I do not currently have an income, but lets imagine for a moment that I do. Lets say that I make two hundred dollars a week. That is eight hundred dollars a month. That is nine thousand six hundred dollars a year. I live with my parents so I have very little expense. I imagine my personal expenses would be gas for my car, car payments, phone charges, my own toiletries, and maybe the the occasional night out with friends. But now I am saving up my money for college. I decide to save ten percent of my income which is twenty dollars out of what I earn every week. If I save twenty dollars a week, than that means in one month I would have saved eighty dollars a month. If I save eighty dollars a month, than that means in one year I would have saved nine hundred and sixty dollars.
This is the hard part. What do I give up in order to begin saving ten percent of my income every week? I could save money on gas by not driving as much. I can not really save money on car payments because those are set in stone. I have to pay those. Phone charges are also set in stone, but if I use it less, than I can pay less. There are tons of ways to save on toiletries. Here are a few. You could share with somebody, you could use it less, you could shop at cheaper stores, etc. The biggest way I could save money is if I did not go out with friends as much. And in a few years, I can go to college.