Episode 44

Saving Money 101: Start Early!

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When I was a child, we went to school every Friday with a dollar in an envelope, and we had a savings book. The idea was to teach us, that in order to have a solid future, we had to start saving early.

Today, it’s different. Most young people can’t even think about putting away money for their future, but it’s essential.  Tell me what tricks you’ve come up with in order to put those bucks away so that your future will be secure. I’d love to hear them.

Your stories

  1. Loose Change Adds Up!

    by Emma
  2. Every Penny Counts!

    by Jennifer
See All
  1. Food Money

    by Curtis My wife and I take the kids grocery shopping with us. We have three children, one with special needs. They are between the ages of 3 and 8; shopping is a circus. We let the kids see the receipt after we checkout. The receipt lets us know how much money we saved. We tell the kids that we will add to their personal savings, whatever the amount is that shows on the receipt.
  2. Loose Change Adds Up!

    by Emma I think people forget how loose change can really add up. Whenever I'm out and about and I find a coin that someone dropped, I pick it up and put it in a change jar at home. It's a habit I learned from my dad. At the end of the year, I take all the change I've accumulated and put it into my IRA. Every little bit helps!
  3. Every Penny Counts!

    by Jennifer

    Saving money has not been easy while raising two boys without child support for 13 years. I save loose change instead of spending it and deposit $20 into a savings account each week

  4. Three Contributions: Saving, Charity, Spending

    by Wendeline

    My parents gave us an allowance and taught us to always divide money into three parts: Savings, charity (we had a box called the Tsedakah box) and spending.

  5. Start Saving When You Get Married!

    by Diane

    We married June 2, 1967 and started saving that week. After rent and groceries were paid, we each kept $10 for the week and the rest was put into a savings account. From then to now, we made sure we paid ourselves with each and every paycheck. So when I lost my husband he had made sure I would be fine. Save save save even if only a few dollars. Do it from day ONE!!!

  6. Money Savings Tricks and Tips

    by Mark

    I've been an odd mixture of saving well and spending stupid most of my life. Things I have learned along the way. Always make a monthly budget. When you do so you will be amazed at how much money you waste. Have pre-tax investments like workplace 401K's. Pay yourself first! I opened an online only bank account. I cannot access money in that account through a brick and mortar branch. When they sent me my debit card, I cut it up. I can access the money by transferring it to another account but it takes 3-5 business days. Usually whatever stupid thing I was wanting to buy is out of mind by then. I'm also the guy you are behind in line that is still paying in cash. Why you ask? I've found that using a card to pay for everything separates my brain from my money. If I put $50 in my pocket on Monday and that is my coffee/junk food/ munchies fund for seven days I will not spend as much than if I'm using a card or apple pay. Understand what your wants are and what your needs are.

  7. Rent Money

    by Kristin My mother had a way of demonstrating her point, rather than just talking about it. I haven't had children, but I frequently tell my friends with children this story so they can pass it on. As far back as I can remember, mom would tell me not to expect to "live free in this house after you turn 18." I knew from a very early age that at 18, I would have to pay rent. The rent would be "adjusted" if I were in school, but nevertheless, I would have to pay. As it turns out, I left home just before I turned 18 and moved away to attend college on my own. I did return, however, for about a year after college, and I paid rent the whole time I was there. When I finally got my finances in order, I moved into my own place. The day that I left, my mother came to me with a wad of cash. She handed it to me, and told me it was the rent I had paid to her over the past year, and she said "see how much you can save by just putting away 100 bucks a month?" Kristin - Oregon
  8. Pay yourself!

    by Sherri Putting money in savings each pay period is not an option. Treat it like a regular expense. If there is something special I want to buy, I wait a month. If I still want it, I usually buy it. More times than not it is not as important to me a month later.
  9. Save Money

    by Steve from Italy Teach children to save money, especially when the money is there. If the money will to fail, then neither the children nor the adults will have anything to spare. Give them a tip from an early age, asking them to save at least 40%. It's better to be stingy that prodigal and throwing money away.
  10. Saving Money!

