Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Hi. Has anyone ever participated in one of these before? I am starting one today and opened an online savings account for it. I've read some use an actual money jar or envelopes. It seems doable for people who have trouble saving or think they can't afford to save. It gets them started with small amounts. It's a cool way to save for a trip, invest it in a CD or IRA, etc. You can even double (if you get paid bi-weekly), triple, quadruple payments to your liking. Here's the chart:
Seems like a lot more work than just setting up a weekly transfer if 26.5, twice a month at 53 or monthly at 106. Those auto transfers take a lot less work and as such are more likely to continue I would think
Seems like a lot more work than just setting up a weekly transfer if 26.5, twice a month at 53 or monthly at 106. Those auto transfers take a lot less work and as such are more likely to continue I would think
Better yet, if you expect to be able to afford $52 in week $52 you can probably afford it today, so why not do $52 from day one so you have $2704 at the end of the year instead of $1378?
I've known a fair number of people that have no spare money. Not a dime. I could never convince them to save because they couldn't see what they were wasting money on, and that money can stretch.
I've known a fair number of people that have no spare money. Not a dime. I could never convince them to save because they couldn't see what they were wasting money on, and that money can stretch.
This might be the tool to teach them.
heck yeah...it's a start.
replace a coffee...half a pack of smokes...something.
Does this really encourage saving like the 'pay yourself first' concept, or do people just end up blowing the money on some big ticket item at the end of the year?
Does this really encourage saving like the 'pay yourself first' concept, or do people just end up blowing the money on some big ticket item at the end of the year?
Good luck with that. It is so much easier to save when you have a plan or goal.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
