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First of all, years ago I opened a separate savings account. I did not get an ATM card for it or any other amenities. Also as soon as I got them, I shredded all the withdrawal sheets. When the statement comes in every month all it takes is glancing at it to make sure there have been no withdrawals. This would alert me to any fraudulent activities. Once a year, I go back and log in all my monthly interest deposits.
Here comes the fun part. Every day I empty my pockets and purse. I put all my change and one dollar bills into a small piggy bank on my dresser.
When it gets full I dump it into a large opaque vase that I keep way up high out of easy reach.
When the vase gets full, I take it to the bank and deposit it into my "special" savings account. Since I only glance at the statement once a month I don't see how much it has accumulated, so I'm not tempted to spend it.
At the end of the year, I take only half of this money and transfer it to our regular savings account. Then I continue on with the special account as I did the year before.
By Cricketnc from Parkton, NC
By
07/13/2010
Every couple of days after spending, I transfer my 'change' from my checking account into my savings account (i.e. .25 click or .13 cents click = simple savings), been doing this only for a little over a month and I've already got $11 in there. My bank doesn't' charge me for transfers and my service charges for the savings account are included with my checking account charges, so the only 'activity' I need to worry about is 'transferring & saving'. This is not a get-rich-quick idea, but it's growing a lot faster than I thought it would!
By
07/27/2009
Cricketnc, what a great idea! Not spending something you really wouldn't miss anyway and earning interest on it is wonderful :-)
By
07/27/2009
Great idea! One caution; make sure your savings institution does not charge you for inactivity. Too many are doing that these days.Another trick to make that amount grow; when writing checks in your record, round the check up. Then note the difference at the end of the month, roll that amount to your special savings. More power to you young lady!
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