My Online Pledge to Save!

may3545 · Jul 2nd, 2008, 09:59 PM

This is my solemn vow and pledge to commit to saving and investing in my future, and not my material desires. It has come to a point in my life where I am happy with what I have and shall focus more on who I am.

Therefore, on this day, July 2, 2008, I, May3545, commit to saving 50% of my net paycheck into a savings account that will be untouched until I need either A) a new car or B) a home to live in.

I will live on the other 50% of my paycheck for rent, bills, gas, food, etc. There will also be enough left of the 50% for any "fun," but it also must be earned, not splurged. Therefore, a vacation or flight must be accumulated, new shoes must wait, and the new purse may come later. Furthermore, I will contribute to my maximum 401K and attempt to max out my Roth IRA before the year is up.

My next paycheck is coming, and I will place 50% immediately into an online high-yield savings account at HSBC. I made my calculations, and this is feasible. I just have to stop my impulses (I do NOT need those pearl stranded necklaces nor do I need that vintage beaded clutch, and I DEFINITELY do not need another Hermes handbag). I even calculated a pair of Manolo Blahniks I have pre-ordered that shall come in October. I will have enough for those so whoohoo!

Here is my electronic signature as a promise,

may3545

***If you are also interested, write your pledge here as well, even if it's more or less than my goals. A buck saved goes a long way!***

digby723 · Jul 2nd, 2008, 10:11 PM

Congrats on your pledge!!!

I pledged a month ago to start saving in my ING account $75 every paycheck (I don't make a ton) and when I get my bills paid off (goal is end of Sept) I will contribute half of my paycheck too.

Congrats again though, this might suck at first, but, you will be really happy with the end results!! :)

may3545 · Jul 2nd, 2008, 10:26 PM

That's great digby! I started out with just $25 a month into my savings because I was so deep into debt. Now I'm debt free and ready to build a wonderful future.

fieldsinspring · Jul 2nd, 2008, 10:53 PM

That is a great pledge may and I am awestruck at your accomplishment from $25/month to being debt free... you are inspirational, thanks!

lolitakali · Jul 3rd, 2008, 01:07 AM

Wise move!

~Fabulousity~ · Jul 3rd, 2008, 11:44 AM

I pledge to not do anymore shopping for myself or my girls unless absoultely neccessary! I pledge to live by a strict budget from here on out and not go over it by any means neccessary

I pledge that everytime I get the urge to make a purchase I will put that money towards my cc debt instead. I pleadge to be cc debt free by 2010

uafly1 · Jul 3rd, 2008, 01:08 PM

Good for you. I did this a few years ago and was shocked with how much I managed to save.
It's fun to watch the account grow.

aine1313 · Jul 4th, 2008, 11:05 AM

good luck..big trees out of small acorns grow.

gloss_gal · Jul 5th, 2008, 08:29 PM

Good for you. I like your blog. I have to work on my pledge.

qwerty234 · Jul 6th, 2008, 07:10 AM

Great idea!

Good luck!

I'm currently saving 50% of my paycheck to through direct debits, but often pulling money out of savings to pay off my credit card every month

I'm not really saving it if I keep using it!

So I pledge to stick to my budget of living on 50% pay a week, and to buy no more clothes for....2 months!

