By Flea - Be A Survivor
People have lost their way when it comes to money. Many people have no concept of living other than paycheck to paycheck which is quite the precarious position to be in. Saving some money for a rainy day is probably one of those most important things you can do for yourself and your family.
“But Flea I am broke!”
“But Flea I don’t make that much!”
“But Flea there ain’t anything left after I pay my bills!”
These are the excuses I can already hear in my head as I write this post. My response to them is, that is the weakest BS I have ever heard in my life. There is always something that can be put away and if there isn’t maybe you should adjust your position by getting a side job or finding a way to make some extra money (legally of course).
My wife and I started very small when we started our first savings account. We both work and we elected to put back $100 a pay period. We get paid every two weeks so that worked out to $200 a month. That account now has several thousand dollars in it DESPITE the fact we had to tap it for a few thousand a couple of years back.
The key to success is to pretend that money DOES NOT EXIST! Make it difficult to get to and adjust your spending so that the money that goes into the account is never considered in your spending. We soon learned to live without the extra $200 a month. We also used a passbook savings account so that it was more difficult to get to than using a few clicks of a mouse button.
The best thing to do is to have the money directly deposited into your savings account. This will ensure you never see the cash, make regular deposits and above all avoid the temptation to spend it rather than save it.
We consider this account money of last resort which means we really need to be in a pickle to have to tap into it. The power of interest has helped as well, although a money market savings account or CD might be a better choice if you want to maximize interest.
There is no excuse for not having some savings put back. You are placing yourself and your family in danger if you do not. Start with whatever you can afford, even $20 a month will get you headed in the right direction. The key here is to start, lack of action in this area is setting yourself up for a real disaster in the future when you will be forced to incur debt or do something crazy to make up for a financial shortfall.
Get started with a savings program today to give financial security and peace of mind to yourself and those you love.
...that is all.
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