Motivation Articles

SparkGuy's Savings Jar Club - Draft

3SHARES

Introduction – Reasons for the Savings Jar Club

Hello Everyone

I started SparkPeople to help millions of people reach all kinds of goals - usually using health and fitness as a springboard to success in other areas.  Another area that really interests me besides health and fitness is finance and savings. I've spent the last 3 years learning how to be a good investor and now manage most of my portfolio myself.

Good savings and investment strategies can have a dramatic impact on the quality of anyone’s life.  Also, this doesn’t have to mean depriving yourself of things that make life enjoyable.  In fact, the opposite is true.  By learning how to be a good saver and investor, you will probably end up being able to purchase more things that are meaningful to you AND save money for retirement and other big life events as well.

One thing that frightens me about
now is that Americans currently spend more than they earn (collectively) for the first time since the Great Depression. Yes, we have a negative savings rate. I won't get into all the details of what problems this could cause yet, but I have decided to see if I can help do something about it - hopefully with your help.

Savings goals and investing is very similar to the SparkPeople philosophy of losing weight - small steps done consistently over time lead to big results.  So, I'm starting something small right here and hope that it will lead to something big over time - the Savings Jar Club.

To kick this off, I have just placed a "jar" - for now a small plant holder - on my desk and put $1 in it.  I am setting a goal to put at least $1 in this jar every day for the next year and then deposit it into the bank at intervals so it will earn interest.

My challenge to everyone else is to join in and help me. I'll set a modest goal to start. By
December 31, 2006, I hope to have this Savings Club reach a total of $10,000. Hopefully I'll have to revise this goal upwards as we build momentum.
Continued ›

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Member Comments

  • I know my spending and weigh issues are connected. I'm in a pickle in both areas. I know the only way out is one step at a time and to start where I am. I'm working on the food, need to work on the money because there won't be money for new clothes... naked just doesn't work! I also need to make sure I have an emergency fund. I'm going to do a $1 a day, more on days I don't exercise. I'll probably add more on days I don't make certain food related goals. I find that doing it the other way, I won't exercise or whatever if I'm running short. Need to give this a try. - 6/29/2014 2:35:51 AM
  • I think this is a great idea. I started putting $2.00 a day in a jar on my dresser to pay for new cloths for my externship and eventually my new job. I have been going to school instead of working so our savings has been depleated. This is my way of budgeting for new clothes. This money is loose change that is never missed. I have over $200 so far. - 4/14/2012 8:28:15 PM
  • GARCIA1ICON
    hay great article. I will ask my hubby to go through and start today
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    http://www.savi
    ngforex.com - 10/12/2010 7:10:30 AM
  • My jar is to get homeimprovements done before I retire! Thanks Chris and every one for the motivation!! - 10/4/2010 12:40:15 PM
  • This is great! my first saving jar is for a vacation to a health resort next year.
    - 12/2/2009 6:29:19 AM
  • JAE_HENNINGTON
    this really great... I am starting today - 8/23/2009 10:22:24 AM
  • This article was really helpful and I'm starting my savings jar today! I will put in $1/day and plan on depositing every 3 - 6 months in a savings account. I want to plan for a really nice vacation for my children - they deserve it! And I want to do this without going into debt! - 9/24/2008 11:16:49 PM
  • I love this article! I started a vacation jar with my son 2 months ago and we are up $200. I told him it was our vacation money but I think it's going to be his first savings account (he's 9) I'm joining this team :) yippee!! I'll start a separate jar for vacation.

    :) - 12/13/2007 1:31:38 PM
  • I love this article! I started a vacation jar with my son 2 months ago and we are up $200. I told him it was our vacation money but I think it's going to be his first savings account (he's 9) I'm joining this team :) yippee!! I'll start a separate jar for vacation.

    :) - 12/13/2007 1:31:10 PM

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