So I just paid off ALL of my credit card debt (WAHOO!). Just have the car loan left and I’ll be entirely debt free. I am currently able to put back about $150 a month and I plan on sectioning it off into 3 or 4 different categories like Travel, Auto, Hobby, etc… so I can do the few things I have always wanted to (mainly travel to Europe and Africa), and have the few things I have wanted to own (like a late 80’s/mid 90’s model Porsche 911). 22 months ago
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I’ve been trying to save (unsucessfully) for years and years. Even when I had large chunks of money, it would get spent.
I openend an account at another financial institution that is not convenient to me. I have no atm card to it. I set up my online billpay to automatically send a payment from my regular checking account to this savings account the day after every payday.
I started small ($25) and every couple of months I’d bump it up by $5 or $10. The changes were so minor that I didn’t notice the loss in my account. I forget I have the additional savings except to remember and check in every couple of months. My bills get paid and I have extras, but if I run out of money, I’m out of money. 2 years ago
Before bills, before discretionary spending, before I do anything with any income I receive, 10% goes into my savings account. Non-touchable, except for emergencies. 4 years ago
i decided to give up on this because at this time in my life it’s just too unrealistic. that’s just the truth no matter what you say. one day, when i can, i will be able to pay myself first. but that day is not today. 5 years ago
Since I started paying myself first at least 10% of my income my savings have been steady growing. Our goal is to save enough to put a down payment on a new house and keep our first home as rental property 6 years ago