    by Todd I too have always been told to save money, even from a young age. The only problem with this is that there has been a lack of funds available to do so. Due to some hard times for my wife and I and many others in this country, saving money has been put on the back burner. Sometimes, it's hard to pay for food for the week, let alone put money into a savings account.
  11. Angry Customers; Managers who Blame Clerks

    by Beverly Customers today are allowed to throw fits in public. They can upset the general well-being of most people without any social or legal repercussions. Often, the manager will end the dispute in bowing to the customer in the name of money and firing the clerk. In the grocery business for 14 years, I know there is very little profit margin, 1-3% tops. Losing any customer is very impacting on the survival of that business. A child doesn't understand that angry customer must be pleased no matter what often because a teen's feelings are hurt by a customer who just doesn't like a young teen waiting on them who is inexperienced. Also, older clerks may have diabetes, strokes, and other mental slowness that affects performance and really has nothing to do with their feelings about the gone crazy customer! In these events, our workforce is fired, moved from job to job and never gains much respect or upward growth. It is fire them vs.build a fire under them or in other words, Fire them Up!
  12. Daddy knows best...

    by Jeanna My daddy always said "the more money you make, the more money you spend". I find that to be true!
  13. Saving Money!!

    by Karen I have been teaching my grandson like I did my own children at around 2 years old to put their pennies in a jar and when the jar is full we have a grand affair taking a business trip to our local bank and depositing their saved coins. My grandson received $10.00 for his birthday and he ran to his room and stuffed it in his jar. A "family" member thought I was too strict by not encouraging a trip to the store to purchase a plastic toy he will quickly grow tired of and ends up in a box in a closet or gifted out. I reply....well when he is out of college and has a good job...all these deposits in his jar and bank will I am sure assist him in what ever he wants or needs. I did not receive rave reviews for my lessons in savings...but I was not deterred from a lesson I was taught as a child and it WORKS!!!! Thank You Judge Judy....I really appreciate your advice and wisdom.

    by Joanne My dad was always teaching us to save for rainy days. When I learned about the Christmas Fund, putting $5 a wk away and then having a couple hundred (a lot at one time)at the end of the year to spend, I applied that concept to everything and now I have quite a few little funds I can tap if needed. I taught my sons that today, they won't even miss the $20 a wk. Before they know it, they'll have over $1,000. Fortunately I've been blessed with a 401K from my job but this fund idea can work for retirement too. And when you reach a thousand or two, you can open up a long term, high interest acct of some kind. For this reason, I love Rainy Days!
  15. TO save money, HELP was required.

    by Karen Our eldest son will be 16 in March, 2020. In our county, when a child turns 16 he can do quite a few of the following: A. Start his Driver Lisc written studies and eventually get a Drivers Lis. B. Help and I mean HELP our local Wild Fire Crew and get paid thousands just to help feed them when the fire season starts. or C. Stay at home, go around the neighborhood looking for odd jobs. I prompted our son to HELP the Wildland fire fighters because it's morally upright, and he can save big time for anything he wants. He never needed a drivers liscence because there was a bus to HELP the men and women who fight fires throughout the summer. He can make close to $5,000 in three months, for a 16 year old that's a lot of money.
  16. Making savings

    by James For many years I have spent money blindly. It's no surprise then that I have hardly anything saved up. About 6 months ago, I really felt I had to change this (I am currently paying off a loan + credit card). I looked at everything I was spending. One of the most obvious areas to me was how much I was spending in the work's canteen. £5 for a meal, 95 pence for coffee seemed like not much but when I calculated it, I was spending £200 per month (aprox $257). I now spend nothing in there & some of that now goes into a savings account which I have now opened. We all have to think of the future & in my case it's better late than never.
  17. Money

