Well, I wanted to share with you an easy, affordable way that we have chosen to save money. We started this plan a few years ago and in that time, we have saved somewhere in the neighborhood of $600.00, possibly more. To some that may not seem like a lot, but for as little work as I do, this is an incredible savings! Also, this is so easy that we never feel a pinch in savings or in spending it! In fact, we never even think about it! It's just something that happens behind the scenes! Okay, I've made you wait long enough!
For explanations sake, I have created a fake check register and I'm going to post a picture of it. I'm hoping that with a visual, I'll be able to explain it better!
Our plan is simply this...We round up debits and round down deposits in our check register! That's it!
When I add a transaction in my check register I also enter the real number first, for reconciliation purposes. When I enter in the last column, that's when I do my rounding.
For instance at Target $4.23 was spent. However, after rounding up, I enter $5.00. Then I just start adding up the savings and keep track under the description in parentheses.
So with the Target transaction, we saved $.77.
Next, the feed store...we spent $25.16. I enter $26.00. Our savings end up being $.84.
Add $.77 plus $.84 and you get $1.61.
Deposit of $112.84. Remember to round DOWN deposits. I enter $112.00, which gives us a savings of $.84.
Add $1.61 plus $.84 and you get $2.45.
Finally at Home Depot, the transaction is for $6.88. I enter $7.00 and that gives us a savings of $.12.
After adding $2.45 plus $.12, we have a savings of $2.57.
In just four transactions, we potentially could have saved $2.57! I think that's pretty good! It's like saving change in a jar without touching all that dirty money! :-)
With our savings, we have been able to give to others in need, go out on a special out-of-budget date, weekend vacations, buy a push lawn mower and purchase a TON of homeschool stuff! The possibilities are endless! For instance, besides what we have already used our savings for, you could make that your "Clothing Budget" for the year, or use it for storage/prep items, keep saving for future use, use it as your gift giving budget, and of course use it as a safety net if payday doesn't come on time or as expected!
What else could you use it for? Does anyone else use this plan to save money? Please share your ideas!
If you have any questions about this plan, let me know and I'd be more than happy to share! I hope that I explained it well enough! :-)
Blessings...
You have told me about this before....its a really neat plan. I think I'll talk to my darlin about it. Seems pretty painless! Love you!
ReplyDeleteDefinitely talk to him about it, because it is painless and an easy way to save money! Also come up with a really great way to use that saved money! Let me know what you decide!
ReplyDeleteLove you!
Not trying to be pushy my friend...but could we please see some activity on this blog! Thanks! lol
ReplyDeleteLove you