Saving problems?

Bay · Jun 22nd, 2008, 01:35 PM

I know atleast I do.

As soon as I have money in my pocket..the buuuurn and want out. Gosh.

I cannot pass up on deals of any kind, especialy if it has to do with purses.

Does anyone else have this problem?

I need to stop!

Normally I buy maybe 5 bags a year..But since May I've bought..8 bags now! Not a big deal to some, but for me it is..

This is not good :(

hmwe46 · Jun 22nd, 2008, 04:31 PM

I do too.

But my company offers Direct Deposit.

So I have my monthly living expenses deposited into my checking account.

Then I auto-deposit the rest into savings.

This is a nice way to force yourself into saving $x per month

Only flaw in the logic is if your bank offers easy online transfers between accounts

thenorthwood · Jun 22nd, 2008, 05:00 PM

Yes, you should put some money into savings every paycheck. I also end up spending most of my money shortly after I'm paid, but I put away a set amount into savings every month. It's been great seeing my savings account grow and knowing I didn't squander it on something material.

Bay · Jun 22nd, 2008, 05:06 PM

Ohh I should..I just been a bad girl though..I took some from my savings account to pay for a purse

But I will put it back in when I get my paycheck..I think? Honestly I dunno if I will since there probably will be another bag I want by then..

I had a good stash of money saved up..and thenI started to take a little..then a little more..then everything was gone >_<

It's like having an addiction..I am looking for deals. When I see one..Ill grab it. Then I look for the next.

I find myself liking expecting items from the postoffice..if I don't I go and order something new >_<

Schmodi · Jun 22nd, 2008, 05:09 PM

Quote:

Originally Posted by Bay

I had a good stash of money saved up..and thenI started to take a little..then a little more..then everything was gone >_<

This in itself is reason enough for me not to blow money. I have a real savings account and a "play savings". I only buy bags, shoes, travel, etc out of my play savings. I also think I'd rather retire than have a bag.

If you're having that hard of a time have you considered transforming a bulk of your savings into a CD so it's locked away?

thenorthwood · Jun 22nd, 2008, 05:31 PM

^^ Yes, a CD is an excellent suggestions.

digby723 · Jun 22nd, 2008, 06:17 PM

Try an account like ING so that it takes a couple of days for the money to trasnfer. I did what you're talking about a couple of years ago. I had about 2k saved up and then just blew it and then had about 1k saved up and blew it again. I opened up an ING account b/c it takes 2-3 business days to transfer $ and I stopped transferring it back and forth right away! They have automatic deposit, so, every paycheck I have them take x amount of $ out of my checking and into ING. I stopped it for about a year b/c I went back to school and quit my job unexpectedly but, have started it back up since I've gotten my finances in order and my debt is reduced by half of what it was when I first quit my job. GL to you!

IntlSet · Jun 22nd, 2008, 09:56 PM

CDs are a great suggestion... that can lock away your money for 6 months or a year. Good idea.

qwerty234 · Jun 23rd, 2008, 02:11 AM

Quote:

Originally Posted by hmwe46

I do too.

But my company offers Direct Deposit.

So I have my monthly living expenses deposited into my checking account.

Then I auto-deposit the rest into savings.

This is a nice way to force yourself into saving $x per month

Only flaw in the logic is if your bank offers easy online transfers between accounts

I agree with what others have said, setup an automatic savings account that it takes a few days to transfer money across into. I put half my paycheck into savings every week. So when I go to get money for yet another pair of shoes, I have to evaluate if I really want them, as usually I'd have to put it on credit as I have no money left in my usual account, it's all in my savings! Of course now I'm using my credit card more, but I'm slowly learning to stop that!

lolitakali · Jun 23rd, 2008, 10:04 AM

Quote:

Originally Posted by hmwe46

I do too.

But my company offers Direct Deposit.

So I have my monthly living expenses deposited into my checking account.

Then I auto-deposit the rest into savings.

