MSN MONEY TIPS

Since we’re not Mr. Spock, savings tricks can prove mighty helpful. Here are some of the things MSN Money readers say they do to get themselves to put aside a little extra (www.msn.com).





"Pad your accounts. If you use personal finance software, you can just enter a check to yourself for $300 -- or $500, or $1,000, or whatever you want your pad to be. The check needn’t actually exist or ever be cashed, but the software will treat it as an outstanding obligation and deduct it from your balance."

Jeff's Thoughts

This is lame. Is this not simply another way for people to misbehave when it comes to their checkbooks? "I'll write a fake check that makes me think I have less money. That way, when I overspend and bounce a check....I only think I did. Thanks, "fake check". Just lame. You're fixing the sympton, not the illness. (Thanks for the call)

“What I have done is to add $300 to my checking account, but not include it into the balance,” wrote Gregory Hannon, a utilities administrator for the city of Longview, Wash. “Basically, the money is hidden. . . . This is my way of making sure that should it happen that I write a check without the funds (according to the checking account balance), then I know I am covered."

Jeff's Thoughts

Call me stupid, but isn't this the exact same suggestion..just reversed? Either way, this is lame.

"Cull your bills. Here’s a twist on the classic savings tip of dumping your change in a jar: set aside certain denominations, such as fives or tens, whenever they make their way into your wallet."

Jeff's Thoughts

This is actually a good idea. I do this a lot. It is a nice way to go out to dinner or change your oil without having to feel fire on the backside of your britches.

"Realize your rebates. Several posters recommended saving the money you get from rebates, shopping sales or using coupons and club cards at grocery stores."

Jeff's Thoughts

Oh, come on! If you want to save money, just save it. Why do people have to plot out these elaborate saving plans. When you get a paycheck direct-deposited into your account, setup a separate savings account or money market fund that automatically transfers X percent on the day of your deposit.

"Grocery stores tend to make this easy; they often print on the receipt exactly how much you saved. You can transfer that exact amount to a savings account or, if you still write checks, you can make one out for the amount of the savings and deposit that -- or simply round up."

Jeff's Thoughts

Good lord; these people are creative. I guess whatever gets you saving is the key. In the last few years, I've read A LOT of finance books. Lately though, I've realized that I'm basically reading the same book over and over. This stuff just isn't that hard to do. It reminds me of all the different diet books. In the end, what is the real way to lose weight? Don't each so much and exercise. How do you save? Save your money.