Friday, December 9, 2011

Dollars add up

This post is about having a little fun while saving at the same time. It may sound archaic but it works for frivolous purchases.  When at a store make sure you pay in cash and put away any $1 bills you receive as change. Don't use them for the rest of the day.  If you buy coffee later and it's $1.79 take out a $5 and pay that way.  At the end of the day take all those ones out of your pocket and put them in a bottom drawer somewhere.  See how many you can collect in a week, month, or even year.  I just did this for three months and had $350 - that's about $115/month in savings I didn't even know I was doing. That's $350 extra for dining out, a small trip, or even splurging on Guinness instead of Miller Lite for the month.

The first time I did this was in high school, when my dad suggested I save all my change.  Well, high school came and went and sure enough I had over $1,000 in change.  So what did I do?  I  ran to Best Buy and bought a DVD player (they were new and exciting at the time) and a bunch of DVDs I still have yet to watch, but the point is this small saving can really add up over time.

3 comments:

  1. Those companies may have made bad business decisions by taking lots of risky loans. Unfortunately, pointing fingers is futile, in my humble opinion. Instead of borrowing, let us start saving instead. ISAs are worth considering.

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  2. Thanks for these tips and insights. Whether you talk about travelling or improving a home, these have really useful applications.

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