Since I’m a college student, money can be very tight. This summer I promised myself I’d save up more money so that I would be able to have some fun up at school and not worry about being able to afford an occasional night out.
I decided I would put 10% of all paychecks into my savings for EMERGENCY ONLY. Not “oh, but I reaaallly like this shirt!” Only emergencies like a broken phone or car repair. I put another 10% into a high stakes investment account, so that by the time I graduate I can put a dent in those student loans. It’s taught me how easy it is to consistently save, and that 80% of my paycheck available for spending isn’t so different from 100%. I also have an app on the side that pulls a few dollars a week into a savings account that is exclusively for fun things, like travel and concerts.
This has made me much more aware of the value of my money, and a huge sense of pride in having a checking, savings, and investment account all in the triple digits :) Last year at school I blew through my whole savings account and promised myself that wouldn’t happen again. I can relax so much more now that I have a safety net, a plan for paying loans, and even some money on the side for fun. Thanks to this sub for guilting me into taking action and making changes in my spending habits!
August 02, 2018 at 11:17AM
