Savings 101

I know that everyone always goes on and on about needing a savings. If you live on a fixed budget or check to check than you are like me and don't think you can have a savings.

There are a few tips I have learned to create a savings.

One of the things is to find your biggest frivolous buying problem and when you go to spend that money put it instead into a jar, coffee can, or move it over into your savings account. Don't buy those cookies this week. Resist the urge to go through the drive thru fast food.

If you get a tax return back, a bonus check, or come across some gift money make it a habit to save 10% on the side. I know it won't seem like much now, but it does add up.

Set 20 to 50 dollars a paycheck into savings. I know this is difficult when every penny counts. I am doing 10$ per child on this one. My father just puts 50$ to the side every two weeks. This does add up. If you're paid biweekly than it is 520$ saved just setting aside 20$ on your paychecks. Get paid every week and you saved 1,040$.

The hard part with savings is not spending it and also getting into the habit of putting the money into it. It is easy to say don't drive thru the fast food joint on paper but when the kids are crying they are hungry, your back and feet hurt from working a long shift, and I you just don't feel like cooking... Well, this is where will power comes in. Whether you are Pagan, Christian, or something else, we all know what will power is and how we easily can lose a battle against fatigue when we don't utilize our will. Right now think of things in your house that is easily made or can be easily prepped to be made.

The thing about a savings is the mentality that struggles now will pay off later. You can first save up four months of bills, then save up for that vacation to Mt. Rushmore you wanted to bring the kids on! Don't forget, once you start the savings to always keep enough in there for if you lose your job or an emergency arrives (like my sudden 2,000$ van fix-it bill that came about last month during a weather emergency).

Get creative with your savings, too. If shutting off the extra channels on the cable, lowering your internet speed or changing your phone plan is feaseable, then put the extra you would have spent into your savings.

Now sit down and recalculate what you have spent your money on in the last few days to the month. Could you have skipped buying the dollar stick on nails last week? Maybe you don't need to drink two sodas a day? Did Mikey really need the big bag of chicken nuggets? Once you figure out what you can save you might be  surprised.

Good luck!

-Cyra