I guess this will just happen automatically since I’m now on the auto-save plan at work!! So I don’t even have to think about it.
In fact, I am getting an extra $20 taken out beyond a basic contribution, which the company matches. If I can’t budget around this I’ll have to adjust, but I’m going to give it a shot.
So I guess I can call this one ‘done’!
I have been looking at all sorts of goals and revising them. It’s interesting how things change over time. Because I am ‘getting out of debt’ via bankruptcy, it is almost impossible to save. I am still just trying to be happy while broke, but also change my relationship with money.
My boyfriend just moved into a 1 bd apt with me, so assuming that that lasts, I will have MUCH more freedom when it comes to money. But I still have to focus on how I view and manage my money, and it’s still hard to save. So I’m starting with a smaller goal.
My goal was to save a certain amount by June 2008…and I’m going to make it! It feels good, but still not enough $ for a proper security blanket, or to pay off any debts, or to even use some for a trip. This is the minimum amt to have at all times (only to be used in a serious emergency), it’s a little safety net, but the beauty is I should be able to double it (at least) in a year.
Slow and steady…
To complement this bigger savings account I have also decided to do a ‘mini savings’ scheme too: putting 10 or 20 / pay into a pot that can go to smaller expenses. This is for slightly expensive necessities that one needs to buy every few months like yoga passes, runners, computer accessories.
This is forcing me to think of not only what I ‘need’, but when I ‘need’ it.
i will probably never be rich, but I’ve recently opened a savings account. i would like to ‘use’ it for plenty of things, but i think that the goal of being debt free someday (even if this means i never ‘own’ anything substantial) is a good one, even if it takes forever.
i can’t remember what that feels like. i’m not even 30 and i’ve accumulated a mountain of debt. how did this happen?
i struggle every day not to let it get me down. after all, it’s just numbers. but it’s hard.
I have changed around my finance strategy, finally biting the bullet and putting almost entire paycheques to the credit card. But the $50 per pay is still realistic above and beyond this.
Quitting fund is equated with ‘healing fund’, really, an allowance to take time off work when not feeling well/just need to recoup.
I have been somewhat successful in saving a bit of $$, but its mostly because I’m using my credit card too much. I don’t really care…it’s the only way I can save up a chunk to get rid of my evil Mastercard, so be it.
One debt at a time.
well, i changed this from ‘start a quitting fund’ because i’ve decided to keep temping until about 1 year from now.
my ultimate goal is to put $100/pay away, but i know that this could be a little unrealistic with my bills and all. if i did that i could take a half-decent vacation by the end of this temp assignment.
either way, i can’t get free tuition as a temp so i figure i should focus on saving to travel – it’s time to go again. i suppose i might move instead, but at least if the $$ is there i have options.
well, i am not too close to my goal, but my job is supposed to end at the end of June, and I am already taking 2 weeks off at the start of June, which is a whole paycheque gone. I know that the amount of $$ I have stashed could carry me a week or two, but it just doesn’t seem like much. I will have to focus on using my small credit card to save actual cash.
The best thing about this plan is that I’ll have the money as back up if I need it, but if I don’t need it I’ll just dump whatever I’ve saved straight into my massive credit card. It’s a win-win situation, really.
I know that ‘saving money’ is always important, but having a very specific plan for it that is based on need and not frivolous spending is a good motivator.