January 18th
When I was a little girl, I remember each week when my mom got her paycheck she would deposit a small amount of money, into a Christmas Club account. In December she would use this money to purchase Christmas gifts and all the goodies for our dinner. It was a great lesson to me that saving just a little each week would add up to a big reward in the end. Mom always paid cash, so she never had to worry about unwanted bills showing up in January. Let’s make this the year we save a little every week for a big payoff as a reward at the end of the year.
Saving is an important aspect of self-reliance. Print the savings chart and as you look it over begin saving by adding money to a special bank account or even to a cookie jar in your home. If you cannot afford the total amount each week find a week you can afford and cross thru it marking it paid. If you can afford more, add more.
This week let’s also begin saving on our expenses. Remember even small savings add up over a year.
Give up habits. Give up that candy bar, do your own nails, or forget lunch at a café, instead bring a yummy meal, one you prepare at home. Consider this, Next time you are tempted to indulge stop and think about what that money could purchase at the end of the year. With the money you save by making a lunch you could pay off a credit card debt and then you would save all that credit card interest.
Lunch….A burger, fries and a soda will cost between $12 and $17 per day. A sandwich will be the same. Figuring you have a three-week vacation and a few days sick leave you will eat lunch 240 times equaling $2,880-$4080. That is a lot of money! Kids attend school about 170 days if they eat lunch out that’s $2040-$2890. Bring a sack lunch!
Nails…Pedicure and manicure $25-$125. Multiply that by once a month and you are spending $300-$1,500.
Even a daily soda or candy bar will cost you $260 a year if you have one just 4 times a week.
All those seemingly small habits can really add up. What habits can you give up or modify?