This is a nice way to force yourself into saving $x per month

Only flaw in the logic is if your bank offers easy online transfers between accounts

I dunno, I am very much into cash (that I can see accumulate lately; rather than purses).

See, money is always trendy & there is always a new trendy purse out there that will replace the one you just bought.

That is an insight taught to me by my hubby

.

I am a miser and still today, I love my cash more than any purses in the world... cash that will never go out of style!

lunatwinkle · Jun 24th, 2008, 03:23 PM

I agree with the CD suggestion! I have one that is locked up for 9 months. So when I get paid, I always put some into my CD. Then it's locked up and I can't touch it (unless I want to get a penalty. lol) That way, I'm limited with what I have in my checking for gas, expenses, etc.

IntlSet · Jun 24th, 2008, 03:26 PM

^^^^
What bank do you have, and how to you "put some" into your CD?

I wasn't aware it was a fund you could just add to little by little.

At Citibank, I've always been forced to buy my CDs in bulk... usually it's a minimum of $1,000 or $5,000 at a time and I can't add or subtract from that amount for 6 months - 1 year.

Virgo · Jun 24th, 2008, 04:00 PM

Quote:

Originally Posted by hmwe46

But my company offers Direct Deposit. So I have my monthly living expenses deposited into my checking account. Then I auto-deposit the rest into savings. This is a nice way to force yourself into saving $x per month

That's what I do too. It works really well for me.

cheweyvy · Jun 24th, 2008, 05:18 PM

agree with Digby723 -

Definitely sign up for ING Direct. Me and DH both have it and we pass it on to all our contacts because you can get $10 referrals to everyone that sign up for and deposited minimum $250 initially. The person who sign up for it will also get $25 free money from ING. I've made quite a few dollars here and there sending emails to my family & friends.

I also tend to empty my bank when I see it hits over 4 digit. So I signed up for ING automatic saving. What it does is, automatic pull money from your checking or saving acct to ING either weekly, bi-weekly or monthly. You can set it up the time frame you want and the amount you want.

Good luck!

Peeking_Around · Jun 26th, 2008, 03:59 PM

Quote:

Originally Posted by cheweyvy

I also tend to empty my bank when I see it hits over 4 digit. So I signed up for ING automatic saving. What it does is, automatic pull money from your checking or saving acct to ING either weekly, bi-weekly or monthly. You can set it up the time frame you want and the amount you want.

Good luck!

That's a good idea. I tried doing a savings account with my current bank and I end up transferring money over or just withdrawing it when I want to spend ... I bet I'll be able to save more if money is going into a totally separate savings account.

Jun 22nd, 2008, 01:35 PM	#1
Bay Purses are teh shiet Joined: Feb 2007 Location: Somewhere I dont want to be.. Posts: 1,624	Saving problems? I know atleast I do. As soon as I have money in my pocket..the buuuurn and want out. Gosh. I cannot pass up on deals of any kind, especialy if it has to do with purses. Does anyone else have this problem? I need to stop! Normally I buy maybe 5 bags a year..But since May I've bought..8 bags now! Not a big deal to some, but for me it is.. This is not good :( __________________ Lusting for Prada/MiuMiu, Balenciaga and MJ..

Jun 22nd, 2008, 05:06 PM	#4
Bay Purses are teh shiet Joined: Feb 2007 Location: Somewhere I dont want to be.. Posts: 1,624	Ohh I should..I just been a bad girl though..I took some from my savings account to pay for a purse But I will put it back in when I get my paycheck..I think? Honestly I dunno if I will since there probably will be another bag I want by then.. I had a good stash of money saved up..and thenI started to take a little..then a little more..then everything was gone >_< It's like having an addiction..I am looking for deals. When I see one..Ill grab it. Then I look for the next. I find myself liking expecting items from the postoffice..if I don't I go and order something new >_< __________________ Lusting for Prada/MiuMiu, Balenciaga and MJ..

