What is the best way to start saving money in a savings account, etc.?

I am trying to build funds in a savings account. Could use some tips on saving, spending, and managing money!

Automatic withdrawal is a great way to go.

Mutual funds offer higher interest, with more risk.
Research www.TRowePrice.com

Savings accounts at banks offer a lower interest rate, but easy access.
Check with your bank for details.

rule of thumb think 20x before you bur something. ask yourself do you really need it? That will save you money. Try to set-up like auto deposit. (after all your bills are paid all your money will go to your savings account etc.) Always bring pack lunch at work. Skip fast foods and Coffee. Do the math if you buy $4 worth of coffee every workday that's $20 a week $80 a month $960 a year. hope it helps. And don't forget to participate in 401k specially if your company match what are you putting in.

Do not buy expensive stuff. Buy low price items? And don't fall for temptation. Try not to buy worthless thing on sale.

i would like to recommend

hsbc online savings, with a 6% APY

if u like, find a CD with at least a 4% APY

either way, u r gonna get taxed though

if u have alot of $$$, try municipal bonds

if u r hardcore (conservative i mean), consider creating a personal budget (well, to budget ur finances of course)

always be careful of waste and unnecessary purchases

Find out your short-term goal and how much it will cost. For example if you are trying to take a $5000 vacation in 8 months, set aside $625 per month. Start a NEW savings account and never withdraw from it until that day comes.

When you get paid, immediately take a portion of your paycheck out and transfer into savings. You decide the portion - either a dollar value or a percentage value. Never withdraw from your savings account unless there is a need. If you immediately transfer money out - you won't be able to spend it.

Automatic withdrawls from your account into your savings account not attached to your bank and forget about. This prevents you from having to think about it and telling yourself that you could really use that money now, plus if you cant see it, you'll be less tempted to dip into it from time to time.
Susie Orman has a really good book out "9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying" which has alot to do with financial planning.

Best of luck to you!

Money can be a difficult thing to handle,
especially if you don't have much of it.

Managing your finances can be tough
if you have to break it down into
groceries, bills, tuition fees,
and other expenses.

However, it is always sensible
that you put a portion of your salary
into savings, even if it's just
a few dollars every week.

Many unexpected expenses
can suddenly pop up and
having money in a savings account
can get you out of trouble.

Full article is here
http://www.accountbestsavings.co.uk/best...