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PEPPERMINT125's Photo PEPPERMINT125 Posts: 1,417
7/27/13 8:19 P

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My personal reflection for Idea #2 is that starting small will keep me from making the excuse to not start because I don't have extra money. For me, because I have a lot of debts to attack right now, I will start with $50 per week. And as each credit card is paid off, I will increase my monthly savings goal. If we are running short for the week, we may have to cut back on eating out for the week, or postpone shopping or other discretionary spending.
The other thing I will do so I don't forget is to set up an automatic transfer to savings from checking every Friday.
Note, We only get paid once a month with my husband's business, but I find it works to break our budget out weekly. I pay a lot of bills weekly (credit cards, etc) That way I don't get to the end of the month without making most of our monthly payments.

Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


 September Minutes: 0
 
0
337.5
675
1012.5
1350
PEPPERMINT125's Photo PEPPERMINT125 Posts: 1,417
7/27/13 8:09 P

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The second idea is related to Idea #1 of Start Now. That is to start small, even if it is $100 per paycheck or $25 per week. The key is to start even if the initial amounts are small. Make sure you have a separate savings account and actually transfer the amounts to this account.
It will feel good to see your savings grow each month, even if it is slow.
You may need to make small sacrifices at first to make your savings goal.
As you get used to the habit of saving, you may find you are able to gradually increase your monthly savings goal.

Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


 September Minutes: 0
 
0
337.5
675
1012.5
1350
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