    by Roye When I was in community college, I was working two jobs and going to school full time. Well my one-year annivesary was about 4 months out, so to surprise my GF, I saved up a thousand dollars and went to see her. My motivation was spending time. I worked in retail and restaurant, so I would save all my tips which on Saturday and Sunday, I was able to make about 400 per weekend. I would also learn to budget my money by writing down my bills and then how much I was getting paid. Then I add money to the appropriate areas.
  18. Never Sharing, Never Part, Never Learnt

    by Margit I was kept in the dark and not allowed to understand the meaning of money or saving, let alone being asked for an opinion. As a teenager 13-16, I helped my parents (after school / college hours) and worked alongside the workers in the then weaving factory we owned. I was told we needed to be ahead with the work. I was never given a glimpse on the commercial side - perhaps only once when my mother sent me to one of the clients who owed us money to see if I could get the payment out of him - I went by myself as ordered! My ex-husband, although wealthy, never shared / discussed with me what we could do together - it was always his decision, and I thought it was right this way, just like I was told in my youth. I spent my life moving from one country to another never really understanding my own finances but had enough to go by through work and sheer luck. I find today that my parents are in fault for the confidence, financial education and love they never gave me. I was a mere vehicle for all.
  19. Learning to Save

    by Ann Hi! I have learned that giving up something now, I will get back later. I enjoy my Tim Horton's coffee, so I now put away the coffee money instead of buying it. I drink more water; it's so much better for me. I will reap the saving it then buying it. Also that works with anything. Thanks Judy! You're the best, and you're a great mother and a faithful wife to your husband.
  20. Saving Change

    by Nancy I never use change. I always break a dollar. The change that I get back is saved. Even though it's not a lot, I can save $300-$400 per year. It's something!
  21. Saving Money

    by Angela As a person with a disability and limited family support, I learned very quickly that I needed to support myself now and in the future. I put money away every fortnight which I only withdraw from if it's crucial. At the end of the pay fortnight, I put what's remaining into my interest account.
  22. You can only rely on yourself for your retirement

    by Dominique I was in my early twenties and home for vacation. My father and mother told me to come to a seminar hosted by Edward Jones and their financial advisor, Paul Husted. I attended with them, just to be a dutiful daughter of course. Paul Husted said something to me that I would never forget...'you work hard for your money, don't you think your money should work hard for you?' From that day forward, I put money into my companies 401k programs. I would increase the % when I received a raise. Over my 25+ years of professional work, I have saved quite a nice nest egg for my future, and I continue to save. Mr. Husted was correct, if you have your company take it out of your check, you don't miss it at all...you make do with the amount deposited in your checking account. To this day, I tell this story to my nephews and nieces...I hope they listen and take it to heart. I thank my parents and Paul Husted with Edward Jones for instilling in me the ability to save for my future.
  23. Savings and Children

    by Emily My husband and I were both educators- he a School Supt and me a School Counselor. We had 2 sons. They each had daily chores, weekly chores and monthly chores. They each had checklists on the fridge to check off their chores. ( they could pick from a list of chores - so they had some ownership in it). They also received an allowance. They each had 3 piggy banks - actually jars - from their allowance, they kept 1/3 to do whatever they wanted, gave 1/3 to a charity of their choice and saved 1/3 that went in the bank. They are now in their 30's - and continue to manage money very well. They continue to find new 501c3's that they are passionate about to donate their money to. We all love your show. I so appreciate your boundaries - they are very clear. You are a phenomenal role model. I had a mom like you - lived until age 97. ( I'm 72) Thanks for all you do to empower and enlighten people.
  24. The Gift of Giving

    by Ultee As a young child, I learned about giving. My pocket money was 25 cents; three cents of that was given on Sunday in Sunday school for the mission outreach. The rest of the money went into my little piggy bank, and when it was full, into my savings account. As of this day, I have no problem in giving money to good organizations. All through my working years, I saved. I am now retired and have enough income to live very nicely and travel. I thank my parents for that.
  25. A Tale of Two Families!

