Joanne Posted August 13, 2012 Share Posted August 13, 2012 (details are not being posted at this time) I'd like to have ideas for saving for a big event. I remember a Dave Ramsey "snowflake" board years ago in which (mostly women) posted about how they found small amounts of money at threw those at their debt snowball. I'd like to hear some of those ideas. The kids and I have already discussed: 1. If we want to eat out or get pizza, to consider it, and if we don't, put that money in the fund. 2. If we buy something on serious sale, to put the difference in the fund. 3. If I budgeted more than needed, it goes in the fund. 4. Any unexpected "windfall" money goes in the fund. The event will happen (if it does) between November and January. Suggestions welcome! Quote Link to comment Share on other sites More sharing options...
LucyStoner Posted August 13, 2012 Share Posted August 13, 2012 Pay the fund a set amount each time you get paid. Even if it is small, you will build momentum in increasing the fund. The average American has more than a few things that they do not use and could be sold. Host a garage sale or use CL or eBay to sell some things you want less than the event and add all that money to the fund. I made over $500 purging stuff earlier this summer. I like all of the ideas you posted. I wish you success in reaching your savings goal! Quote Link to comment Share on other sites More sharing options...
Unicorn. Posted August 13, 2012 Share Posted August 13, 2012 Every time you use a store coupon, put the amount you saved in the fund. Along those same lines, can you switch brands on some things and put the difference in the fund? I know these are small, but pennies can add up fast. Brainstorm ways to save money on gas, internet, utilities, and add the savings. Can the kids collect aluminum cans, mow grass for neighbors, babysit, walk dogs, etc. to earn money for the fund? Quote Link to comment Share on other sites More sharing options...
Mama Geek Posted August 13, 2012 Share Posted August 13, 2012 My grandparents would save every quarter they got and put it in a jar. Come tax time they would have enough to cover their taxes. In todays money you might want to put every $1 bill you get into a jar. So this means anytime you spend cash out shopping. I also figure in their time credit cards were used much much less and ATM cards didn't exist. Quote Link to comment Share on other sites More sharing options...
DawnM Posted August 13, 2012 Share Posted August 13, 2012 It was easier for me to start an ING account. I have direct deposit into it. I currently have about 4 "funds" going in there. 1. Philmont trip for oldest son and DH (need $3,600 by summer of 2013 so I contribute $150/mo for 18 months and have already paid the additional as a deposit. 2. Computer replacement fund- $50/mo for as long as needed 3. Vacation fund- $100/mo 4. Car replacement fund- trying to get to $300/mo but things keep coming up! :lol: So, I work backwards. Instead of saying, "Well, I saved $50 here so I will put it in the fund, I say, contribute to the funds first and then I only have $XX to spend on the other." Quote Link to comment Share on other sites More sharing options...
Hikin' Mama Posted August 13, 2012 Share Posted August 13, 2012 The best advice I've heard, and this is from someone who has a small income but did quite well financially: choose what you want to save, save it, and make do with the rest. Granted, this person did not have all the circumstances you do, but I'm trying to follow it myself to actually save more. I'm praying that you meet your goal for your big event. You deserve it if anyone does! Quote Link to comment Share on other sites More sharing options...
elfgivas Posted August 19, 2012 Share Posted August 19, 2012 this is a great thread. what we do currently: i look at what we need to do what we want, and then i divide it by the time i have to acquire the money. so if i need to "find" $150- each month for four months, i start trying to figure out ways to find it. having breakfast for dinner one night a week helps. putting all our change in a coffee can each night helps. turning off all the lights and electronics and eating by candlelight every night helps many things, including money (ie. earth hour every day). going to bed at dusk and up at dawn helps. bumping the thermostat up, or down depending on the season. not using a dryer. taking recycling to a recycle center once a month. finding a carpool helps hugely. not grocery shopping the last week of every month and just using what we have does many things. and then if that doesn't do it, i start cutting trips in the car. i bet you already do a lot of these things, but maybe something will help. we also make special events part of our gift-giving. we give tickets or backpacks or ??? for birthdays, anniversaries, etc leading up to the big event. hth, ann Quote Link to comment Share on other sites More sharing options...
