difficulty: Easy

Instructions

Things You'll Need:

• savings account

1. Figure out how much money you make every month. If you are self-employed and it is hard to do this, try figuring out how much you bring in every week.

2. Take the total amount you bring home and deduct 10% from it. Take that 10% and set it aside. Even if you only earn $20, take $2 and set it aside. This is the start of your savings. Once you have saved $100, you can start a savings account at any bank. Some banks have a minimum of $50.

3. Having forced savings is a great way to see your money grow, no matter how much money you earn. If you save out that 10% of everything you bring in, pretty soon you will have thousands!

[Delaplane]

on 3/16/2009 Great tips!