    by Sarah I was never given pocket money; if i wanted something, I asked and was either told yes or no, mostly the latter. I never saved as a child, as I never had the cash to do it. My son, born in 1999, was the first grandchild in my family and was treated as the little prince I thought he was, but I never gave him pocket money, as his every whim was pandered to by two sets of adoring grandparents. But when my brother's son was born two years later, his wife was a saver, so she gave him weekly spends. If he saved any, she matched it, and it went into his bank account. By the time he was six, he was so delighted to see all this money growing that he saved most of his money. Skip forward 18 years, and my brother's son has bought his own car at 18. He can go away with his friends on holidays, and he doesn't call the King his uncle, as he is financially secure for a teenager. My son however is skint all the time, never saves and never has any. MY FAULT! I should have done what my sister-in-law did, so please other parents...make them save!
  26. The Little Savings Account That Could!

    by Faith I start with my plan the first Friday every December. I take an envelope and put in $1, add $1 every Friday, and by the end of the following November, I have accumulated $1376!! This is enough to splurge on something fun and pay for Christmas without the credit card debt. It does get hard as the months go on putting the $$ in, but by that time I have made a commitment to save and that is my goal, so I finish it!!
  27. My Mother the Frugal Queen!

    by Kelly Growing up, we were on food stamps, (1990's "funny money") and my mother worked two jobs. She was a Manager at a Burger King, and an Eye/Hook machine operator at a brassiere factory. My father was an enlisted soldier, Active Duty Army. She had three children all within five years of age to raise and take care of on her own (my father was away at basic training). I remember my parents struggling to pay bills and keep food on the table, but my mother, no matter how small the amount, would save all of her change in an old water jug, the kind you would see in a doctor's office. She and my father probably had about 4 or 5 of those 10 gallon tanks, and she FILLED them to the brim, with pennies and other loose change..she did this all year long until December 20th. She did this all so she could afford to buy her three children Christmas gifts. Nothing fancy or extravagant, but we ALWAYS had what we NEEDED and that's what made a difference. I love that woman! So no matter how small the amount, save your pocket change! 
  28. The First Million Was Difficult

    by Handy Andy I was always a worker and a saver from basically a poor family. Our needs were met, we paid off the house, we never squandered money. My mother always said don't waste money. After I finished the Navy and 4 years of college and moved to california, I joked that I wanted to be a millionaire by the time I was 35. I met that goal and went beyond it. My social security payments are meager but everything is paid for and my family has all that they want and need. After the first million, it was a lot easier. We are up to 8 million now, all bonds and certificates and absolutely no debt. My hard work and drive as a child paid off in later years. I've no worries at all except to learn to spend more as needed.
  29. Saving 101

    by Joanne When I got a place of my own and starting supporting myself after I got out of school, I didn't really have enough money to save. But, a few years later, when I did, I would always "pay myself first." Back then, companies didn't have 401Ks or any kind of plan where you could take money out of your check and directly save it. So I did it myself, saving 10%, putting it into a savings account that I wasn't allowed to touch, unless there was a dire emergency. Over the years, when I worked for a place with a 401K, I always put the maximum I could afford into that, and also into the credit union (those things came directly out of my pay check). I sort of took out more than I probably should have, so I lived on very little. I sort of made a false sense of poverty, which made me more creative with the money I was allowed to keep from my paycheck. At the end, I was saving about 48% of my salary in those two different vehicles.
  30. Saving Money

    by Claudio Instead of always using a credit card, start saving a set amount of money per month so you can create a comfortable cushion, then if you ever use it, use it as if it was a credit card and always pay the same amount back into your savings with interest.
  31. It's not that hard, really...

