After buying an apartment, home furnishings and a new car, I've been struggling to get my savings back up. This has led to some new thoughts.
For example, one day I changed my Internet plan and the bank reduced some ongoing fees for an annual saving of $300. But at the end of that year, my savings account hadn't increased with that $300. I saved money, but it didn't go to savings. I took $300 from "Internet" and "Bank fees" and reallocated it to other stuff.
Light bulb moment: If I don't move a saving to savings, them I'm reallocating and not saving.
So I now plan on trying to move a saving to a savings account.
Note, this applies to a saving achieved by reducing current expenditure. If an item costs $100 and I buy it at $50, then that's not the type of saving I'm talking about. Of course, one can add to savings like that, but I mean when I find a way to reduce expenditure, if I don't place that saving in savings, I haven't actually saved a penny, all I have done is reallocated.
Submitted March 29, 2018 at 10:31AM by readitorial https://ift.tt/2E5kXS4