Jul 2nd, 2008, 09:59 PM	#1
may3545 Happy living Joined: Mar 2006 Location: NorCal Posts: 2,404	My Online Pledge to Save! This is my solemn vow and pledge to commit to saving and investing in my future, and not my material desires. It has come to a point in my life where I am happy with what I have and shall focus more on who I am. Therefore, on this day, July 2, 2008, I, May3545, commit to saving 50% of my net paycheck into a savings account that will be untouched until I need either A) a new car or B) a home to live in. I will live on the other 50% of my paycheck for rent, bills, gas, food, etc. There will also be enough left of the 50% for any "fun," but it also must be earned, not splurged. Therefore, a vacation or flight must be accumulated, new shoes must wait, and the new purse may come later. Furthermore, I will contribute to my maximum 401K and attempt to max out my Roth IRA before the year is up. My next paycheck is coming, and I will place 50% immediately into an online high-yield savings account at HSBC. I made my calculations, and this is feasible. I just have to stop my impulses (I do NOT need those pearl stranded necklaces nor do I need that vintage beaded clutch, and I DEFINITELY do not need another Hermes handbag). I even calculated a pair of Manolo Blahniks I have pre-ordered that shall come in October. I will have enough for those so whoohoo! Here is my electronic signature as a promise, may3545 *If you are also interested, write your pledge here as well, even if it's more or less than my goals. A buck saved goes a long way!* __________________ Visit my website at www.TheConsciousSnob.com for a fun and mindful outlook about conscious living!

Jul 2nd, 2008, 10:11 PM	#2
digby723 Member Joined: May 2006 Location: Northern Virginia Posts: 2,748	Congrats on your pledge!!! I pledged a month ago to start saving in my ING account $75 every paycheck (I don't make a ton) and when I get my bills paid off (goal is end of Sept) I will contribute half of my paycheck too. Congrats again though, this might suck at first, but, you will be really happy with the end results!! :) __________________

Jul 2nd, 2008, 10:26 PM	#3
may3545 Happy living Joined: Mar 2006 Location: NorCal Posts: 2,404	That's great digby! I started out with just $25 a month into my savings because I was so deep into debt. Now I'm debt free and ready to build a wonderful future. __________________ Visit my website at www.TheConsciousSnob.com for a fun and mindful outlook about conscious living!

Jul 2nd, 2008, 10:53 PM	#4
fieldsinspring keepin' it real! :) Joined: Aug 2006 Location: Where the Sun Is! Posts: 6,082	That is a great pledge may and I am awestruck at your accomplishment from $25/month to being debt free... you are inspirational, thanks! __________________ Don't Give up what you want MOST for what you want NOW

Jul 3rd, 2008, 01:07 AM	#5
lolitakali Mira Joined: Feb 2007 Location: Maryland Posts: 1,893	Wise move! __________________ *Best way to diet is to eat what you hate, not eat what you love.* *$$$$$ / GOLD = "my precious".* -ME to be a dragon hoarding gold-

Jul 3rd, 2008, 11:44 AM	#6
~Fabulousity~ Yes we can! Joined: Jan 2006 Location: Creating my life... Posts: 5,398	I pledge to not do anymore shopping for myself or my girls unless absoultely neccessary! I pledge to live by a strict budget from here on out and not go over it by any means neccessary I pledge that everytime I get the urge to make a purchase I will put that money towards my cc debt instead. I pleadge to be cc debt free by 2010 __________________ Every adversity, every failure, and every heartache carries with it the seed of an equal or greater benefit - Napoleon Hill

Jul 3rd, 2008, 01:08 PM	#7
uafly1 Member Joined: Nov 2005 Posts: 235	Good for you. I did this a few years ago and was shocked with how much I managed to save. It's fun to watch the account grow.

Jul 4th, 2008, 11:05 AM	#8
aine1313 Member Joined: Oct 2007 Posts: 1,066	good luck..big trees out of small acorns grow.

Jul 5th, 2008, 08:29 PM	#9
gloss_gal Member Joined: May 2006 Posts: 2,489	Good for you. I like your blog. I have to work on my pledge.

Jul 6th, 2008, 07:10 AM	#10
qwerty234 aka. Mica Joined: Apr 2007 Location: Australia Posts: 1,491	Great idea! Good luck! I'm currently saving 50% of my paycheck to through direct debits, but often pulling money out of savings to pay off my credit card every month I'm not really saving it if I keep using it! So I pledge to stick to my budget of living on 50% pay a week, and to buy no more clothes for....2 months! __________________ NO MORE BAGS! Last bag purchase: 1st Oct 2008.