I find myself flush with cash, all the time. However I usually just end up pissing it away on useless things- like bacon, for example. The really expensive bacon. Then cars, I went and bought a $65,000 car last year, then it ended up being written off due to mechanical issues (no fault of my own, the "warranty" at the dealership was a fat waste of money and they found a way to slime their way out of paying out for the work).
So, high time I put cash aside as last year my S.O got cancer and it was a wake up call that I did not have a slush fund/emergency fund sitting on call if I really REALLY needed it.
I set up a bank account with Rabobank (the biggest bank in Holland, I understand). Anyways, here in NZ they open it up without any branch visits or actual physical locations (all done online). Then they provide an electronic two tier authentication device that you need to log into the internet banking every single time.
Well, that second tier device I have given to my S.O and she has put it away where I "cant find it". The password is all in my head (a significant event in my life, the date of which only I know and it is burnt into my memory) so I have the password- she has the keys. Only when we REALLY NEED IT- will we access it with "our powers combined" (not a Cpt Planet reference but yes that did play out in my head r/nostalgia)
Will move it up to $1000, then put that amount into a higher earning term deposit account then move the balance up to another $1000, then rinse and repeat. In a few years time I hope to have a bunch of $1000 financial babies flapping around and hope to install a habit of saving to my kids as well. Each $1000 parcel will have its own purpose attached to it (car troubles, funeral expenses if a family member died, illness, bacon shortage on a global scale).. you get the idea.
Would like to thank this subreddit for popping up so much on my home page that I finally decided to sort my shi* out.
Submitted September 17, 2017 at 06:28AM by Fisherman2209 http://ift.tt/2fqCwm7
