As an incentive to save, I pay myself for the effort. I have a seperate "coupon" savings account. Anytime I save using coupons, bonus points, rebates, refunds, etc., I deposit the amount saved into that account. I keep my coupon account at the credit union (not my normal banking institution). At the end of the week, I total up my savings and write a check to myself from my bank to the coupon account.
For example, last week I saved $54 using coupons and bonus points at the grocery. Then I received a $25 rebate from Olay, and a $70 debit card from Verizon. I deposited $149 into my coupon account.
While this is really just consolidating the savings into one place, I find it motivating. Saving money really can be a game and I, for one, like to reward myself for playing. If you are a savvy consumer, it really doesn't take long for money to add up. In 9 months time, I've saved close to $1,500.
I'm also moving into paying myself for NOT buying things. I find I spend ALOT of money on just stuff - stuff no one really wants or needs. (I have a hard time passing up bargins. I find myself coming home with random things: a new shirt for my daughter, a toy for one of the grandkids, etc). Rather than spending that money, I'll start putting aside that money into my coupon account. That way I will reward myself for showing restraint AND saving for something I'll really want in the future.
No comments:
Post a Comment