My life has seen quite a few changes over the last six months. I’ve sold my house and moved in with Christine. We share all expenses, so I’ve got more money available. I’ve spent quite a bit of it on a stereo and a garden shed, but I’m a little ahead and gaining every month.
I used to have car payments but I got rid of the outstanding balance with some of the proceeds from the house. Also, I used to put aside a bit of money every month to cover the taxes on the house. In both cases I’d set up my bank accounts for automated transfers of the amounts from one savings account into a special one that I didn’t touch. Without thinking about it I let this go on for a couple of months after my move. Lo and behold: savings! I’d gotten used to not having this money as part of my monthly operating budget, so I didn’t miss it. So, I’ve decided to let it pile up. My current car is 7 years old and beginning to show its age and we’ll probably want a vacation next summer, so the accumulation won’t go on forever. But, when I do feel the need of some extra cash it’ll be nice to dip into the savings instead of the line of credit.
I used to have car payments but I got rid of the outstanding balance with some of the proceeds from the house. Also, I used to put aside a bit of money every month to cover the taxes on the house. In both cases I’d set up my bank accounts for automated transfers of the amounts from one savings account into a special one that I didn’t touch. Without thinking about it I let this go on for a couple of months after my move. Lo and behold: savings! I’d gotten used to not having this money as part of my monthly operating budget, so I didn’t miss it. So, I’ve decided to let it pile up. My current car is 7 years old and beginning to show its age and we’ll probably want a vacation next summer, so the accumulation won’t go on forever. But, when I do feel the need of some extra cash it’ll be nice to dip into the savings instead of the line of credit.
See more progress on: learn to save money
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