or something like that. I set myself a goal of saving $20,000 this year. So far this month I have added 1350.00 and taken out 200.00. This is not good. The debit was a transfer to the RachelPie's account that was "slightly" overdrafted and I was trying to stop the hemorrhaging of 35.00 fees. Those things add up in a heartbeat!
I have a box of stuff to take to Half Price Books and hope there will be cash for some of it rather than just store credit. I hope to get that done by tomorrow for the end of the month tally.
One thing I have been thinking of doing is taking the total amount deducted off my grocery purchases for coupons and adding that amount to savings. It will mean a payment out for the net amount of the groceries and another smaller payment to savings for the coupon savings. So I will be paying "full price" out of my checking. Is this worth it or is it just confusing? I want the whole total over a month or over the whole year of coupon savings to be tangible, and if I get $10.00 off and don't do anything with that $10.00 it just gets lost in the checking account and isn't really meaningful. Am I figuring this right or am I confusing myself?
The other thing I am doing is each week I withdraw money to be my spending money for the week. At the end of the month if I have any of that left over I am going to put it in the savings. I hope this will help me want to NOT spend it all each week.
Do any of you have any other things you do to add to your savings? Helpful tricks, hints and such?
It's a great idea to take the money you are savings on groceries and put it aside so it's actually savings at the end of the year!
ReplyDeleteA tip is to NOT to put it into a general savings account to mingle with your other savings, but to put it in a separate pile. That way you can visually 'see' which money saved was grocery savings. The OCD in me would do it this way...lol
Using savings to help the kid avoid paying for money mistakes, huh?
Depending on how old the kid is, maybe she needs to suffer those fees so she will learn not to do whatever caused them again....May cause her some money hurt now but might avoid it later when she gets right with handling her money....and then again, I could be wrong.lol
ugh, those $35 fees are THE WORST! Tell her to cash her checks from her loving aunt and uncle :)
ReplyDeleteI am normally so on top of savings, but with tens of thousands flowing out of my savings and off to Texas A&M, I am not the advisor I once way. I have relegated to depending on the IRS to give me money, the company to give me bonuses, and tuition reimbursement. That then goes into savings and will be flowing out of savings towards a Mediterranean cruise post-graduation.
My best saving plan currently is to sock away the max IRA contributions. I view that as can't-touch-this money, so it is true savings that won't be dipped into for cruise purposes ;)