BadArt

Save A Little Every Week

If you don’t have a nest egg it's a good time to start one.  Make a plan and stick to it;  put X amount of money away every week.  This summer our AC (105degrees this summer in Austin, Texas) went out and I had the money to repair it.  I did not have to worry or wonder what would not get paid or have to put it on a credit card.  A nest egg is your piece of mind.  Here are some steps to getting it done.

Cerebral Agave by Della Badart

Pay yourself first.  This means take the first ten percent of your income and immediately put it in savings.  I have direct deposit to an online account for savings.   This is the account you do not touch.  You don’t even look at it.  It is there for the big stuff.  

Not missing the 10%  There are plenty of things we casually do on a daily basis that whittle away at our income.  If you have a habit smoking, energy drinks, awesome coffee drinks teak it.  Purchase cartons in bulk, buy six packs, an espresso machine would save you money.  For example steak dinners restaurant tab for family of four easy 100 bucks easy at home with wine and dessert fifty.   Do it smart?

Don’t use credit  It Sucks.  Look at everything you purchase with a card and imagine the interest rate was attached to the price. Would you pay 10, 15 or 20 percent more for your gas, that trip, dinner?  NO.  Save the money first than buy it.  If you don’t have the money don’t buy.  Remember when you wer a kid and you had to wait.  Get some patience.

What is an emergency?  This is really big.  Because dinner with friends, a vacation, and blue dress on sale does not qualify as an emergency.  Rethink priorities and use emergency funds and credit only when there really is an emergency.  Like your AC going out in the middle of a hot Austin summer.

Budget for your life. The only way to budget is know what your true needs are.  To know this you need priorities.  If you need to buy a car but you spend twenty bucks a night having drinks or lattes your priorities are screwed up. I’m not saying don’t have a drink but cut down.  Three days at home would put $240 a month in you pocket towards a NEW CAR?  And if you tried just a little you could find free fun. So set out your expenses and budget for priorities.

 The point is to save a little bit every day to make your big dreams reality. The difference between you and the guy with lots of toys is good credit.  The difference between him and homelessness is one paycheck.

 http://dailyworth.com/posts/1061-A-Chance-to-Double-Your-Savings