Do you like
this article?
We send out articles like this one in our free weekly newsletter. The newsletter is written to motivate, inspire, educate, and entertain you.
To sign up, send us an email to Subscribe@TomorrowsEdge.net with the words "free motivational newsletter" in the subject line. We will be happy to add you to the list.
answers these questions
and more
Love & Compatability Angels & Spirituality Horoscopes & Astrology Self-
Articles Books Newsletters Abundance & Prosperity Family & Friends Contact Us ...and so much more
Secret Savings Fund
If you are anything like most Americans, then you have a hard time setting money aside for a rainy day. We’re supposed to put it away before we spend a dime on anything else, but just knowing it’s there can be half the problem. Knowing that there is still money at the end of the month can be tempting when the craving for pizza and movies comes along. I have found an easy way to save money without knowing that I am saving it. This method will work no matter how rich or poor your bank account is.
It involves a manipulation of the checkbook register. Normally, if you write a check for $10 then you deduct $10 from your register just like always. To secretly save money, change the way you are recording your transaction. When you are keeping track of your checks or debit card payments, lie to yourself. Round up to the nearest number ending with a 5 or a 0. If you write a check for $9.50, then you would still deduct $10. You have just added $0.50 into your savings account. Not much but keep at it. When you write a check for $10.50, then subtract $15 from your register. You’ve just added $4.50. Not only did you net $5 into your secret savings with those two transactions, but you have also simplified the math a lot!
When you make deposits, round down to the nearest 0 or 5 ending. For example, if you deposit $918 into your account, then only add $915 to your register. If you add $1104 then only add $1100. Again, you’ve added $7 with two deposits.
I have done this for years and have found that the average savings per transaction is about $2.33. You would think that it would be $2.50 because that’s half way in between $0 and $5. However, there are those times when you really do deposit or withdraw an exact $100 or $55, etc. There would be no need to round up or down because those already end in 0 or 5.
Whenever you are reconciling your checkbook, it becomes much easier. You check off each transaction that the bank has processed. You add to the bank’s total any deposits that are not recorded yet. Then subtract any outstanding checks or debit payments. The bank’s grand total should be bigger then your own because of all of the times that you have lied to yourself saying that you spent more then you did or deposited less then you did. The difference between what the bank says you have and what you say you have is how much you have saved. Ta da! You will be amazed at how fast the money adds up. The more transactions you run through your account the faster you will build a savings.
Years ago as a struggling single mom without child support, I was able to pay for family vacations, school clothes, and even the down payment on a car with money that I had hid from myself this way. I cannot tell you how many times I would remember that hidden money just in time to pay for a much needed car repair or children’s birthday parties when there was no money in the budget for such things. I promise you that you never really notice the missing money and it can really brighten your day when you suddenly realize that it is there when you need it most. It is kind of like putting on your favorite jacket at the beginning of winter and finding a $20 bill that you had forgotten all about.
Copyright 1999-
All rights reserved worldwide.
Email this article to a friend, bookmark it, or
tell your social networks about it. Just click
on the “share” button at the top of the page.
Thank you for helping us to spread the word.