A savings account isn’t something to hang on the wall and stare at, like a Rembrandt. You’re not hoarding. You’re preparing to use your money in a different way.
Refer, please, to your spending plan. It says that your current goal is to pay down debt. Or have three months’ living expenses in the bank. Or $2,000 more in a college account this year. Or $5,000 for long-term investments. Or $1,000 to play the slots in Vegas, where you’ll really make some money. Tithing, or semitithing, is how you’re going to raise your stake.
Here’s how to accomplish it:
First, write down how much you’re going to save (5 or 10 percent of each paycheck).
Second, write down how long it will take to reach your goal. At $250 a month, you’ll have your extra college money in eight months. You’ll have college money and Las Vegas in 12 months. (Tip: It’s easier to save $59 a week than $250 a month. The smaller sum sounds more doable, even though it comes to the same amount in the end.)
Third, note each future $250 (or $59) payment on your calendar and check off every one you make. That may sound hokey, but it’s a strong motivational tool. Every time you turn to a new week or a new month, there’s a written reminder to keep up your resolve. Saving money is easier if you see it climb toward a specific end. It’s like polishing the car; you feel that you’ve accomplished something.
Fourth, when you’ve reached your goal, give yourself a little present. Then start the process all over again.
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From MAKING THE MOST OF YOUR MONEY NOW by Jane Bryant Quinn. Copyright © 1991, 1997, 2009 by Berrybrook Publishing, Inc. Reprinted by permission of Simon & Schuster, Inc.
