Want to be a Recovering Non-Saver and Start a Savings Plan?
My name is Mary, a recovering non-saver and next month I am going to be doing a “Recovering Non-Saver’s Savings Plan Jumpstart. Not saving money has been a bad habit of mine for a long time and I am working to change it. If you are in the same boat and want to change the bad habit to a good one, one where you have spare change in your savings account, read on. What I am proposing may seem a little drastic and even a little scary, especially with December being the month of spend, spend, spend, which is all the more reason to tackle it head on!
Be Willing To Do What Others Won’t…
Dave Ramsay, author of many books including The Total Money Makeover has the above as part of his teachings: “Be willing to do today what others won’t, so tomorrow you will have what others don’t”. I tell myself this quote in many areas of my life as it is so true. I had to be willing to do what was hard (and scary) to get my Group Exercise Certification at age 50. I have to be willing to do the hard of setting my alarm for an hour earlier each morning so I can wake up for a four Sun Salutations (yoga moves) and gratitude journaling practice to create more balance and calmness in my life. I had to be willing to do what’s hard (meal prepping, months of workouts I couldn’t miss, following a strict meal plan and more) to be able to do a couple of figure competitions a few years back. This was the year I decided to quit telling myself “I wish I could do _______”, and start doing what is hard.
I just finished the money – mindset book “Get Rick Lucky Bitch” by Denise Duffield-Thomas (and am starting from the beginning again tomorrow!). In it, Denise shares on how sometimes not only do we have to do the hard, we also have to do the drastic, hence my savings proposal for the month of December. Why not wait until January for a New Year’s Resolution instead? Because I feel it’s time to do something that seems hard AND drastic in order to change the energy around my lack of savings. As Denise says, our upbringing and current energy and thoughts around money are what keeps us where we are financially and sometimes we need to “throw everything at it” to create change. I remember my mom telling me at a very young age “money burns a hole in your pocket” and guess what, it has continued to do so, and for this reason I came up with the idea for a savings plan for December.
The Plan: Save A Dollar A Day For Each Day
If I haven’t scared you off already, you like me, must be ready for some real change to add change to your savings account. Now whether you jump in and succeed or don’t quite make it, it is OK. Many times just taking the leap and getting started will help you do better the next time around. Remember how many times we fell down learning how to ride a bike??? I quit smoking 100 times (or more) before I quit for good! Are you still with me? Good, here it goes.
The formula is simple, set aside a dollar a day for the day of the month. For example on December 1st, put $1.00 in a jar, December 2nd – $2.00, December 3rd – $3.00 and so on. It will be easy at first and as the date climbs, so does the savings! At the end of the month we will have $496 in our savings accounts! I know some of you are already freaking out (I am a little too) telling yourself how hard it is going to be and finding every excuse in the book: I never have any cash, I don’t want to have that much cash laying around, how will I be able to put aside $20 one day and $21 the next? I know, because these are the thoughts I had when I came up with this crazy idea. Here’s the dealio…it will be easy IF we believe it will! If you are still with me and haven’t “x’d” out of this blog post and said “she’s nuts” (or something stronger), I have created a printable pdf checklist to follow along. I suggest you post this on your fridge or bathroom mirror where it can be seen every day and can check off your “deposit” and just in case a day or two is forgotten, go back where you left off and catch up. My plan is to start out using a jar to drop cash into the first week or so and then depositing into the bank where I can make daily transfers. I will also open a special account for this at a new bank. Why? Because it’s too easy to transfer funds back OUT of savings to checking! My current bank allows to connect with another bank to transfer funds easily.
Why am I doing this? Partly because I personally need this, but mainly because I hear SO often “I wish I could afford to do _______.”. That sentence has come out of my mouth waaaaaaay too many times in my 50 years and it’s time to teach us old dogs (and young ones) a new trick! Last year AND the year before I started one of the 52 Week Savings Challenges where I saved a dollar the first week and doubled the savings every week. My short attention span gave up after the second month as eight weeks in I still only had $36 in savings and I’d forget half the time! As I mentioned before, this seems like it’s drastic, it’s a short time where we can see results FAST. Imagine on January 1st, having an extra $500 in your savings account! I’d love to hear your reasons for joining in the challenge and what it means for you! Here’s to having a successful December Savings Club! Who’s in????
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