Liz Pulliam Weston has a great suggestion this week in her MSN money column: Pay Yourself $2 a Gallon. Everyone is saving money now that gasoline has come down in price, so she suggests putting the money no longer being used to drive, into savings.
I budget $80 every two weeks for gas. When gas was at its peak, that wasn't quite enough. But these days, I usally get by for $50 or less over 15 days.
I don't put the excess into savings, but each month, I take what is left in the envelope marked "gas money" and I snowflake it to my smallest debt.
My mortgage payment, which fluctuates due to the inclusion of insurance and property taxes, goes down $17 beginning in March. I'm planning to snowflake that one as well.
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I've been using the money I save on gas to go out to eat at inexpensive restaurants, going to the movies, stopping by and lingering at my local coffee house, buying myself little personal gems like body creme, spa soaks, etc, etc, and organic foods.
I think we all have neglected ourselves and gone without enough! You're already putting money away for savings and retirement and debt reduction. What about us? What about you? What about me?
Treat yourself to something nice and good. We all deserve it. Even if it is a $5 box of dreamy chocolates. Do it!
Trust me.....it is going to feel soooooooo good. Better than it ever did before.
Enjoy.
Unfortunately gas here is back up to $2.25-$2.50 a gallon, so that plan wouldn't work! But I do try to save unused money, I used to devote it to debt. Now I'm adding it to my savings. It's good encouragement to stay under budget.
Here is a helpful tool for planning and saving for retirement...
http://savingmommymoney.com/money-calculators-helping-you-save
Looking for excuses to save, like this one, sure leads to better results than looking for excuses to spend, which is what a lot of people do! We like to take money we save each month (on a refi, change of insurance, shopping with coupons, etc.) and put it toward paying down our debt. It helps a lot! Great idea.
Jerry
www.leads4insurance.com
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