    by Brittany Well, I have worked for a hospital since I was 18. One of the benefits given to me was the option of putting money into a 403(b). I took it. I've been saving up for 14 years. A lot of young people don't take that option because they think retirement is a long ways away, and they need the money now. I don't miss the money I put in because I always have done it. So if it's an option, even if you're 18, just take it. You'll be used to the missing money, and you'll have a good amount saved up, even by the time you're 32. :)
  32. Dirty Money

    by Kristin I learned to save by watching my mother, who had great discipline and also made it fun. To save for her vacations, she would start collecting "dirty money." Any bills that she received that were torn or "dirty" in any way would be put in the "vacation fund" and after a year or two, she had accumulated enough to take a very nice trip! The fun part came along when she would see someone with dirty money then offer to trade them for clean money. We would be standing at the cashier at the grocery every week, and she would kindly ask the cashier to "cash out" all her dirty money. This gave mom the opportunity to explain why and pass her little trick along to others.
  33. My plan and backup plan

    by Warren Hi Judge ... I watch you daily! I save change and have piggy banks all over the house in old medicine bottles and the different coins are kept with like coins, dimes with dimes ... you get the picture. I also worked jobs that give me pensions, so I could have regular money flow throughout life. I look for deals and remember what Old Mr. Abrahms told me when I was a kid. He said, "Tony, work hard and pay yourself by putting it away out of your sight". Well, I half listened and bought a house here in New Orleans because it's affordable. Now I'm 62, I'll probably never pay off this house, but I'm living in my own space with a big yard and have a comfortable life not,"Fabulous" albeit comfy. So here's to having a dirt spoon given to ya and molding it into mosaic clay!
  34. Little Envelopes

    by Catherine When I was young, I was given a bank passbook, but a school friend told me that her mother saved money for various needs (rent, food, medicines, car repair) and pleasures (vacation, summer clothes) in separate little envelopes. I loved the idea and adopted it -- and to this date, I still maintain the budget for my business in separate little sections of my business spreadsheet, and I call them my "little envelopes."
  35. What Savings??? I have none

    by Melanie I was married in 1989. My husband and I had very specific ways to save. Until early 2016, we cashed out our coin collection. We had $18,976.02 in coins. People squander coinage. They think "change doesn't count". Pennies, Dimes, Nickles matter. You got to "roll em to roll" ...to the gas pump, to the store for a loaf of bread. It took a while to roll, but we are solid and owe no one.
  36. Create your fun, don't buy it!

    by Linda I was a single Mom with a son. I was 24 when I had him. His Dad left us and never sent us a dime, but that's on him. Thanks to my Mom and Dad I wasn't afraid of hard work, so I worked two jobs while he was growing up to pay the bills. But it was still a struggle. For instance, I kept the thermostat at 55 degrees in the middle of winter - to keep our heat bill low. So my son and I would curl up in blankets and sit with our backs against the water heater (we lived in a converted garage) to watch TV. (A 13 inch black and white) Anyway we'd huddle together under the blankets, watch TV and laugh. Everything seemed hilarious! It's still one of my favorite memories.
  37. Finding my passion

    by Pamela I was living in the Los Angeles area in 2007 and had a great job. I realized I prefer to pay back and went on the website Volunteer Match to look for volunteer work and found a training program for Rape Victim Advocates. I participated in a very intense but enlightening training and was then a volunteer advocate. I hate the reason I was needed but loved the work. I often thought "I wish I had more time to do this!" Well, be careful of what you wish for! Lol! In 2009, I lost my job! After I got over the shock and hopeless feeling, I immersed myself in my volunteer work. I moved back to Chicago and found Rape Victim Advocates and took their training to become a volunteer. I found my passion! It was helping survivors of sexual assaults! I was even accepted as their first legal intern at the age of 57! I've had to take a break and beat down cancer, but I'm back and happy to say that after taking some refresher classes I will be volunteering again!! I'll be working with my passion!
  38. Pay yourself first

    by Sophya My grandfather is a self-made man whose trade was insurance. He taught me his trick to saving and building his wealth. He always paid himself first 10% of any income, no matter how little, and it was untouchable. No matter what. He ended up a multi-millionaire who was able to take care of his family and travel the entire world for over 10 years without making a dent. Proudly following in his footsteps.
  39. When NOT to Save $ ...