Jun 22nd, 2008, 06:17 PM	#7
digby723 Member Joined: May 2006 Location: Northern Virginia Posts: 2,732	Try an account like ING so that it takes a couple of days for the money to trasnfer. I did what you're talking about a couple of years ago. I had about 2k saved up and then just blew it and then had about 1k saved up and blew it again. I opened up an ING account b/c it takes 2-3 business days to transfer $ and I stopped transferring it back and forth right away! They have automatic deposit, so, every paycheck I have them take x amount of $ out of my checking and into ING. I stopped it for about a year b/c I went back to school and quit my job unexpectedly but, have started it back up since I've gotten my finances in order and my debt is reduced by half of what it was when I first quit my job. GL to you! __________________

Jun 22nd, 2008, 09:56 PM	#8
IntlSet Bonjour! Joined: Jan 2006 Location: Chicago Posts: 10,979	CDs are a great suggestion... that can lock away your money for 6 months or a year. Good idea. __________________ http://drinkmorechampagne.wordpress.com/

Jun 24th, 2008, 03:23 PM	#11
lunatwinkle Nicole <3 tPF! Joined: Nov 2006 Location: SF Bay Area, California Posts: 3,539	I agree with the CD suggestion! I have one that is locked up for 9 months. So when I get paid, I always put some into my CD. Then it's locked up and I can't touch it (unless I want to get a penalty. lol) That way, I'm limited with what I have in my checking for gas, expenses, etc. __________________ MY LOVELIES: Coach Hamptons Weekend Scarf Print Pouch Coach Legacy Straw Tote Coach Signature Gallery Tote Gryson for Target Black Patent Woven Bag w/ Cutout Handles Rebecca Minkoff Morning After Mini in Wine Rebecca Minkoff No Strings Clutch in Pewter/Eggplant Click on my profile to view my small but well-loved handbag collection!

Jun 22nd, 2008, 04:31 PM	#2
hmwe46 Sub-Forum Mod Joined: Jun 2006 Posts: 10,152	I do too. But my company offers Direct Deposit. So I have my monthly living expenses deposited into my checking account. Then I auto-deposit the rest into savings. This is a nice way to force yourself into saving $x per month Only flaw in the logic is if your bank offers easy online transfers between accounts

Jun 22nd, 2008, 05:00 PM	#3
thenorthwood music lover Joined: May 2008 Posts: 374	Yes, you should put some money into savings every paycheck. I also end up spending most of my money shortly after I'm paid, but I put away a set amount into savings every month. It's been great seeing my savings account grow and knowing I didn't squander it on something material.

Jun 22nd, 2008, 05:31 PM	#6
thenorthwood music lover Joined: May 2008 Posts: 374	^^ Yes, a CD is an excellent suggestions.

Jun 24th, 2008, 03:26 PM	#12
IntlSet Bonjour! Joined: Jan 2006 Location: Chicago Posts: 10,979	^^^^ What bank do you have, and how to you "put some" into your CD? I wasn't aware it was a fund you could just add to little by little. At Citibank, I've always been forced to buy my CDs in bulk... usually it's a minimum of $1,000 or $5,000 at a time and I can't add or subtract from that amount for 6 months - 1 year. __________________ http://drinkmorechampagne.wordpress.com/

Jun 24th, 2008, 05:18 PM	#14
cheweyvy a proud mama of 2! Joined: Sep 2007 Location: NYC Girl Posts: 3,445	agree with Digby723 - Definitely sign up for ING Direct. Me and DH both have it and we pass it on to all our contacts because you can get $10 referrals to everyone that sign up for and deposited minimum $250 initially. The person who sign up for it will also get $25 free money from ING. I've made quite a few dollars here and there sending emails to my family & friends. I also tend to empty my bank when I see it hits over 4 digit. So I signed up for ING automatic saving. What it does is, automatic pull money from your checking or saving acct to ING either weekly, bi-weekly or monthly. You can set it up the time frame you want and the amount you want. Good luck! __________________ Join the revolution against eBay! Sign up for www.bonanzle.com with other tPF members today and start listing your stuff. Sign up before October and there are no fees to list! No listing expiration!