This Friday Confession is:
I'm horrible at saving money!
It's pretty embarrassing to be honest. I will have every intention to put money away for a "rainy day", but I always end up getting in it and spending it. The bad part is that it's not always spent on a need. So what to do when you are a bad budgeter??? Well there are two things that I have done so far that have helped out MAJOR. One is I went and started a 529 college savings account through my bank for Milo. This takes $50 out of my checking every month and deposits into an account for college, technical school, or whatever Milo decides to do after 18. It's great because it comes out automatically and I can't make withdrawals from it, lol. Another thing I did was join a credit union this year. I chose KEMBA because quite a few of my family members are with them. KEMBA has accounts where you put money in them and choose the date that you want to take the money out. With these accounts you can only deposit money up until the date for the withdrawal. The funds will not be released until the date you specified when opening the account.
So, I'm working on being a better saver. I want to set a good example for Milo when it comes to budgeting and saving money. That, and I'm no longer frequenting Target stores like I used to :). What types of things do you do when you're trying to save up money?
Happy Friday!!!
My new nephew "Scooter" :)
I am trying to pay of previous debt more so than save money. I heard a woman on the radio talk about how her and her husband paid off something like $70k in 7 years. What they did was order their bills from smallest to largest. Then, they started paying more on the smallest. Once that was paid off, they took all the money they were paying on the smallest and applied it to the 2nd bill. So on and so on until they paid off $70k. This is our plan after the wedding. To save up wedding money, I just ended up taking on extra classes to teach. I may lose my mind :)
ReplyDeleteJust three more months, you can do it! :) And that sounds like a really good way to pay off debt (another thing I definitely want to work on).
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