    by RJ Recently my wife was diagnosed with heart failure. Outside of a heart transplant there is no recovery for her. Yes, mega-count linen are more expensive and so is eating out more frequently, doing weekend getaways, etc etc. Of course, we are reasonable with all this. Granted, there is a self-serving element to all this. I don't want to harbor any guilt when she gone but on the other hand, I do want her to feel special by doing these "little things" for her.
  40. A Survivor's Story

    by Toni When I was 20, I bought my first home. As time went on, I bought another home then rented out my first home. Other than repairs to my rental, I saved the rent money. To this day, I continue to rent out my first home and have saved just about every penny. I paid my first home off by the time I was 36 yrs old. Now at 70, that rental made a lot of money for me and continues to do so. That home led me to a 2nd, 3rd and 4th home all paid for. I wasn’t frivolous with the money but determined I was not going to live off just Social Security. If I had not started saving early, I would be living off of social security. You have to be dedicated to saving money for your future and old age.
  41. Stop Smoking My Money Away!

    by Joan I'm an avid smoker, and I'm trying to stop. I estimated that in a year's time, I had spent $1017.12 for my cigarettes. So what I'm doing to help me save for the future is everytime I felt like buying a pack of cigarettes, 3 times a week, is to take that money I would have spent on the cigarettes and put it in a savings account. I want to enjoy what life I have left. I'm 53 years old, by the way. I have amassed in my account $2,034.24. I'm on my way! Thanx Judge Judy.
  42. Have it come right off your checks!

    by Dena I have found the best and least painful way is to have 10% taken off the check into your investment/savings right away and automatically. In my case this was a company stock program. It was painless, and I saved lots.
  43. Dad's Why

    by Margaret My Dad opened 3 savings accts for 3 daughters when we were babies. He sat us down (ages 12, 10 & 9) and gave us each a bank register with deposit slips and taught us how to complete slip and record into register keeping a running balance. All birthday, holiday and work money were required to be deposited directly into savings account. Funny.. I never remember him talking about how to take money out, just save it. My Dad also told us "Never rely on the government for anything" so save now for your retirement. In our teens my Mom taught us how to manage a Christmas Savings Account, and it was great to have cash to buy everyone a Christmas gift. Both parents have passed away, and I feel blessed to have had such a wonderful childhood. Missing them both terribly, but I still live like I want them to be proud of me. Dadism: When spending your money always ask yourself, Do you want it? or Do you need it? Always take care of needs before wants. P.S. Happy Father's Day Dad. Love and Light Always
  44. 5 cents every bank day

    by Persia Everyone in our grade school signed up and got a bank book to deposit every week and watch their money grow. Some kids got more than others. Some got zero. I was given five cents (a nickel) every week. Sometimes my father gave me a quarter. I think it took a whole term to reach five dollars, but the habit of trying g to save and put awy has stayed with this Brooklyn gal for life!
  45. Save early and as you go along!

    by Nathan 1. Get a savings account and put away whatever money you can - and the key thing is not to touch that money. If you set a fixed amount to put away each week/month, you may limit yourself a bit, though the payoff can be huge down the line. 2. Spend wisely. Ask yourself whenever buying something, “Do I really need this? Is this absolutely essential?” You’d be surprised how things look amazing in a store and, when you get home, the magical sheen and glimmer fades in seconds. Don’t buy junk - buy what makes you truly happy. 3. Cut back! I used to spend a lot of money just on eating out. It’s convenient and delicious, indeed, but for the same price of a costly sandwich, you could probably make yourself a scrumptious meal at home - if you learn how to cook! Thinking about where you spend the most and cutting back will really help. Thank you, Judge Judy Sheindlin - I have watched you on TV since I was 8 and hope to study law starting next year! I was inspired to pursue law thanks to you.
  46. Second Try

    by Jessie My experience is that when I was in my first job I didn't like it so I was not wanting to go to my job on Monday. But untill I saw Juge Judy I was fixed on that job but then that all changed. She gave me confidance that I could go and do a diffrent job.
  47. Living Within My Means...means...

