Money Saving Idea.

[Teal]

A,couple days ago, my wife showed a chart she found on the Internet that shows a person how they can save money by doing it once a week starting at the first of the year. Each week, you will one more dollar than you did the week before. So if you start on the first week ok January and put 1$ in jar and then the following week put 2$ and then on week 3 add 3$'. On week 40 add 40$ and so forth until the end of the year, you will have saved over 1300. ( I forget the exact amount).

The wife and I have decide to both do that separately and see what we have toward the end of the year, I have even thought of starting another jar in may, so,we,will always have vacation for the summer.

And if I ever quit smoking, I will add the 5.00 a day to it. Please no ragging on me for smoking. I know, I know, I had quit for 4 years before I started up again.

As bassfishermen we are always buying and not always saving ( speaking for myself) figured I would share this with you guys.

[Tuckahoe Joe]

Not a bad idea.  I can see it working for some people.  I could probably handle it between 10-20 dollars a week.  Living paycheck to paycheck (and the paychecks aren't that big), for me putting any more than that would mean not having money for food or rent.  Im a delivery driver and I actually have a jar that I put my cash tips in til I can get to the bank.  The problem with a jar of money sitting there is that it can be pretty tempting.  "I feel like pizza for dinner."  20 bucks out of the jar.  "Im low on gas".  20 bucks out of the jar.  But be that as it may, if you have the income to spare and can manage to leave the jar alone, go for it.  Sounds like a great idea.

[Nitrofreak]

What a great idea !!!!

 

I just have to find a hiding place, my wife will spend it.

[Jigfishn10]

If you lived here, you would be saving $8.50 for a pack of smokes.

 

I had brought this up to my wife, if she quit smoking I could save $50/per month just on our health premium thru my company I work for. I'm saving $50/month on health insurance b/c I'm running 3 miles a day/4 days a week and have lost 18 lbs thru my company's health premium. Add in the cost of smokes and we could have a huge savings...Ya think she would be motivated to quit? Not so, my friend, nicotine is a very powerful substance, more powerful than money to some folks I guess.

[deaknh03]

If you lived here, you would be saving $8.50 for a pack of smokes.

 

I had brought this up to my wife, if she quit smoking I could save $50/per month just on our health premium thru my company I work for. I'm saving $50/month on health insurance b/c I'm running 3 miles a day/4 days a week and have lost 18 lbs thru my company's health premium. Add in the cost of smokes and we could have a huge savings...Ya think she would be motivated to quit? Not so, my friend, nicotine is a very powerful substance, more powerful than money to some folks I guess.

John, unfortunately, more powerful than life.

[Jigfishn10]

You got that right Derrick! 

[ClackerBuzz]

wow i was curious what the math was:  $1,378.  thats awesome

[Teal]

The cool thing about this is that it is an way to discipline yourself in saving money. It starts with baby steps that you will not even notice at first. I'm not saying that I won't notice the last 10 weeks of this, but the first 10 won't be hard and it works slowly into that higher range of deposit.

What Laci and I did so we can try to be at potential of this experiment a few weeks before christmas. we both put 10 bucks ( which is weeks 1-4) into our respective savings " jars" so on next friday we will start at week 5.

( I'm also the worlds worst for having change in pocket at the end of the day, so I'm gonna contribute that too)

[slonezp]

Get rid of the women in your life and you'll be filthy rich.

[Broke bass fisherman]

Wow. That seems really easy. But like joe I live paycheck to paycheck. Sad really, I work to hard to be this broke. Will definitely try this in the future thanks for sharing.

[Sam]

Teal, you are now on the Bait Monkey's 10 Most Wanted List!!!!

[SirSnookalot]

Try doubling a penny every day for a month......bet ya can't  do it.

 

I don't advocate smoking but if you do there are better deals out there than at your local drug store.  I pay $25 a carton of non FSC cigarettes.

[Teal]

Haha thanks Sam, I think I've done enough damage to keep him a bay for a little while

[kanasbassfisher08]

i save twenty dollars a week every check that i put into a fishing account and at the end of the year it pays for a nice week long fishing trip. but good tips for sure.

[flyfisher]

Easiest way to save is to have it direct deposited from your paycheck into an online only account. That way the money is gone before you ever see it and you can still get to it if needed but it isn't as easy as reaching into a jar.

I started doing it with $10 and now worked my way up to over $100 a paycheck. Usually it pays for Christmas shopping or something for the fiancée. My fishing stuff comes out of other accounts as it is needed

[Teal]

Fly fisher, we,both used to do that, but now When we do that but the money goes into our 401ks and our sons college savings account through our respective jobs. Both of our jobs have really good 401ks . So we thought our saved money would be better off in something like that than in an account that we can access. lWe still manage to have enough left over to save some that we actually can access. I thought this,would be a good idea in addition.

[flyfisher]

Yeah not taking advantage of a company match 401k is one of the biggest financial mistakes people make. That and if your company is large enough to offer an employee stock purchase plan and you don't take advantage. I know mine I get a 15% discount so that is easy money to me.

[Teal]

I know that's right, the way we look at it is that we would rather have extra money in the future and be able to retire at age 45 and work a part time job at my own pace than have extra money in the bank now and blow it all just because we have it.