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my money savings tips.

January 20th, 2019 at 05:37 pm

As many people click on articles or read books on this subject it seems like many tips are the same mantra repeated over and over.
The biggest thing is simply ONE size does not fit all goals and people are different. Stressing one item is a NO-NO or the only answer it tends to make my eyes glaze over.

So does reading another list finally click maybe not but mine is a little different.

#1 My first thing is really be Honest about where you ARE and where you WANT to be.
Goals are great but often abandoned not because they were not specific but because life changes and often goals and priorities need to adjust as well.

#2 Take care of the items you have. Even if the were inexpensive. I own items that still work well after many uses, years. while I watch many around me replace or update everything even if the item they had was useful

#3 It is easy to learn and glean information all around you. Some of my best "wins" were being right place and right time even just hearing the right thing at the right moment not searching for the right place or time or chasing the right return or deal.

#4 Know YOUR strengths and weaknesses and ask for and accept help when needed.

#5 Try out ideas or tips but be realistic about it. Some things that work for person A may not work for person B. Flexibility to change course or habits that are NOT working is a strength.

#6 slow and steady in the case of building wealth / climbing from debt or saving money often is the winning route. un-realistic expectations will derail a plan quickly

#7 deals, offers and loyalty programs while might provide some savings do not rely on them completely it is in your best interest to look around occasionally. what worked for you in the past might no longer fit your plan/ life.

#8 Procrastination is the enemy as in paying debt or savings do not start tomorrow when you can start today. Do not plan to start.... when I get a raise or better job etc.

# 9 Read the fine print and always understand the terms before it becomes an issue. this is especially good in insurance and loans.

#10 embrace where your are at each step and surround yourself with those who encourage or inspire you ( not only with words, but with their actions)

I saw this saying in a meme and it made me think
Hang out with 4 broke people you will be the fifth...... surround yourself with 4 who have financial independence you CAN be the fifth.

talking savings with NON savers

January 6th, 2019 at 03:54 pm

I have recently talked with others whom lets say, live a life that they will save later, I guess.

If is often amusing as one person wanted to talk stock market and real estate when he is NOT invested in either but was simply regurgitating whatever he heard on TV or read. He was upset that in a very high COLA he could not buy a house I told him most buy in the outlying area and commute. Many of his co workers do this and he said he wanted to not commute so far then decide that apartment life is it and get over it.

I am also amused that so many think they SAVED or got a great deal so.... so they spent the so called savings on the next thing.
A person making ends meet barely is taking 4 days off next week to go to Vegas with friends because she thinks she got such a good deal on flight/ hotel. If her friends can afford it great but I will be listening to her for a week after she is back about how broke she is.

Another item that confuses me is the idea to save up to pay off a debt.
I pay sometimes EACH week and yes it does lower AVG daily balance that they figure interest on.

A friend instead thinks she can save up a big amount and then send in a BIG payment...... great, except her savings earns much less then the interest on her student loans. I do not want to rain on her parade but want to understand WHY people do this?

I think some make savings harder then it needs to be.

one thing off my to do list

July 23rd, 2018 at 08:07 pm

I have a big to do list that I can't seem to get to. Today I did one of the things on the list. I opened a new account at a local bank since my nearest branch of regular bank is a pain to get to.
It was a special deal that if referred by a member ( my son) and open a savings /checking combo and make 5 deposits/ checks or atm / debit card transactions a month and in 90 days we both get $100 and they pay 6% on the first 500 in checking and 500 in savings so I will transfer over money to at least make the 6%. Every little bit helps right?

I opened account with some change I rolled up had $24 dollars. with a new account(s) to feed..... maybe it will inspire me to keep working even though I am still not thrilled about this job.