    by Debbie I was taught at a young age that If I wanted anything I had to work for it. When I was 14 I worked in the evenings and on weekends as a cashier/washing dishes. During High School I was a member of German Club and wanted to travel abroad with them. My parents could not afford to pay for this trip so I took it upon myself to raise the funds needed through selling candy I raised enough money to go abroad plus monies left over. Most importantly, I learned the value of Money Management Building a nest egg for my future, I left home at 18 taking responsibility for me My parents did their job! Taking the lessons that I learned at young age involving money I applied them to my adult life 1. Live within your means 2. Is it a Want or a need? 3. Pay all of your bills first, then set aside money for an emergency and savings, treat yourself 4. Be resourceful with independence Thank You Mom and Dad for showing me there is "NO Free Ride" & "Tough Love" Making me the Woman that I am!
  48. Live within your means

    by Christian I'm shocked when I read articles about 200k-400k families feeling like they are middle class. They list their expenses and you find they live in incredibly expensive homes, pay for expensive food, cars and other such things that they could cut back on, or are unnecessary to begin with. My first step to saving would be to first choose a lifestyle that is within your income, rather than at the edge of it. I don't mean to sound like a prick. I know for some, there is not much of an option. However it is a good place to start. As a single individual I make a small fraction of the salaries mentioned above. I own a home, a car, and can find room to save plenty for retirement and a rainy day. Also, as a millennial in my upper 20s, I'm surprised at how many people my age choose not to contribute to an employer retirement plan when offered. Any match or profit share (if you are so lucky) is free money! Particularly when it comes to retirement, starting young means so much.
  49. My Mother

    by Jason I do not have an exact story per say, more of an influence. My mother who is quickly approaching 50 (in exactly 9 days from today) has been an amazing insight and a huge influence on my financial status. She is unique in the way that she isn't book smart, but is common-sense smart and has been a blue-collared individual her entire life. I can remember at the age of 9, my mother constantly hounded me, telling me she needed to contribute to a savings account 'which will grow like a tree'. Both of my parents made it seem that we were poor when we were young - knowing now that idea was completely false now, makes me believe I came from a rough past. haha! Since then, I have graduated college completely debt free, now have a full-time job with enough money to support myself in the time of need. Thank you Mom, love you! -Jason J
  50. Money & Housing

    by Owan Being fortunate enough to be able & healthy I worked long hours to save money to house myself. Loathing borrowing money, with house prices rising more than what I could save, it seemed a waste of effort. Advanced tax law knowledge, only volunteered to be by a couple of individuals who cared set me on a course to lock into the housing market, making banks wealthier, along with myself. I still feel something unfair about this, as a secure long-term job is essential to maintain loans required to enable such an exercise, for a basic need. Many jobs have gone OS. The method is not accessible, let alone economically sustainable/possible for everybody without a roof over their head to exploit. With foreign 'investment' seeking 'safe havens' in desirable residential areas that also exploit tax avoidance pushing up rents & prices, it undermines what was once a much more egalitarian society. So, in short, due to good fortune I afforded a home, but feel is is at the expense of somebody else.
  51. Set a good savings example!

    by Snezana I'm slightly younger, but had the same start with a bank book. We would contribute weekly at school with our spare change. But this didn't happen when my girls started school so I tried to instill this method myself. I saved $20 per fortnight for each child from their birth and now me eldest who is 22 is going to use the money as a deposit for her first home. I believe as a parent you need to model good behaviour and that teaches your children more than what you say. I have shown them it takes patience, time and planning to achieve what you want in life. In our immediate satisfaction world, these values have been forgotten.
  52. A dollar doubled

    by Scott Hi Judge Judy, After years of going through money like water while I was working and never saving a thing, I find myself now living on a fixed income due to disability. However I'm saving. On January 1st last year I started the 52 week saving plan. On week one I put $1 in the bank The following week I put $2 in the bank And on and on, each week increasing by a $1 By the end of last year I had $1378 in the bank and took my first holiday in 15 years.
  53. Mother knows best