Mommyof4ks Posted August 19, 2012 Share Posted August 19, 2012 We put aside X amount each month (total divided by 12) for things. It works better for us, because 'extra money' usually gets spent on a trip to the movies or a theme park. :) I lack discipline. Quote Link to comment Share on other sites More sharing options...
fraidycat Posted August 19, 2012 Share Posted August 19, 2012 (edited) Back when I had a big Texas Mickey jar (now broken after an unfortunate jump out of the truck during a move) to put change in, every time we spent cash any and all change went in to the jar. Our money went to our Disney vacation earlier this year. It think it was around $400 that we had saved over a couple years - but some of that was Canadian and those loonies and twonies add up quickly! If you use your debit card, you could round up to the nearest dollar (or $5) on every purchase and transfer that money to a savings account. I didn't do this, but would consider it in the future because we use debit more than cash. Edited August 19, 2012 by fraidycat Quote Link to comment Share on other sites More sharing options...
I.Dup. Posted August 19, 2012 Share Posted August 19, 2012 The best thing we have found is to figure out the bare minimum we can spend on food/gas/toiletries per paycheck, take that out of the bank in cash, and only use that. That usually frees up a couple hundred per paycheck, believe it or not. Quote Link to comment Share on other sites More sharing options...
Lily_Grace Posted August 19, 2012 Share Posted August 19, 2012 Pay the fund a set amount each time you get paid. Even if it is small, you will build momentum in increasing the fund. This is what we do. Dh and I keep a separate savings account just for the event. Each paycheck it gets paid right along with our usual savings, and any money left in checking the night before payday gets dumped in, too. Our best way to build our savings was to do a no-spend month. If it wasn't absolutely needed (gas, food) or a bill, we didn't get it. We got very creative that month in making do without and cutting down costs! Quote Link to comment Share on other sites More sharing options...
Carol in Cal. Posted August 19, 2012 Share Posted August 19, 2012 Round up--pay for things with cash, and put the coin change into a jar. Put a targetted amount into the bank, and turn yourself inside out not to touch it--that means, 'shop' in your kitchen cabinets, eat up all the weird stuff in cans that you never quite use, fix lunches instead of eating out. If someone gets a raise, assign a big chunk of it to savings. Remember to still be generous--that doesn't necessarily mean to give 10% to your church or whatever, not a law like that, but it is my opinion that remainging open to the needs of others is important all the time and especially when you're saving for yourself. Quote Link to comment Share on other sites More sharing options...
Audrey Posted August 19, 2012 Share Posted August 19, 2012 When I have to save for something big, at the end of every day I take a bill out of my wallet. Some days, I can manage to spare a $20. Some days it's only a $5 (we don't have $1 bills here). I put the money aside where it won't be convenient to grab it. If it isn't in my wallet and it isn't in my bank account, it's hard for me to spend it. Quote Link to comment Share on other sites More sharing options...
katilac Posted August 19, 2012 Share Posted August 19, 2012 I'm a straight forward kind of person, so I would set a budget and then save that money directly each month. I would rather just not have the money available for pizza, rather than dither over whether to buy it or not, kwim? It also helps immensely in planning when you know how much you will have to spend, rather than saving varying amounts each month and hoping for the best. November to January is only 2 to 5 months away, so you should be able to figure out what the wiggle room in your budget is. If you save even more, great, but you will at least have a base amount to plan with. Quote Link to comment Share on other sites More sharing options...
eaglei Posted August 19, 2012 Share Posted August 19, 2012 Great thread, OP! I'm :bigear: These are great ideas and I am hoping others will weigh in, too! I wanted to toss in an idea that a friend told me she does - Every time she receives a one dollar bill, if it has the letter *A* on it, she saves it. Periodically, she takes the ones to the bank and cashes them in for larger bills, thus putting those *A* ones back in circulation. She says it has added up quite nicely . . . Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted August 19, 2012 Share Posted August 19, 2012 Do you still have anything around you can get rid of and sell? Extra furniture, books, CDs, toys? Stuff you can sell on craigslist or to your local used bookstore? Drop all of that money in a jar with the rest. Quote Link to comment Share on other sites More sharing options...
DianeW88 Posted August 19, 2012 Share Posted August 19, 2012 I save huge amounts of money every year for our Disney trips. This is my favorite site for tips on how to do that. It will help you for any goal though...not just Disney. http://www.couponingtodisney.com Quote Link to comment Share on other sites More sharing options...
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