Comments on: The Benefits Of Saving

By: Your Comfort Zone - Is It Really Your Friend Or Actually Your Foe?

Your Comfort Zone - Is It Really Your Friend Or Actually Your Foe? — Mon, 12 Apr 2010 14:00:29 +0000

[...] for their cars is not an easy task. I gave 3 major speeches in the class which consisted of an informative, a persuasive, and a ceremonial speech. I finished the class with an A! You can’t get an [...]

By: Brad Chaffee

Brad Chaffee — Fri, 03 Jul 2009 00:09:16 +0000

Thanks J, this class is just one of the reasons I had to cut my blogging back down again. LOL Glad you liked it man! I tell you what, I was pretty stressed out on the days leading up to giving the speech but it actually wasn’t as bad as I expected. In fact, I was the third person to volunteer to give the speech. My wife is not looking forward to the week of September 4th when I speak to a Grapevine group of African-American ladies for an entire hour about saving, budgeting, student loans, and buying a home!! LOL Maybe my next speech should cover the stress that is caused by giving a speech! haha!

By: J. Money

J. Money — Thu, 02 Jul 2009 23:16:39 +0000

dude, this is awesome!!! I’ll be linking back to it for sure down the road – I’m seriously impressed. Also got something else you may be interested in – holler on my email when you get a sec

By: Emilie in Minneapolis

Emilie in Minneapolis — Wed, 01 Jul 2009 14:25:40 +0000

I forgot: the emergency fund is called the PEACE FUND. Post that balance somewhere.

By: Emilie in Minneapolis

Emilie in Minneapolis — Wed, 01 Jul 2009 14:24:48 +0000

Then you are one step away from that savings account. After you have trained yourself to reach first for the 99 cent shampoo, be VERY careful to “keep yourself broke” because you are going to have change in your checking account. That’s going to look like free money, but it isn’t. It’s the downpayment on your piece of peace.

If you can’t bring yourself to taking the other $4.01 from the shampoo saving and putting it into a no touch savings account, then save it the other way. Deposit all income to a savings account, pay your MUST bills from that account (house mortgage, car payment, utilities) automatically, and transfer only enough to cover a reasonable budget into your checking or debit card account. Pay your CC bills manually so you watch the balance fall.

what stays in savings at the end of the month, STAYs in savings. No touch.

Special events might call for additional savings accounts like one for emergency funds (fill that up first), then one for vacation funds, and so on.

By: Chad

Chad — Tue, 30 Jun 2009 21:15:29 +0000

To Emilie in Minneapolis:

Thanks for the advice. I actually read the book. It’s called “Stop Buying Stuff You Can’t Afford!” It’s only one page long. The advice is priceless and the book is free.

By: Emilie in Minneapolis

Emilie in Minneapolis — Tue, 30 Jun 2009 15:41:43 +0000

To Chad:

You get the money when you stop buying “stuff” and start buying “peace”

You start small, in lots of places. Do you NEED the muffin, the $5 shampoo instead of the 99 cents stuff, the empty calories food, the premium breakfast cereal, the household chemical if vinegar will do as well, the third pair of running shoes, the store new shirt (try Goodwill, Unique, or Savers’ first)

By: Chad

Chad — Tue, 30 Jun 2009 15:05:32 +0000

So where do you get this “Saved Money” your talking about? lol