    by Hannah I have to thank my mother for sharing me saving early. I got my first job walking dogs which was £10 a day for a 13 year old this was loads and then I got another job in sales a year later as soon as I got paid I wanted to go out and spend it but my mother marched me down to the bank and made me open a savings account and I put most of the earnings in there. At the time I was annoyed but I was able to use £20 to get treats and things now that money I had been putting away every since its paying my way through university!
  54. Savings and Investing in the future

    by Janet Susan Orman's advice for young people who think they have no money to invest. Stop spending $25.00, or more, a week on Starbucks coffee. Invest this instead and watch it grow next 20 years. My advice. Buy McDonalds coffee for a buck.
  55. Saving Money

    by Claire One of the best money-related advice I received was from a wonderful gentleman I worked for in the 1980's. He said that when 401k is offered, always take it and contribute, it is free money your company is giving you while you also contribute. I took his advice and made it a habit to always contribute the most I could. It has paid off literally...I am now retired and my financial advisor has put the 401k's into index annuities for me. BTW I graduated Madison as well. Love you Judge Judy.
  56. by Ella Many, many, many years ago a neighbor's husband made that statement and it was a very good statement. Personally, I like the free things in life, especially our freedom. My father said save a dollar every day and you will hit every month. Another thought comes to mind my father would say is "What do you need that for'? Oh well, it was his money. Know, I am the banker and I do watch very carefully by putting a limit on things such as goods and services. Now tonight, I am playing bingo, and for three weeks, I have been saving. Think and save that's what I say.
  57. Saving money

    by Sergeant Steen ONE of the many things that I do to save money is round up my purchases to the closest dollar at the end of the year you would be surprised how much that change adds up
  58. A good start for kids....

    by Sharon When my son was old enough (kindergarten) to understand the concept of money I wanted to teach him the joys of spending his own money on an item he wanted, SAVING and also GIVING TO CHARITY. I came up with a plan. He received an allowance every week (when he was 5 years old he would receive $5, when he was 6 yr old $6 and so on). This allowance was split up and he had to give to charity at least $1 per week (sometimes he would give more) and put half of what was left into savings and the other half into his wallet for him to spend freely. He is now almost 16 years old and we continue with this model and it has worked out great. He finds a charity once a year and donates the sum of money he set aside for charity. He always says that it makes him feel good! He also has a healthy and growing savings account. I have to say that as a teen I can see the influence this has had in him. Now I hope he will always apply what he has learned when he reaches adulthood.
  59. Easy Savings

    by Debby When I was a child we had to earn our own money, so if we wanted to go places we had to work. But I figured a system of for everytime I spent money I put the same amount in bank. My parents taught us early life is not free. With the values we had made it easier to see money grow in the bank. We never asked mom and dad for cash and one wise saying they told us if you can't afford to pay cash never get credit. We always played money games make believe it was a job and then write out a budget. I passed this onto my children and am proud of them all yes all 6 kids never got welfare when they left school they got jobs or went onto college. They now see the pattern and do the same with their children also.Moral of the story is easy savings equal a life of good things to come. So make a budget and stick to it you will never regret it. 
  60. I, too was taught to save money and plan for futur

    by Judy My daddy taught me very well on how to save money, and not only have a rainy day fund, but to make every penny count. I recently retired, sold my home and took the equity to pay cash for a retirement home. We were taught if you did not have the funds to purchase an item or to make payments on an item, then you do not get it. Do not over spend and budget well. Now that the years have passed, I am realizing that no one ever taught the government or the state on how to do the same. They continue to over spend, and believe is it easy to just raise property taxes, state taxes and etc, and not worry about how the people on a fixed income are going to accept the additional cost. Of course, we can do without our medication or doctor visits. Now that we have cut that out, what do we cut out next, I was not taught that! nor was the Government or the State.

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