Savings Plan: Don't Spend a Dollar
Like always I will give credit where credit is due. I found this idea in one of my favorite political books, Somebody's Gotta Say It by Neal Boortz. He received this idea from another man when he was on a ski trip. The man he got it from saved enough to pay for a ski vacation every year. Enough of that now.
I love this idea because I love personal responsibility and individual action to help change your life. If you want to have hopes in seeking positive change in your life individual action, personal responsibility, and self-reliance are the only things that will change your life. Government action always fails and ends up corrupting those in power.
Don't Spend a Dollar
I know what your thinking right now. How am I ever going to get anything if I don't spend a dollar? Maybe you are a little more on the smart side saying, "Of course I'll save money if I don't spend it."
Here's the plan. Don't spend a dollar means just that. You don't spend a $1 bills. Instead you tuck them away in a coffee can and save them for that trip you are looking to take at the end of the year, the HDTV you've been wanting but can't afford, or maybe putting it in a retirement account to utilize your savings in a more responsible way.
Here's the plan. You go to your local coffee shop in the morning for coffee in the morning, grab some lunch, maybe an afternoon snack, or have to go buy groceries and you use cash so inevitably you will get your change. You tuck away the $1 bills for savings (you pretend they don't exist anymore) and put the rest of the change in your pocket to spend later.
When you get home deposit the $1 bills away in your coffee can and forget about them. Don't count them. After a month or for me I am waiting for a year go ahead and count them. You will be amazed at how much you have put away you didn't think you would have been able to live without before this savings plan. It's like receiving an end of the year bonus.
Here's the second thought of the plan. If you can't afford to buy the product without that dollar think of things that you can cut out from your spending. Maybe it is a good time to give up the cigarettes, the HDTV subscription, or that expensive Starbuck's coffee. This will only help you save more money to make every $1 go further.
Third, every time you can use cash instead of credit when at all possible. This is a great reminder for people who tend to forget exactly how much they are putting on their credit card and get into large amounts of debt millions of US citizens are having a difficult time getting out of. Instead of a careless swipe of the card force yourself to count out the cash. Suddenly when you hand that sum of cash over you become more cognizant of exactly how much you are spending. When you are buying something you really don't need it makes it that much harder to hand over that cash.
One exception: If you want to carry a few dollars with you to save for tips that is fine. For everything else you save your $1 bills.
I love personal reliance to improve your life and this is just one way that can help you save for a family vacation, retirement, education, or any other thing you may want. Taking this simple action to change your life can make a big difference.
Go through your wallet now and take out the $1 bill. Leave the $5's, $10, $20, $50, and $100. Then put them away in your favorite container. After the first month of really trying go ahead an count your money. I will not be surprised when you report back that you save $50, $100, or maybe even over $150.
Change your life!
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