Here is one example of why “It is impossible” is a myth that isn’t true. It is a small example, but you can see where commitment equals success in savings.
Over the last three (3) year my wife and I have run an experiment that I think we will continue for a good and long while. We watch the ground for money.
That’s right. We look for “fallen money” or “other people’s money” that they don’t want or simply money that bling blinged to the floor or parking lot so we could spot it and retrieve it just for looking with a keen eye.
If you have been reading this blog for some time, you know that we have a jar in our kitchen that we put our found money in once we discover it. This money adds up each year. A lot of people think, “How much money could you simply find on the ground?” Well, every year we collect the money in our little jar and then use it at the end of the year to open up a 12 month CD.
About this time each year I give an update on what we found in latest year.
Can you save money on any budget? Yes.
In 2010, we found $86.80. That’s $86.80 that other people – that we don’t even know – left to us. They say you hope you get lucky in the New Year. We find we make our own luck by watching what is going on around us.
In 2009, we found $61.47. That money has grown to $62.57 (this is money we are earning on other people’s money).
In 2008, we found a total of $26.95. That money has grown to $27.39 (this is also money we found on the ground; this is money WE are earning based on other people’s money).
No, this isn’t a huge amount of money. But it is an experiment and we are growing savings off of other people’s money. That’s a total of $176.76. And it keeps growing.
What will we find in 2011? I can tell you there are already pennies in the jar this year (and we’ve barely begun).
If you commit, you can begin a regular savings program. This means that you can develop tactics you can find useful in generating regular and irregular savings (and you should make it a goal to have both).
The average family today needs 15 to 18 months of expenses in emergency savings. No worries if you don’t have it right now. Set goals. Brainstorm with the family. Reduce debt and reduce payments (if you don’t know what we mean, look in past blog entries or at http://www.MiddleClassMoney.com).
This could be your year. Get started. Keep after it.
You can do it.
HELPING YOUR KIDS GET AHEAD
If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. Our people have had “emergencies” all our lives. These emergencies always get in the way of saving money regularly, and our family is not different than millions of other good American families. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I have had to learn from my own mistakes over time. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle or allowing “it” to overwhelm you. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”) associated with our mission!
It is our goal to encourage everyone to teach our children about money, managing money, and saving regularly (and automatically. Children should receive lessons about compound interest and steady investing for a long-term future before they face the hard choices of adult life while being subjected to the consequences of the high-speed marketing culture we live in. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor by simply sharing with them sound saving and investing principles.
You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group. You can get our free e-saver newsletter by signing up at http://www.StickyAsset.com/blog.
If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.
Good luck to you and your children.
Thank you for reading our blog and good luck!
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