Comments on: Twenty-Something Confessions: To Save or Not to Save? http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/ By Tegan Zimmerman Sun, 20 May 2012 15:35:38 +0000 http://wordpress.org/?v=2.2.1 By: Caroline http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-259 Caroline Tue, 31 Aug 2010 14:43:09 +0000 http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-259 Great thoughts Tegan! I often face the same dilemma you described. The only thing I would add is to consider the value of the purchase. Because the lines between want and need are often blurry. Whether large or small, is it an investment purchase? Will this save you from having to spend more money later even if it's a little more now? Is it going to save you time, energy, and make you happier than you would be without it? Do the benefits outweigh the costs or will it just set you back further on your financial goals? When it comes to grocery shopping, does the generic food have the same (or better!) nutrition stats as the similar item in the organic section? Sometimes. Does the beauty product from Sephora give you better results than the OTC product at Walgreens? Sometimes. It's that kind of thought process I have when I make those purchasing decisions. Do I really need my hair done for THIS weekend or can that purchase wait a couple more weeks so I can squeeze in a few other priorities on this paycheck? I'm still living at home, but getting an apartment (!!!) with Ross this month. So while I have been a little swank living at home, I've still saved. I'm still able to move out and be financially stable on my own. My parents have the same cut-off mentality as yours. But I can say that I'm finally ready! :) Great thoughts Tegan! I often face the same dilemma you described. The only thing I would add is to consider the value of the purchase. Because the lines between want and need are often blurry.

Whether large or small, is it an investment purchase? Will this save you from having to spend more money later even if it’s a little more now? Is it going to save you time, energy, and make you happier than you would be without it? Do the benefits outweigh the costs or will it just set you back further on your financial goals?

When it comes to grocery shopping, does the generic food have the same (or better!) nutrition stats as the similar item in the organic section? Sometimes. Does the beauty product from Sephora give you better results than the OTC product at Walgreens? Sometimes. It’s that kind of thought process I have when I make those purchasing decisions. Do I really need my hair done for THIS weekend or can that purchase wait a couple more weeks so I can squeeze in a few other priorities on this paycheck?

I’m still living at home, but getting an apartment (!!!) with Ross this month. So while I have been a little swank living at home, I’ve still saved. I’m still able to move out and be financially stable on my own. My parents have the same cut-off mentality as yours. But I can say that I’m finally ready! :)

]]> By: Jason Leong http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-186 Jason Leong Thu, 05 Aug 2010 18:43:15 +0000 http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-186 This is great article and so relevant to twenty somethings considering their financial options! I believe that another factor regarding purchases is deciding whether it's a "want" or a "need." This tends to curb excessive impulse purchases. Also, determining whether a person lives at home or their own place has a lot to do with accessing which environment will be most conducive to their growth. Some might need the support system and some might need the independence to focus on their goals and aspirations. Both can work. This is great article and so relevant to twenty somethings considering their financial options! I believe that another factor regarding purchases is deciding whether it’s a “want” or a “need.” This tends to curb excessive impulse purchases. Also, determining whether a person lives at home or their own place has a lot to do with accessing which environment will be most conducive to their growth. Some might need the support system and some might need the independence to focus on their goals and aspirations. Both can work.

]]> By: Gloria http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-179 Gloria Sun, 01 Aug 2010 19:20:07 +0000 http://teganzimmerman.com/2010/07/27/twenty-something-confessions-to-save-or-not-to-save/#comment-179 I love this post! I was and still basically am in your same situation. I lived at home for almost an entire year and was saving money, but also realized that living at home isn't a feasible money saver for everyone. Not to mention $140 monthly Metra train passes add up as do starving at the train station after work and hitting up Jamba Juice and McDonalds. My tips for saving once you have a full-time job is to set up direct deposit into a savings account. For example I put over a third of each check into a savings another third into a checking that's only used for rent/bills and the remainder (varies by check) will go into a third checking account which is what I use for everyday spending. I realize three accounts doesn't work for all, but it fits my lifestyle/spending well. Also, I love daily deal sites. Granted for some it encourages extraneous spending but for us living in Chicago these sites are awesome at giving you deals to GOOD places that you'd go to anyway. My only advice: AVOID DILLYEO.com. I worked for them for less than a week. Total scam artists. I love this post! I was and still basically am in your same situation. I lived at home for almost an entire year and was saving money, but also realized that living at home isn’t a feasible money saver for everyone. Not to mention $140 monthly Metra train passes add up as do starving at the train station after work and hitting up Jamba Juice and McDonalds.

My tips for saving once you have a full-time job is to set up direct deposit into a savings account. For example I put over a third of each check into a savings another third into a checking that’s only used for rent/bills and the remainder (varies by check) will go into a third checking account which is what I use for everyday spending. I realize three accounts doesn’t work for all, but it fits my lifestyle/spending well.

Also, I love daily deal sites. Granted for some it encourages extraneous spending but for us living in Chicago these sites are awesome at giving you deals to GOOD places that you’d go to anyway. My only advice: AVOID DILLYEO.com. I worked for them for less than a week. Total scam artists.

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