by Jaclyn Winnow,
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on the net: www.jaclynwinnow.blogspot.com
UNITED STATES, Jun 29 — If the only plan you have for having a stash of cash for your next emergency is to scoop up the change that falls between the cushions, you might want to come up some additional methods to add to that stash. It is always a good idea to have a little extra green floating around for the lean times. Rainy days could be just around the corner. Who wants to carry around all that dead weight, anyway? Your spare change adds up a lot faster than you think
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f the only plan you have for having a stash of cash for your next emergency is to scoop up the change that falls between the cushions, you might want to come up some additional methods to add to that stash. It is always a good idea to have a little extra green floating around for the lean times. rainy days could be just around the corner. Rainy day funds become necessary! Here are some very clever and virtually painless ways to put aside some money now!
1. Put aside a large envelope, cookie tin, coffee jar or something similar. At the end of every week, throw a couple of dollars aside. By the end of your first month you should have some extra cash put aside to have a nice start on an emergency fund. The idea to doing this is don’t count it or spend it. Place it somewhere that is hidden away. Put it somewhere that you won’t be tempted to dip into it. This kind of money really adds up! What I have found works really well is to use a money box style (tin) which only has one opening in it (the small sliver at the top). This way you put your cash in, don’t even see it or be tempted by it - and the only way you can remove the cash is to use a can-opener and then remove everything that is inside - it really makes you stop and think about whether or not you want to actually open it.
2. The next time you treat yourself or your family to a meal out, tip yourself! Just as you go to tip the waitress 15 to 20 percent, put the same amount aside for yourself. When you get home, stash it away in your cookie jar. Every time you go through a fast food window, put a dollar away for that cookie jar, too! BETTER YET - don’t go out (even if you have the money to do so), INSTEAD whatever you were planning to spend (including the tip if it was a restaurant), TAKE that money OUT of your bank account and place it in your cookie jar.
3.The next time you get a good raise, instead of applying it to your cost of living, bank it! This way you will always be living one raise behind and your bank account will be growing by some 3 percent. Make sure you apply it to an account that you don’t have ready access to.
4.Take advantage of that cash back option! Next time you make a purchase using your debit card, ask for a small amount of cash back. Instead of spending it, stash it away in your cookie jar! Chances are you won’t even miss that extra $1, $2 or $5 bill and come emergency time, you will notice how the amount has piled up. If you need to be more visual with your savings, you can purchase clear Paint Tins at craft stores - they have a lid on them which you could cut a sliver hole into, then SEAL the lid with SUPER GLUE - this will allow you to see your savings build - but with the lid sealed shut you may stop yourself from opening it.
5. Next time you pay off that big-ticket item like a new car or tuition, continue to make the payments to yourself! Set up a savings account and each month slip the ghost payment into it. Watch as it builds nicely, just as mentioned in number 3 - do make sure you are applying this savings into an account which you don’t have ready access to. If you have noticed that you can get a better long distance telephone plan and you want to switch, allocate the savings to your cookie jar. You won’t likely miss that little bit of extra money, and you will have a better telephone plan, too. Phone plans are changing all the time, just think if you found one which saved you $20 - $50 per month from what you are currently spending and you added that to your emergency fund how much more you would have at the end of the year.
6. Consider joining a Christmas club. You will save a lot of money. Each year you put aside a bit of money and place it into a hamper program. Then, as Christmas rolls around you don’t need to scramble looking for Christmas cheer to share with your family. Your hamper arrives filled to the brim with all kinds of seasonal goodies that you paid for over the previous year. You can easily put aside $50 each year towards your emergency fund this way and you and your family will enjoy a hassle free Christmas.
7. Sign up for a grocery shopping membership card. At the bottom of your store receipt, you will see a print out that states how much you save each week. It really adds up. You can easily save an average of $15 on each weekly grocery trip. The important thing here, is to actually REMOVE that amount from your bank account and then add that amount, each week, to your savings cookie jar.
8. Put aside a large mouthed jar in the kitchen. It is very likely that your parents and grandparents had one. At the end of each workday simply empty your pockets or clean out your change purse. All the change goes into the jar. Who wants to carry around all that dead weight, anyway? Your spare change adds up a lot faster than you think. While you are at it, add at least one bill to your change jar at the end of each week. Aim for at least $20 over the month!
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If the only plan you have for having a stash of cash for your next emergency is to scoop up the change that falls between the cushions, you might want to come up some additional methods to add to that stash. It is always a good idea to have a little
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