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Old 02-12-2013, 07:19 PM   #31
RitaE
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I disagree that the person is setting himself for failure. In fact, I feel that you might be missing the point of this savings scheme. You see, in those later months, the saver won't have to figure out how to save $50 from his weekly budget. He'll only have to figure out how to save one extra dollar from his budget. The weekly buyer was already adjusted the week prior to account for the other $49.
or find a way to earn an extra $1.
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Old 02-12-2013, 11:25 PM   #32
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I decided to do this method myself, just for some extra cash on hand. I really don't even know what I will use it for, I just thought it sounded like a good idea. And it's easy.

I have a large, beautiful canister in my kitchen that I have always used as a decorative piece, I never keep anything in it. I've been putting my dollars in there every week. As an added bonus, every few days I empty out any spare change I have hanging around in my purse, wallet, or find while doing laundry and/or cleaning. It will be interesting to see how much that adds up over the next year or so.

I haven't told DH or the kids that I'm doing it, either. They pass the canister everyday not knowing I'm secretly stashing away some fun money for us. I must be bored because this makes it a little more fun for me. It's been a long winter!
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Old 02-12-2013, 11:39 PM   #33
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I saw this on FB and started doing it as well. We have other savings this is just for fun. I like the idea of switching it and getting the bigger amounts out of the way now...
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Old 02-13-2013, 07:03 AM   #34
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Think of it like a diet. Do you want to try to lose all the weight in the last month or a set amount each month?

Direct deposit works best as you get use to not having that money and getting to the money is not too easy to do. A jar with cash is easy to raid.
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Old 02-13-2013, 07:07 AM   #35
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OP, I think it's great your DH is saving and that you are both excited about having some spending money for Christmas.

Only on the DIS will you find people poo-pooing your plan for a Christmas fund.

Well said! OP, good luck on saving for your christmas fund, or even fun money!
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Old 02-13-2013, 06:22 PM   #36
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OP, I think it's great your DH is saving and that you are both excited about having some spending money for Christmas.

Only on the DIS will you find people poo-pooing your plan for a Christmas fund.
THANK YOU! I cannot believe how something so positive can engender negativity. I think that anything that can help inspire someone to do something positive for themselves is great.

this challenge was issued by Kassondra Perry-Moreland and over 4,000 people have joined it on Facebook. It is appealing because it lets you start in manageable amounts until it becomes a habit. Maybe everyone CAN'T save the big amounts in Oct/Nov/Dec...but whatever they save is better than no savings at all.
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Old 02-13-2013, 11:04 PM   #37
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THANK YOU! I cannot believe how something so positive can engender negativity. I think that anything that can help inspire someone to do something positive for themselves is great.

this challenge was issued by Kassondra Perry-Moreland and over 4,000 people have joined it on Facebook. It is appealing because it lets you start in manageable amounts until it becomes a habit. Maybe everyone CAN'T save the big amounts in Oct/Nov/Dec...but whatever they save is better than no savings at all.
I like this plan because it tends to force a person to budget his/her money and continually tweak the budget to make it better and better.
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Old 02-14-2013, 06:49 AM   #38
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I just received the latest copy of Chatelaine (a Canadian women's magazine) and on the front cover it said "turn $1 into $1300" and guess what? It's EXACTLY this idea! I agree with pp in that it slowly enables you to tweak your budget and find the money. When you see the money grow, you will start skipping that latte, etc. and put the money into your savings.
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Old 02-14-2013, 06:23 PM   #39
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or find a way to earn an extra $1.
it's not always a matter of how much money you make...more, it is a matter of how much money you KEEP. (this was taught to me by a self-made multimillionaire).

if you make $250k a year but you spend $300k, then making more money is not the answer.
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Old 02-14-2013, 09:05 PM   #40
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I can't believe people are arguing over this.

I started this too. I have $21 in an envelope. I should have the $1300 amount by the end of the year. Yay for me! Why is that wrong?
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Old 02-15-2013, 06:24 AM   #41
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I can't believe people are arguing over this.

I started this too. I have $21 in an envelope. I should have the $1300 amount by the end of the year. Yay for me! Why is that wrong?
There is nothing wrong with it!
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Old 02-15-2013, 06:25 AM   #42
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I can't believe people are arguing over this.

I started this too. I have $21 in an envelope. I should have the $1300 amount by the end of the year. Yay for me! Why is that wrong?
i say 'yay for you', too! i was lucky enough to find the challenge at the first of the year and each week is so much fun to throw my $$ in the jar.

it's not wrong...there are just always people who have to be negative no matter what. if you offer them free ice cream, they feel compelled to tell you how the cholesterol will block your arteries and kill you. They are called 'killjoys'.
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Old 02-15-2013, 09:34 AM   #43
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Started reading through and decided to just post. There are a lot of good ideas for saving. I understand the OP excitement that her hubby is doing some saving.

I actually deposit a set amount every two weeks to a vacation account with each paycheck. Right now it is 5% of my gross. When pay increases/raises come up, the amount goes up as well. We use this money for vacation only and it is not factored into our budget. If an emergency were to come up, we would have this money available to help and just skip vacations until we had the balance back up.

Good luck to all that are saving.
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Old 02-15-2013, 09:48 AM   #44
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i say 'yay for you', too! i was lucky enough to find the challenge at the first of the year and each week is so much fun to throw my $$ in the jar.

it's not wrong...there are just always people who have to be negative no matter what. if you offer them free ice cream, they feel compelled to tell you how the cholesterol will block your arteries and kill you. They are called 'killjoys'.
Thank you, ita.

Saving money is saving money. Why not just leave your comments to yourself?
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Old 02-15-2013, 09:55 AM   #45
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Thank you, ita.

Saving money is saving money. Why not just leave your comments to yourself?

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