Okay...so I am going to admit to something I do that I'm sure you've all been guilty of doing. I shuffle money from my savings to my chequing quite often....like a couple times a month. I initially set up my savings to start trying to put money away. Yes part of it has been that I needed it, but the other part of it is that it's way too easy for me to access.
Technically, I can't withdraw any of my savings money via a teller machine. I either have to do it in person or transfer over the net. Well, in this day of age, transferring over the net is way easier to do than even if I were allowed to take it out of a teller machine. Honestly, it's a little too easy for me to get it. I wish I could say that I could stick to the plan, but that's definitely not worked.
I'm finally in a place where savings is now a possibility. I haven't had that in years, and it's important to me. So this is my action plan (which I'm sharing with you all, which maybe will inspire you to get honest about your savings account):
Technically, I can't withdraw any of my savings money via a teller machine. I either have to do it in person or transfer over the net. Well, in this day of age, transferring over the net is way easier to do than even if I were allowed to take it out of a teller machine. Honestly, it's a little too easy for me to get it. I wish I could say that I could stick to the plan, but that's definitely not worked.
I'm finally in a place where savings is now a possibility. I haven't had that in years, and it's important to me. So this is my action plan (which I'm sharing with you all, which maybe will inspire you to get honest about your savings account):
- Keep my initial savings account as I do keep my money for my truck payments in it
- Keep the $2 transfer of money into my savings every time I use my debit card-it does add up, which goes directly into the amount needed for my truck
- Open a new savings account here in my new town. A savings account is free and doesn't cost you a cent. Don't set up internet banking so that I can easily access my cash! I also like the idea that if I need emergency money that I can get to the bank easily (my closest TD bank is 45 minutes away)
So, that's the goal and the plan. I'm hoping that with this upcoming paycheck on Friday that I can open up the new account, and start my savings to maybe some Masters' courses, better healthcare, or maybe a vacation...who knows?
Great idea, Julie! I did something similar when I was living in Alberta. My Bank of Montreal was where I kept all my money for my important things (rent, car payments, insurance) and the nearest branch was 96 km away .. (I also had my automatic payroll from my second job deposit into here) so I couldn't spend the money in that account, and then opened an account with a bank in town for my day-to-day spending. I was able to quickly save up, since my money was hiding where I couldn't spend it ;)
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